South-Eastern Asia: Banana And Plantain Market 2024

Banana And Plantain Market Size in South-Eastern Asia

After four years of growth, the Southeast Asian banana and plantain market decreased by -0.8% to $X in 2022. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Banana And Plantain Production in South-Eastern Asia

In value terms, banana and plantain production declined modestly to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 37% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were the Philippines (X tons), Indonesia (X tons) and Vietnam (X tons), with a combined 82% share of total production. Myanmar, Thailand, Lao People's Democratic Republic and Cambodia lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Cambodia (with a CAGR of +10.4%), while production for the other leaders experienced more modest paces of growth.

The average banana and plantain yield contracted modestly to X tons per ha in 2022, shrinking by -3.4% against the previous year. The yield figure increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 18% against the previous year. The level of 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, the banana and plantain harvested area in South-Eastern Asia amounted to X ha, almost unchanged from 2021. Overall, the harvested area, however, showed a slight decrease. The pace of growth was the most pronounced in 2020 when the harvested area increased by 7.5%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Banana And Plantain Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of bananas and plantains decreased by -3.7% to X tons, falling for the second consecutive year after five years of growth. In general, exports showed a slight setback. The growth pace was the most rapid in 2017 when exports increased by 87% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana and plantain exports reached $X in 2022. Overall, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 67%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the Philippines (X tons) represented the main exporter of bananas and plantains, making up 57% of total exports. Vietnam (X tons) held the second position in the ranking, followed by Cambodia (X tons). All these countries together took near 35% share of total exports. Myanmar (X tons), Lao People's Democratic Republic (X tons) and Malaysia (X tons) held a minor share of total exports.

Exports from the Philippines decreased at an average annual rate of -6.3% from 2012 to 2022. At the same time, Myanmar (+47.8%), Vietnam (+47.0%), Cambodia (+41.9%) and Lao People's Democratic Republic (+23.3%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +47.8% from 2012-2022. Malaysia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Vietnam, Cambodia, Myanmar and Lao People's Democratic Republic increased by +20, +14, +3.5 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) remains the largest banana and plantain supplier in South-Eastern Asia, comprising 62% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 16% share of total exports. It was followed by Cambodia, with a 13% share.

In the Philippines, banana and plantain exports expanded at an average annual rate of +5.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+49.7% per year) and Cambodia (+57.2% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, increasing by 5.3% against the previous year. In general, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 34%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+12.4%), while the other leaders experienced more modest paces of growth.

Banana And Plantain Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of bananas and plantains decreased by -29.5% to X tons, falling for the second consecutive year after six years of growth. In general, imports, however, saw a temperate expansion. The growth pace was the most rapid in 2020 with an increase of 27%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, banana and plantain imports declined markedly to $X in 2022. Overall, imports, however, saw temperate growth. The pace of growth appeared the most rapid in 2018 when imports increased by 28%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Singapore represented the major importer of bananas and plantains in South-Eastern Asia, with the volume of imports resulting at X tons, which was near 50% of total imports in 2022. Thailand (X tons) ranks second in terms of the total imports with a 22% share, followed by Brunei Darussalam (21%) and Malaysia (4.7%). Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to banana and plantain imports into Singapore stood at +1.5%. At the same time, Brunei Darussalam (+26.9%), Thailand (+4.6%) and Malaysia (+1.6%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +26.9% from 2012-2022. By contrast, Lao People's Democratic Republic (-2.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brunei Darussalam and Thailand increased by +18 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported bananas and plantains in South-Eastern Asia, comprising 61% of total imports. The second position in the ranking was taken by Brunei Darussalam ($X), with a 19% share of total imports. It was followed by Thailand, with a 10% share.

In Singapore, banana and plantain imports expanded at an average annual rate of +2.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brunei Darussalam (+19.2% per year) and Thailand (+4.5% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, falling by -3.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 13%. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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