Suriname: Banana Market 2020

Banana Market Size in Suriname

The revenue of the banana market in Suriname amounted to $X in 2018, surging by X% against the previous year. Overall, banana consumption continues to indicate skyrocketing growth. The most prominent rate of growth was recorded in 2018 when the market value increased by X% year-to-year. In that year, the banana market reached its peak level and is likely to continue its growth in the immediate term.

Banana Production in Suriname

In value terms, banana production stood at $X in 2018 estimated in export prices. Over the period under review, the total output indicated a notable expansion from 2007 to 2018: its value decreased at an average annual rate of -X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, banana production decreased by -X% against 2012 indices. The pace of growth appeared the most rapid in 2008 with an increase of X% y-o-y. Suriname banana production peaked at $X in 2012; however, from 2013 to 2018, production failed to regain its momentum.

Average yield of bananas in Suriname totaled X ton per ha in 2018, dropping by -X% against the previous year. Overall, the banana yield continues to indicate a slight decline. The growth pace was the most rapid in 2012 when yield increased by X% y-o-y. In that year, the banana yield attained its peak level of X ton per ha. From 2013 to 2018, the growth of the banana yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2018, the harvested area of bananas in Suriname totaled X ha, remaining stable against the previous year. Overall, the banana harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 when harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to banana production attained its peak figure at X ha in 2013; however, from 2014 to 2018, harvested area stood at a somewhat lower figure.

Banana Exports

Exports from Suriname

In 2018, approx. X tons of bananas were exported from Suriname; shrinking by -X% against the previous year. In general, banana exports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. In that year, banana exports attained their peak of X tons. From 2013 to 2018, the growth of banana exports remained at a somewhat lower figure.

In value terms, banana exports totaled $X in 2018. Overall, the total exports indicated a temperate increase from 2007 to 2018: its value decreased at an average annual rate of -X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, banana exports decreased by -X% against 2012 indices. The most prominent rate of growth was recorded in 2008 when exports increased by X% year-to-year. Suriname exports peaked at $X in 2012; however, from 2013 to 2018, exports failed to regain their momentum.

Exports by Country

In 2018, Ecuador (X tons), distantly followed by Costa Rica (X tons), Guatemala (X tons), the Philippines (X tons), Colombia (X tons) and Belgium (X tons) were the major exporters of bananas, together generating X% of total exports. The Netherlands (X tons), Honduras (X tons), the U.S. (X tons), Mexico (X tons), Cote d'Ivoire (X tons) and Cameroon (X tons) followed a long way behind the leaders.

Ecuador experienced a relatively flat trend pattern of bananas exports. At the same time, Mexico (+X%), the Netherlands (+X%), Guatemala (+X%), Cote d'Ivoire (+X%), Cameroon (+X%), the U.S. (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Honduras, Colombia, Costa Rica and the Philippines experienced a relatively flat trend pattern. From 2007 to 2018, the share of Guatemala, the Netherlands, Mexico and Ecuador increased by +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest banana supplier from Suriname, comprising X% of global exports. The second position in the ranking was occupied by Costa Rica ($X), with a X% share of global exports. It was followed by Guatemala, with a X% share.

In Ecuador, banana exports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Costa Rica (+X% per year) and Guatemala (+X% per year).

Export Prices by Country

The banana export price in Suriname stood at $X per ton in 2018, jumping by X% against the previous year. Overall, the export price indicated a prominent expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, banana export price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2016 an increase of X% year-to-year. Suriname export price peaked in 2018 and is expected to retain its growth in the near future.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Cameroon, while the other leaders experienced more modest paces of growth.

Banana Imports

Imports into Suriname

In 2018, approx. X tons of bananas were imported into Suriname; going up by X% against the previous year. In general, banana imports continue to indicate an extraordinary increase. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. Over the period under review, banana imports attained their maximum in 2018 and are likely to see steady growth in the immediate term.

In value terms, banana imports totaled $X in 2018. Overall, banana imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. Over the period under review, banana imports reached their maximum in 2018 and are likely to continue its growth in the near future.

Imports by Country

The U.S. represented the main importing country with an import of about X tons, which recorded X% of total imports. Russia (X tons) took a X% share (based on tons) of total imports, which put it in second place, followed by Germany (X%), Belgium (X%), China (X%) and the UK (X%). Japan (X tons), Italy (X tons), France (X tons), the Netherlands (X tons), Canada (X tons) and Iran (X tons) followed a long way behind the leaders.

Imports into the U.S. increased at an average annual rate of +X% from 2007 to 2018. At the same time, China (+X%), the Netherlands (+X%), Iran (+X%), Russia (+X%), France (+X%), Canada (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. The UK, Belgium, Japan and Germany experienced a relatively flat trend pattern. The U.S. (+X p.p.), China (+X p.p.), Russia (+X p.p.) and the Netherlands (+X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported bananas into Suriname, comprising X% of global imports. The second position in the ranking was occupied by Belgium ($X), with a X% share of global imports. It was followed by Russia, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. stood at +X%. In the other countries, the average annual rates were as follows: Belgium (-X% per year) and Russia (+X% per year).

Import Prices by Country

In 2018, the banana import price in Suriname amounted to $X per ton, increasing by X% against the previous year. In general, the banana import price, however, continues to indicate an abrupt shrinkage. The most prominent rate of growth was recorded in 2011 when the import price increased by X% year-to-year. Over the period under review, the import prices for bananas reached their peak figure at $X per ton in 2007; however, from 2008 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Belgium ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform