Eastern Asia: Banana And Plantain Market 2024

Banana And Plantain Market Size in Eastern Asia

The East Asian banana and plantain market contracted slightly to $X in 2022, with a decrease of -3.8% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Banana And Plantain Production in Eastern Asia

In value terms, banana and plantain production reduced to $X in 2022 estimated in export price. The total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 113%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

China (X tons) constituted the country with the largest volume of banana and plantain production, accounting for 97% of total volume. It was followed by Taiwan (Chinese) (X tons), with a 2.9% share of total production.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest.

In 2022, the average yield of bananas and plantains in Eastern Asia fell modestly to X tons per ha, remaining constant against 2021 figures. The yield figure increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the yield increased by 14%. The level of yield peaked at X tons per ha in 2021, and then contracted modestly 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, approx. X ha of bananas and plantains were harvested in Eastern Asia; standing approx. at the year before. Over the period under review, the harvested area recorded a mild slump. The pace of growth was the most pronounced in 2015 when the harvested area increased by 4.4%. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the banana and plantain harvested area failed to regain momentum.

Banana And Plantain Exports

Exports in Eastern Asia

In 2022, the amount of bananas and plantains exported in Eastern Asia shrank slightly to X tons, approximately mirroring 2021 figures. Overall, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2017 when exports increased by 42% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, banana and plantain exports expanded significantly to $X in 2022. Over the period under review, exports showed a mild shrinkage. 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 attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the key exporting country with an export of around X tons, which resulted at 82% of total exports. Hong Kong SAR (X tons) ranks second in terms of the total exports with a 12% share, followed by Taiwan (Chinese) (5.7%).

China was also the fastest-growing in terms of the bananas and plantains exports, with a CAGR of +15.5% from 2012 to 2022. Hong Kong SAR (-15.6%) and Taiwan (Chinese) (-22.0%) illustrated a downward trend over the same period. China (+69 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR and Taiwan (Chinese) saw its share reduced by -30.2% and -39.3% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest banana and plantain supplier in Eastern Asia, comprising 79% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 11% share of total exports.

In China, banana and plantain exports increased at an average annual rate of +15.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-4.8% per year) and Taiwan (Chinese) (-19.3% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, increasing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2013 when the export price increased by 39%. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

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 Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.8%), while the other leaders experienced more modest paces of growth.

Banana And Plantain Imports

Imports in Eastern Asia

In 2022, banana and plantain imports in Eastern Asia reduced to X tons, which is down by -4.4% against 2021. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 -17.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 36%. 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 totaled $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -1.2% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 39% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; afterwards, it flattened through to 2022.

Imports by Country

In 2022, China (X tons) was the main importer of bananas and plantains, constituting 56% of total imports. It was distantly followed by Japan (X tons) and South Korea (X tons), together constituting a 42% share of total imports. Hong Kong SAR (X tons) took a little 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, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 98% share of total imports.

China, with a CAGR of +12.3%, recorded 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 Eastern Asia amounted to $X per ton, rising by 5.5% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 14%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Japan ($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

Frequently Asked Questions (FAQ) :