Philippines: Plantain Market 2024

Plantain Market Size in the Philippines

In 2022, after two years of growth, there was decline in the Philippine plantain market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Plantain consumption peaked at $X in 2021, and then shrank in the following year.

Plantain Production in the Philippines

In value terms, plantain production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Plantain production peaked at $X in 2021, and then declined in the following year.

In 2022, the average yield of plantains in the Philippines contracted slightly to X tons per ha, approximately mirroring 2021 figures. In general, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The plantain yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the 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.

In 2022, approx. X ha of plantains were harvested in the Philippines; leveling off at the previous year's figure. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. The plantain harvested area peaked at X ha in 2021, and then declined in the following year.

Plantain Exports

Exports from the Philippines

Plantain exports from the Philippines contracted remarkably to X tons in 2022, falling by X% against 2021. Overall, exports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, plantain exports contracted sharply to $X in 2022. In general, exports faced a sharp contraction. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of plantain exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), Japan ($X) and South Korea ($X) appeared to be the largest markets for plantain exported from the Philippines worldwide, with a combined X% share of total exports.

Among the main countries of destination, Japan, with a CAGR of X%, 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 mixed trend patterns.

Export Prices by Country

The average plantain export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plantain export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Saudi Arabia ($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 Qatar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plantain Imports

Imports into the Philippines

In 2022, approx. X kg of plantains were imported into the Philippines; approximately reflecting the year before. Overall, imports posted a strong increase. The smallest decline of X% was in 2018. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, plantain imports stood at $X in 2022. Over the period under review, imports continue to indicate a dramatic setback. The smallest decline of X% was in 2018. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sri Lanka (X kg) was the main plantain supplier to the Philippines, accounting for a approx. X% share of total imports.

From 2017 to 2022, the average annual growth rate of volume from Sri Lanka was relatively modest.

In value terms, Sri Lanka ($X) constituted the largest supplier of plantains to the Philippines.

From 2017 to 2022, the average annual growth rate of value from Sri Lanka was relatively modest.

Import Prices by Country

In 2022, the average plantain import price amounted to $X per ton, almost unchanged from the previous year. In general, the import price continues to indicate a sharp descent. The pace of growth appeared the most rapid in 2018 a decrease of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Sri Lanka.

From 2017 to 2022, the rate of growth in terms of prices for Sri Lanka amounted to X% per year.

Source: IndexBox Platform

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