Davao City (8 October) -- Banana exporters are exploring all means to mitigate the effects of Iran's import ban on fresh fruits that include Philippines' Cavendish bananas.

At the moment, Pilipino Banana Growers and Exporters Association (PBGEA) chairman Stephen Antig admitted no current negotiation being handled between the two countries, however, negotiation is worth considering.

"Philippines will definitely smell vinegar if nothing will be done to bend Iran's embargo." Antig was referring to the possible by-product of banana if it doesn't come exported to the target country.

With 50 million boxes of bananas expected to be spoiled, and estimated 64,000 banana plantation workers possibly retrenched brought about by the ban, Antig sees a bleak holiday season for the country's banana republic.

Iran is among the biggest importers of bananas from the Philippines along with Japan and Korea.

It accounts to 32 percent of the total banana export from the country. About $175 million or P7.2 billion is expected reduced revenues with the sudden import ban.

Antig bared that the association has already written to President Aquino and it's currently meeting with various cabinet members to directly pass the information. PBGEA officers met with the Department of Trade and Industry as well as the Department of Agriculture.

The said industry didn't see this coming and so it left them stunned until now.

They are also eyeing the possibility of a barter trade with Iran after learning that the latter recently expressed willingness to trade their oil for fruits.