MERCOSUR: Banana And Plantain Market 2025

Banana And Plantain Market Size in MERCOSUR

In 2022, the MERCOSUR banana and plantain market increased by 8.9% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Banana And Plantain Production in MERCOSUR

In value terms, banana and plantain production stood at $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 14%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Ecuador (X tons), Brazil (X tons) and Colombia (X tons), with a combined 83% share of total production. Peru and Venezuela lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of +3.0%), while production for the other leaders experienced more modest paces of growth.

The average banana and plantain yield shrank to X tons per ha in 2022, with a decrease of -7.7% against 2021 figures. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 5.9%. The level of yield peaked at X tons per ha in 2021, and then reduced 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 banana and plantain harvested area in MERCOSUR stood at X ha, stabilizing at the year before. Over the period under review, the harvested area, however, saw a mild contraction. The growth pace was the most rapid in 2019 with an increase of 7.3%. Over the period under review, the harvested area dedicated to banana and plantain production reached the peak figure at X ha in 2015; however, from 2016 to 2022, the harvested area remained at a lower figure.

Banana And Plantain Exports

Exports in MERCOSUR

In 2022, after three years of growth, there was significant decline in shipments abroad of bananas and plantains, when their volume decreased by -24.1% to X tons. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 23% against the previous year. The volume of export peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, banana and plantain exports shrank sharply to $X in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when exports increased by 20%. Over the period under review, the exports hit record highs at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Ecuador was the largest exporter of bananas and plantains in MERCOSUR, with the volume of exports finishing at X tons, which was near 68% of total exports in 2022. It was distantly followed by Colombia (X tons), comprising a 28% share of total exports. Peru (X tons) followed a long way behind the leaders.

Ecuador experienced a relatively flat trend pattern with regard to volume of exports of bananas and plantains. At the same time, Peru (+7.1%) and Colombia (+2.2%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +7.1% from 2012-2022. Colombia (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Ecuador saw its share reduced by -4.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest banana and plantain supplier in MERCOSUR, comprising 75% of total exports. The second position in the ranking was taken by Colombia ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Ecuador was relatively modest. In the other countries, the average annual rates were as follows: Colombia (+2.5% per year) and Peru (+9.5% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, rising by 1.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 17%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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 Peru ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Banana And Plantain Imports

Imports in MERCOSUR

After three years of growth, purchases abroad of bananas and plantains decreased by -5.2% to X tons in 2022. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 9.7%. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, banana and plantain imports soared to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.7% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Argentina (X tons) was the key importer of bananas and plantains, committing 61% of total imports. It was distantly followed by Chile (X tons) and Uruguay (X tons), together comprising a 39% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Uruguay (with a CAGR of +3.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) constitutes the largest market for imported bananas and plantains in MERCOSUR, comprising 67% of total imports. The second position in the ranking was taken by Chile ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Argentina totaled +7.6%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (+7.3% per year) and Uruguay (+10.5% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, surging by 24% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform