Estonia: Banana And Plantain Market 2025

Banana And Plantain Market Size in Estonia

In 2022, the Estonian banana and plantain market increased by 2.5% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Banana And Plantain Exports

Exports from Estonia

In 2022, approx. X tons of bananas and plantains were exported from Estonia; waning by -78.4% on 2021 figures. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 2,357%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, banana and plantain exports fell sharply to $X in 2022. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 1,037% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Finland (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of banana and plantain exports from Estonia, together accounting for 87% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +202.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for banana and plantain exported from Estonia were the Netherlands ($X), Finland ($X) and Norway ($X), with a combined 89% share of total exports. Germany and Latvia lagged somewhat behind, together comprising a further 9.9%.

Among the main countries of destination, Germany, with a CAGR of +193.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average banana and plantain export price stood at $X per ton in 2022, surging by 67% against the previous year. Overall, the export price continues to indicate a temperate increase. The growth pace was the most rapid in 2019 when the average export price increased by 141%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Germany ($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 Lithuania (+41.3%), while the prices for the other major destinations experienced more modest paces of growth.

Banana And Plantain Imports

Imports into Estonia

In 2022, after two years of growth, there was decline in supplies from abroad of bananas and plantains, when their volume decreased by -4.2% to X tons. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 24% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, banana and plantain imports totaled $X in 2022. The total import value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 17%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest supplier of banana and plantain to Estonia, with a 51% share of total imports. Moreover, banana and plantain imports from Ecuador exceeded the figures recorded by the second-largest supplier, Panama (X tons), threefold. The third position in this ranking was held by Costa Rica (X tons), with a 17% share.

From 2012 to 2022, the average annual growth rate of volume from Ecuador amounted to +27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+3.8% per year) and Costa Rica (+1.1% per year).

In value terms, Ecuador ($X) constituted the largest supplier of bananas and plantains to Estonia, comprising 54% of total imports. The second position in the ranking was held by Costa Rica ($X), with a 17% share of total imports. It was followed by Panama, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Ecuador stood at +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (+0.2% per year) and Panama (+1.3% per year).

Import Prices by Country

In 2022, the average banana and plantain import price amounted to $X per ton, increasing by 8.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Latvia ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform