Cuba: Banana And Plantain Market 2024

Banana And Plantain Market Size in Cuba

The Cuban banana and plantain market stood at $X in 2021, growing by 7.8% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Banana and plantain consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Banana And Plantain Production in Cuba

In value terms, banana and plantain production reached $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild decrease. The pace of growth was the most pronounced in 2014 when the production volume increased by 20% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

In 2021, the average yield of bananas and plantains in Cuba expanded modestly to X tons per ha, with an increase of 3.1% on 2020 figures. In general, the yield, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2014 with an increase of 23% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2021, the growth of the average banana and plantain yield remained at a somewhat lower figure. 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 in Cuba was estimated at X ha in 2021, picking up by 4.9% against the year before. The harvested area increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the harvested area increased by 31%. As a result, the harvested area attained the peak level of X ha. From 2020 to 2021, the growth of the banana and plantain harvested area failed to regain momentum.

Banana And Plantain Exports

Exports from Cuba

In 2021, shipments abroad of bananas and plantains was finally on the rise to reach X tons after five years of decline. In general, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2015 with an increase of 234%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, banana and plantain exports surged to $X in 2021. Over the period under review, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 136%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for banana and plantain exports from Cuba, with a 83% share of total exports. Moreover, banana and plantain exports to Canada exceeded the volume sent to the second major destination, Austria (X kg), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada stood at -34.7%.

In value terms, Canada ($X) remains the key foreign market for banana and plantain exports from Cuba, comprising 84% of total exports. The second position in the ranking was taken by Austria ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Canada stood at -31.1%.

Export Prices by Country

The average banana and plantain export price stood at $X per ton in 2021, surging by 21% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 24%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Austria amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Banana And Plantain Imports

Imports into Cuba

In 2021, supplies from abroad of bananas and plantains decreased by 0% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 148% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, banana and plantain imports totaled $X in 2021. Overall, imports posted a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 160%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Angola (X tons) was the main banana and plantain supplier to Cuba, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Angola was relatively modest.

In value terms, Angola ($X) constituted the largest supplier of banana and plantain to Cuba.

From 2012 to 2021, the average annual rate of growth in terms of value from Angola was relatively modest.

Import Prices by Country

The average banana and plantain import price stood at $X per ton in 2021, standing approx. at the previous year. Overall, the import price saw a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the average import price increased by 32% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Spain amounted to -4.7% per year.

Source: IndexBox Platform

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