Singapore: Banana And Plantain Market 2025

Banana And Plantain Market Size in Singapore

The Singaporean banana and plantain market fell slightly to $X in 2022, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value 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. Banana and plantain consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Banana And Plantain Exports

Exports from Singapore

In 2022, shipments abroad of bananas and plantains was finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a precipitous descent. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana and plantain exports soared to $X in 2022. Over the period under review, exports, however, showed a deep reduction. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for banana and plantain exports from Singapore, with a 96% share of total exports. Moreover, banana and plantain exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Indonesia totaled -20.4%.

In value terms, Indonesia ($X) emerged as the key foreign market for bananas and plantains exports from Singapore, comprising 90% of total exports. The second position in the ranking was held by Malaysia ($X), with a 1.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Indonesia amounted to -12.6%.

Export Prices by Country

The average banana and plantain export price stood at $X per ton in 2022, increasing by 67% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 71% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Malaysia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+19.3%), while the prices for the other major destinations experienced mixed trend patterns.

Banana And Plantain Imports

Imports into Singapore

Banana and plantain imports into Singapore declined to X tons in 2022, falling by -9.4% compared with the previous year. The total import volume increased at an average annual rate of +1.5% 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 2020 when imports increased by 8.4%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, banana and plantain imports reduced to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of 16%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia (X tons), the Philippines (X tons) and Indonesia (X tons) were the main suppliers of banana and plantain imports to Singapore, together accounting for 93% of total imports. Vietnam, India and Ecuador lagged somewhat behind, together comprising a further 6.5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +117.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest banana and plantain suppliers to Singapore were the Philippines ($X), Malaysia ($X) and Indonesia ($X), with a combined 86% share of total imports.

Indonesia, with a CAGR of +109.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average banana and plantain import price stood at $X per ton in 2022, picking up by 9.8% against the previous year. In general, the import price continues to indicate slight growth. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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