India: Banana Market 2024

Banana Market Size in India

The Indian banana market expanded to $X in 2022, surging by 3% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Banana Production in India

In value terms, banana production rose slightly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 27% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

The average yield of bananas in India totaled X tons per ha in 2022, remaining constant against 2021 figures. Over the period under review, the yield recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the yield increased by 6.9%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the average banana yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The banana harvested area in India fell slightly to X ha in 2022, remaining constant against 2021 figures. The harvested area increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the harvested area increased by 3.6% against the previous year. Over the period under review, the harvested area dedicated to banana production attained the peak figure at X ha in 2021, and then fell slightly in the following year.

Banana Exports

Exports from India

For the fifth consecutive year, India recorded growth in overseas shipments of bananas, which increased by 6.4% to X tons in 2022. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 97% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, banana exports rose remarkably to $X in 2022. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2014 with an increase of 70% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Iran (X tons), Iraq (X tons) and Nepal (X tons) were the main destinations of banana exports from India, together comprising 61% of total exports. The United Arab Emirates, Oman, Uzbekistan, Saudi Arabia and Kuwait lagged somewhat behind, together accounting for a further 34%.

From 2013 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +598.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), Iraq ($X) and the United Arab Emirates ($X) constituted the largest markets for banana exported from India worldwide, together comprising 64% of total exports. Oman, Uzbekistan, Saudi Arabia, Nepal and Kuwait lagged somewhat behind, together comprising a further 28%.

In terms of the main countries of destination, Uzbekistan, with a CAGR of +655.9%, 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

In 2022, the average banana export price amounted to $X per ton, rising by 6.4% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt decrease. The growth pace was the most rapid in 2020 an increase of 8.8% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.

Banana Imports

Imports into India

In 2022, the amount of bananas imported into India fell significantly to X tons, reducing by -28.3% against the year before. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 1,306% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, banana imports declined sharply to $X in 2022. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 647% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Myanmar (X tons) constituted the largest supplier of banana to India, with a 43% share of total imports. Moreover, banana imports from Myanmar exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold.

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

In value terms, Myanmar ($X) constituted the largest supplier of bananas to India, comprising 43% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Myanmar was relatively modest.

Import Prices by Country

In 2022, the average banana import price amounted to $X per ton, declining by -13% against the previous year. In general, the import price faced a abrupt downturn. The pace of growth was the most pronounced in 2014 when the average import price increased by 115% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Myanmar ($X per ton), while the price for Brazil amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+68.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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