The Pilipino Banana Growers and Exporters Association Inc. (PBGEA) is forecasting flat growth for the country's banana industry for this year with no new big expansions and investments coming in primarily due to the pandemic and the continued presence of the Panama disease.

'For this year, it should be the same as last year. There's no new big expansion. Sad to say, a lot of the big banana multinational companies, instead of expanding in the Philippines, have decided to invest in Latin American countries such as Panama,' PBGEA Chairman Alberto Bacani said during a virtual press briefing organized by the Department of Agriculture on Tuesday.