Guatemala: Banana Market 2025

Banana Market Size in Guatemala

For the third consecutive year, the Guatemalan banana market recorded growth in sales value, which increased by 1.1% to $X in 2022. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +26.7% against 2019 indices. Banana consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Banana Production in Guatemala

In value terms, banana production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by 15%. Banana production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

In 2022, the average banana yield in Guatemala declined modestly to X tons per ha, remaining stable against the previous year's figure. The yield figure increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 when the yield increased by 9% against the previous year. Over the period under review, the average banana yield reached the maximum level at X tons per ha in 2021, and then reduced 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.

In 2022, the total area harvested in terms of bananas production in Guatemala declined to X ha, which is down by -1.6% against the previous year. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 5.2%. The banana harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area remained at a lower figure.

Banana Exports

Exports from Guatemala

In 2022, shipments abroad of bananas decreased by -2.2% to X tons, falling for the third year in a row after eight years of growth. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 9.2% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, banana exports surged to $X in 2022. The total export value increased at an average annual rate of +4.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for banana exports from Guatemala, accounting for a approx. 92% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +2.1%.

In value terms, the United States ($X) also remains the key foreign market for bananas exports from Guatemala.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +4.5%.

Export Prices by Country

In 2022, the average banana export price amounted to $X per ton, increasing by 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +2.3% per year.

Banana Imports

Imports into Guatemala

In 2022, supplies from abroad of bananas increased by 80% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, imports saw tangible growth. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, banana imports surged to $X in 2022. In general, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 when imports increased by 90%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Honduras (X tons) was the main supplier of banana to Guatemala, with a 97% share of total imports. It was followed by the United States (X tons), with a 2.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Honduras amounted to +3.9%.

In value terms, Honduras ($X) constituted the largest supplier of bananas to Guatemala, comprising 87% of total imports. The second position in the ranking was held by the United States ($X), with a 6.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Honduras amounted to -4.4%.

Import Prices by Country

The average banana import price stood at $X per ton in 2022, with a decrease of -21.1% against the previous year. Overall, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2013 an increase of 8.6%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Honduras totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (-7.9%).

Source: IndexBox Platform

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