Asia: Banana And Plantain Market 2024

Banana And Plantain Market Size in Asia

In 2022, the Asian banana and plantain market decreased by -1.8% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2021, and then reduced slightly in the following year.

Banana And Plantain Production in Asia

In value terms, banana and plantain production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 30% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

India (X tons) constituted the country with the largest volume of banana and plantain production, accounting for 45% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China (X tons), threefold. The third position in this ranking was held by the Philippines (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume in India stood at +2.2%. The remaining producing countries recorded the following average annual rates of production growth: China (+0.1% per year) and the Philippines (-3.1% per year).

The average banana and plantain yield dropped to X tons per ha in 2022, remaining relatively unchanged against the year before. The yield figure increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 11% against the previous year. The level of yield peaked at X tons per ha in 2021, and then declined slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of bananas and plantains production in Asia reduced to X ha, approximately equating the year before. Overall, the harvested area recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 4.7%. Over the period under review, the harvested area dedicated to banana and plantain production attained the peak figure at X ha in 2012; afterwards, it flattened through to 2022.

Banana And Plantain Exports

Exports in Asia

In 2022, shipments abroad of bananas and plantains decreased by -9.6% to X tons, falling for the second year in a row after five years of growth. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 60% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana and plantain exports reduced to $X in 2022. Overall, exports, however, recorded strong growth. The pace of growth was the most pronounced in 2017 with an increase of 44% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the Philippines (X tons) was the main exporter of bananas and plantains, achieving 47% of total exports. It was distantly followed by Vietnam (X tons), India (X tons) and Cambodia (X tons), together constituting a 40% share of total exports. The following exporters - Myanmar (X tons), Lao People's Democratic Republic (X tons) and Pakistan (X tons) - together made up 6.4% of total exports.

Exports from the Philippines decreased at an average annual rate of -6.3% from 2012 to 2022. At the same time, Myanmar (+47.8%), Vietnam (+47.0%), Cambodia (+41.9%), Lao People's Democratic Republic (+23.3%), India (+21.1%) and Pakistan (+4.7%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia, with a CAGR of +47.8% from 2012-2022. Vietnam (+17 p.p.), Cambodia (+11 p.p.), India (+10 p.p.), Myanmar (+2.8 p.p.) and Lao People's Democratic Republic (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while the Philippines saw its share reduced by -40% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) remains the largest banana and plantain supplier in Asia, comprising 53% of total exports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total exports. It was followed by Cambodia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Philippines totaled +5.4%. In the other countries, the average annual rates were as follows: Vietnam (+49.7% per year) and Cambodia (+57.2% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, growing by 6.3% against the previous year. Overall, the export price recorded a resilient increase. The growth pace was the most rapid in 2015 an increase of 39%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+12.4%), while the other leaders experienced more modest paces of growth.

Banana And Plantain Imports

Imports in Asia

In 2022, banana and plantain imports in Asia shrank markedly to X tons, falling by -21.1% against 2021. Total imports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -29.4% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 22% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, banana and plantain imports dropped to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 26% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China was the key importing country with an import of about X tons, which accounted for 41% of total imports. Japan (X tons) held the second position in the ranking, distantly followed by South Korea (X tons). All these countries together held near 31% share of total imports. Iran (X tons), Uzbekistan (X tons), Kazakhstan (X tons), the United Arab Emirates (X tons) and Iraq (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +51.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest banana and plantain importing markets in Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 77% of total imports. Iran, Uzbekistan, Kazakhstan, the United Arab Emirates and Iraq lagged somewhat behind, together comprising a further 9.3%.

Uzbekistan, with a CAGR of +43.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, increasing by 9.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :