Mexico: Banana And Plantain Market 2025

Banana And Plantain Market Size in Mexico

The Mexican banana and plantain market declined slightly to $X in 2022, approximately mirroring the previous year. In general, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +1.8% against 2020 indices. Banana and plantain consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Banana And Plantain Production in Mexico

In value terms, banana and plantain production fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +3.5% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 36%. Banana and plantain production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

In 2022, the average yield of bananas and plantains in Mexico was estimated at X tons per ha, leveling off at the year before. In general, the yield recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 4.4% against the previous year. Over the period under review, the average banana and plantain yield hit record highs at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. 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 Mexico stood at X ha, remaining stable against the year before. Over the period under review, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 4%. Over the period under review, the harvested area dedicated to banana and plantain production reached the maximum at X ha in 2020; afterwards, it flattened through to 2022.

Banana And Plantain Exports

Exports from Mexico

In 2022, after four years of growth, there was decline in overseas shipments of bananas and plantains, when their volume decreased by -4.4% to X tons. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +11.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.0% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 108%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped modestly in the following year.

In value terms, banana and plantain exports amounted to $X in 2022. Over the period under review, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 133% 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

The United States (X tons) was the main destination for banana and plantain exports from Mexico, accounting for a 85% share of total exports. Moreover, banana and plantain exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +11.5%.

In value terms, the United States ($X) remains the key foreign market for bananas and plantains exports from Mexico, comprising 85% of total exports. The second position in the ranking was taken by Japan ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +14.6%.

Export Prices by Country

The average banana and plantain export price stood at $X per ton in 2022, growing by 4.7% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, banana and plantain export price decreased by -35.5% against 2018 indices. The pace of growth appeared the most rapid in 2017 an increase of 46%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Banana And Plantain Imports

Imports into Mexico

Banana and plantain imports into Mexico fell significantly to X tons in 2022, reducing by -80% compared with the previous year's figure. In general, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2015 when imports increased by 694%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, banana and plantain imports fell remarkably to $X in 2022. Overall, imports faced a deep downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 242%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest banana and plantain supplier to Mexico, with a 88% share of total imports. Moreover, banana and plantain imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled -8.7%.

In value terms, the United States ($X) constituted the largest supplier of bananas and plantains to Mexico, comprising 75% of total imports. The second position in the ranking was held by Spain ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -9.5%.

Import Prices by Country

In 2022, the average banana and plantain import price amounted to $X per ton, declining by -10.3% against the previous year. Over the period under review, the import price recorded a slight reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 138% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a 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 Spain ($X per ton), while the price for the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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