Slovakia: Banana Market 2024

Banana Market Size in Slovakia

The Slovak banana market dropped to $X in 2022, reducing by -9.1% against 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 +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Banana Exports

Exports from Slovakia

In 2022, shipments abroad of bananas decreased by -13.7% to X tons, falling for the fourth year in a row after five years of growth. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 111%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana exports fell sharply to $X in 2022. Overall, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 118% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Hungary (X tons) was the main destination for banana exports from Slovakia, with a 95% share of total exports. It was followed by the Czech Republic (X tons), with a 2.8% share of total exports. Ukraine (X tons) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Hungary stood at +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-19.6% per year) and Ukraine (+64,181.6% per year).

In value terms, Hungary ($X) remains the key foreign market for bananas exports from Slovakia, comprising 93% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 3.2% share of total exports. It was followed by Ukraine, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to Hungary amounted to +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-19.3% per year) and Ukraine (+63,241.4% per year).

Export Prices by Country

In 2022, the average banana export price amounted to $X per ton, reducing by -2% against the previous year. Over the period under review, the export price saw a slight setback. The most prominent rate of growth was recorded in 2017 an increase of 6%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Hungary ($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 Greece (+41.3%), while the prices for the other major destinations experienced mixed trend patterns.

Banana Imports

Imports into Slovakia

In 2022, the amount of bananas imported into Slovakia contracted sharply to X tons, reducing by -15.2% compared with the year before. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2015 when imports increased by 29% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced remarkably in the following year.

In value terms, banana imports shrank to $X in 2022. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +9.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

Cameroon (X tons), Colombia (X tons) and Ecuador (X tons) were the main suppliers of banana imports to Slovakia, together accounting for 78% of total imports. Costa Rica, Panama, Poland, the Netherlands, Cote d'Ivoire and the Czech Republic lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +71.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cameroon ($X), Colombia ($X) and Ecuador ($X) constituted the largest banana suppliers to Slovakia, together comprising 77% of total imports. Costa Rica, Panama, the Netherlands, Poland, Cote d'Ivoire and the Czech Republic lagged somewhat behind, together comprising a further 18%.

Poland, with a CAGR of +50.1%, recorded the highest rates of growth with regard to 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

In 2022, the average banana import price amounted to $X per ton, surging by 8.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 17% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Czech Republic ($X per ton) and the Netherlands ($X per ton), while the price for Poland ($X per ton) and Cameroon ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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