Chile: Banana And Plantain Market 2025

Banana And Plantain Market Size in Chile

For the eighth consecutive year, the Chilean banana and plantain market recorded growth in sales value, which increased by 1.5% to $X in 2022. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +67.8% against 2014 indices. Banana and plantain consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Banana And Plantain Exports

Exports from Chile

In 2022, overseas shipments of bananas and plantains were finally on the rise to reach X tons after four years of decline. Overall, exports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2013 when exports increased by 69% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana and plantain exports surged to $X in 2022. In general, exports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 96% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Peru (X tons) and the UK (X tons) were the main destinations of banana and plantain exports from Chile, together accounting for 97% of total exports. These countries were followed by Ecuador, which accounted for a further 2.5%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +155.6%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for bananas and plantains exports from Chile, comprising 82% of total exports. The second position in the ranking was held by Peru ($X), with an 11% share of total exports. It was followed by the UK, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+6.3% per year) and the UK (-1.4% per year).

Export Prices by Country

The average banana and plantain export price stood at $X per ton in 2022, dropping by -22.1% against the previous year. Overall, the export price showed a mild contraction. The pace of growth was the most pronounced in 2019 an increase of 22% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Banana And Plantain Imports

Imports into Chile

In 2022, supplies from abroad of bananas and plantains decreased by -10% to X tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 12% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, banana and plantain imports totaled $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ecuador (X tons) was the main banana and plantain supplier to Chile, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Ecuador amounted to +2.7%.

In value terms, Ecuador ($X) constituted the largest supplier of bananas and plantains to Chile.

From 2012 to 2022, the average annual growth rate of value from Ecuador totaled +7.3%.

Import Prices by Country

The average banana and plantain import price stood at $X per ton in 2022, increasing by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Ecuador.

From 2012 to 2022, the rate of growth in terms of prices for Ecuador amounted to +4.5% per year.

Source: IndexBox Platform

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