Asia-Pacific: Banana And Plantain Market 2024

Banana And Plantain Market Size in Asia-Pacific

In 2022, after two years of growth, there was decline in the Asia-Pacific banana and plantain market, when its value decreased by -0.6% to $X. The market value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Banana And Plantain Production in Asia-Pacific

In value terms, banana and plantain production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of 31%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

India (X tons) remains the largest banana and plantain producing country in Asia-Pacific, comprising approx. 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 rate of growth in terms of volume in India amounted to +2.2%. In the other countries, the average annual rates were as follows: China (+0.1% per year) and the Philippines (-3.1% per year).

In 2022, the average yield of bananas and plantains in Asia-Pacific reduced slightly to X tons per ha, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2014 when the yield increased by 10% against the previous year. The level of yield peaked at X tons per ha in 2021, and then dropped 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.

The banana and plantain harvested area declined slightly to X ha in 2022, approximately mirroring 2021. Overall, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 4.6%. The level of harvested area peaked at X ha in 2012; afterwards, it flattened through to 2022.

Banana And Plantain Exports

Exports in Asia-Pacific

In 2022, shipments abroad of bananas and plantains decreased by -2.9% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 78%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, banana and plantain exports amounted to $X in 2022. Overall, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 58%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the Philippines (X tons) represented the largest exporter of bananas and plantains, constituting 48% of total exports. Vietnam (X tons) took the second position in the ranking, followed by India (X tons) and Cambodia (X tons). All these countries together held near 42% share of total exports. The following exporters - Myanmar (X tons), Lao People's Democratic Republic (X tons) and Pakistan (X tons) - together made up 6.6% 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-Pacific, with a CAGR of +47.8% from 2012-2022. Vietnam (+17 p.p.), Cambodia (+11 p.p.), India (+11 p.p.), Myanmar (+2.9 p.p.) and Lao People's Democratic Republic (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the Philippines saw its share reduced by -43.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) remains the largest banana and plantain supplier in Asia-Pacific, comprising 55% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 14% share of total exports. It was followed by Cambodia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in the Philippines totaled +5.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+49.7% per year) and Cambodia (+57.2% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, with an increase of 4.9% against the previous year. Overall, the export price posted resilient growth. The growth pace was the most rapid in 2019 an increase of 31%. The level of export peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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-Pacific

Banana and plantain imports fell to X tons in 2022, waning by -7.6% compared with 2021 figures. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 -19.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 30% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, banana and plantain imports reduced to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 -3.7% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 34%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main importer of bananas and plantains, making up 52% of total imports. Japan (X tons) ranks second in terms of the total imports with a 30% share, followed by South Korea (9.2%). The following importers - New Zealand (X tons) and Hong Kong SAR (X tons) - each resulted at a 3.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +11.2%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest banana and plantain importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), with a combined 93% share of total imports.

China, with a CAGR of +12.3%, saw the highest rates of growth with regard to the value of imports, among 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-Pacific amounted to $X per ton, growing by 7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 11% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and New Zealand ($X per ton), while China ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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