Report Update Nov 1, 2024

Puerto Rico - Bananas - Market Analysis, Forecast, Size, Trends and Insights

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Puerto Rico: Banana And Plantain Market 2024

Banana And Plantain Market Size in Puerto Rico

The Puerto Rican banana and plantain market amounted to $X in 2021, standing approx. at the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Banana And Plantain Production in Puerto Rico

In value terms, banana and plantain production totaled $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 20%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

The average yield of bananas and plantains in Puerto Rico shrank slightly to X tons per ha in 2021, approximately mirroring 2020 figures. The yield figure increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the yield increased by 20%. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2021, the growth of the banana and plantain 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 and plantain harvested area in Puerto Rico was estimated at X ha in 2021, stabilizing at 2020 figures. Over the period under review, the harvested area, however, saw a slight shrinkage. The growth pace was the most rapid in 2015 when the harvested area increased by 8.5% against the previous year. Over the period under review, the harvested area dedicated to banana and plantain production reached the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area failed to regain momentum.

Banana And Plantain Exports

Exports by Country

In 2021, Ecuador (X tons), distantly followed by Guatemala (X tons), Costa Rica (X tons), Colombia (X tons) and the Philippines (X tons) represented the main exporters of bananas and plantains, together achieving 63% of total exports. Belgium (X tons), the Netherlands (X tons), the United States (X tons), Mexico (X tons), Panama (X tons), Cote d'Ivoire (X tons), Vietnam (X tons) and Honduras (X tons) followed a long way behind the leaders.

Exports from Ecuador increased at an average annual rate of +2.1% from 2012 to 2021. At the same time, Panama (+498.7%), Vietnam (+49.4%), the Netherlands (+23.8%), Mexico (+12.9%), Guatemala (+3.6%), Colombia (+2.2%), the United States (+1.6%) and Costa Rica (+1.5%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing exporter exported in the world, with a CAGR of +498.7% from 2012-2021. By contrast, Belgium (-2.8%), Cote d'Ivoire (-4.1%), Honduras (-6.0%) and the Philippines (-6.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands, Panama and Vietnam increased by +3.2, +1.8 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest banana and plantain supplier from Puerto Rico, comprising 28% of global exports. The second position in the ranking was held by Costa Rica ($X), with an 11% share of global exports. It was followed by the Philippines, with a 7.5% share.

In Ecuador, banana and plantain exports increased at an average annual rate of +1.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Costa Rica (+0.6% per year) and the Philippines (+6.3% per year).

Banana And Plantain Imports

Imports by Country

In 2021, the United States (X tons), distantly followed by China (X tons), Russia (X tons), the Netherlands (X tons), Germany (X tons) and Belgium (X tons) represented the main importers of bananas and plantains, together creating 50% of total imports. The following importers - Japan (X tons), the UK (X tons), Italy (X tons), France (X tons), Canada (X tons), Poland (X tons) and Argentina (X tons) - together made up 21% of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of bananas and plantains. At the same time, the Netherlands (+18.2%), China (+12.9%), Poland (+10.2%), France (+3.5%), Argentina (+3.0%), Italy (+2.7%), Germany (+1.8%) and Canada (+1.7%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +18.2% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, the UK (-1.2%), Belgium (-1.6%) and Russia (-4.6%) illustrated a downward trend over the same period. While the share of China (+4.4 p.p.) and the Netherlands (+4.3 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Belgium (-1.9 p.p.), the United States (-2.6 p.p.) and Russia (-5.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported bananas and plantains into Puerto Rico, comprising 15% of global imports. The second position in the ranking was taken by Germany ($X), with a 7% share of global imports. It was followed by the Netherlands, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+1.7% per year) and the Netherlands (+18.1% per year).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bananas and plantains in the world?

The country with the largest volume of banana and plantain consumption was India, comprising approx. 18% of total volume. Moreover, banana and plantain consumption in India exceeded the figures recorded by the second-largest consumer, China, twofold. Uganda ranked third in terms of total consumption with a 4.7% share.

What are the largest producers of bananas and plantains in the world?

India constituted the country with the largest volume of banana and plantain production, comprising approx. 19% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China, threefold. The third position in this ranking was occupied by the Philippines, with a 5.6% share.

What are the leading suppliers of bananas and plantains to Puerto Rico?

In value terms, the United States constitutes the largest market for imported bananas and plantains into Puerto Rico, comprising 15% of global imports. The second position in the ranking was occupied by Germany, with a 6.9% share of global imports. It was followed by the Netherlands, with a 6.8% share.

What are the leading importers of bananas and plantains from Puerto Rico?

In value terms, the largest banana and plantain supplying countries from Puerto Rico were Ecuador, Costa Rica and Guatemala, together accounting for 41% of total exports. These countries were followed by the Philippines, Colombia, the Netherlands, Belgium, the United States, Panama, Myanmar, Mexico and Honduras, which together accounted for a further 40%.

What is the average export price for bananas and plantains in Puerto Rico?

The banana and plantain export price in Puerto Rico stood at $less than 0.1 per ton in 2021, remaining stable against the previous year.

What is the average import price for bananas and plantains in Puerto Rico?

In 2021, the banana and plantain import price in Puerto Rico amounted to $less than 0.1 per ton, approximately reflecting the previous year.

This report provides an in-depth analysis of the banana and plantain market in Puerto Rico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 486 - Bananas
FCL 489 - Plantains

Country coverage:

Puerto Rico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Puerto Rico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023