South-Eastern Asia: Banana Market 2025

Banana Market Size in South-Eastern Asia

In 2022, after three years of growth, there was decline in the Southeast Asian banana market, when its value decreased by -1.6% to $X. Overall, consumption recorded a mild decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Banana Production in South-Eastern Asia

In value terms, banana production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2019 when the production volume increased by 8.2% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), the Philippines (X tons) and Vietnam (X tons), together accounting for 83% of total production. Thailand, Lao People's Democratic Republic, Cambodia and Myanmar lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +13.5%), while production for the other leaders experienced more modest paces of growth.

The average banana yield contracted to X tons per ha in 2022, with a decrease of -4.3% against the previous year. The yield figure increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the yield increased by 32% 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.

The banana harvested area expanded slightly to X ha in 2022, surging by 1.6% against 2021 figures. In general, the harvested area, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2020 when the harvested area increased by 11%. 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 Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of bananas were exported in South-Eastern Asia; falling by -3.5% compared with the previous year's figure. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 901%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, banana exports shrank slightly to $X in 2022. In general, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 748%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines represented the main exporting country with an export of about X tons, which amounted to 60% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a 15% share, followed by Cambodia (13%) and Lao People's Democratic Republic (6%). Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to banana exports from the Philippines stood at -12.3%. At the same time, Myanmar (+47.8%), Vietnam (+42.5%), Cambodia (+37.9%) and Lao People's Democratic Republic (+34.6%) 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. From 2012 to 2022, the share of the Philippines and Myanmar increased by +60 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) remains the largest banana supplier in South-Eastern Asia, comprising 69% of total exports. The second position in the ranking was taken by Cambodia ($X), with an 11% share of total exports. It was followed by Vietnam, with a 10% share.

In the Philippines, banana exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Cambodia (+49.5% per year) and Vietnam (+46.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, banana export price increased by +41.9% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of 32%. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Lao People's Democratic Republic ($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 (+15.0%), while the other leaders experienced more modest paces of growth.

Banana Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of bananas decreased by -10.4% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 32% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, banana imports contracted modestly to $X in 2022. In general, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 28% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X tons) was the largest importer of bananas, constituting 39% of total imports. It was distantly followed by Malaysia (X tons), Thailand (X tons), Brunei Darussalam (X tons) and Vietnam (X tons), together generating a 60% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +33.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest banana importing markets in South-Eastern Asia were Singapore ($X), Vietnam ($X) and Malaysia ($X), with a combined 83% share of total imports.

Vietnam, with a CAGR of +62.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2017 when the import price increased by 13%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+21.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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