Turkey: Banana Market 2024

Banana Market Size in Turkey

In 2022, after seven years of growth, there was significant decline in the Turkish banana market, when its value decreased by -13.2% to $X. Over the period under review, consumption, however, continues to indicate a slight expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then reduced in the following year.

Banana Production in Turkey

In value terms, banana production reached $X in 2022 estimated in export price. Overall, production recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 when the production volume increased by 93% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

In 2022, the average yield of bananas in Turkey dropped modestly to X tons per ha, waning by -4.4% compared with the year before. In general, the yield indicated perceptible growth from 2012 to 2022: its figure increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, banana yield increased by +5.0% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the yield increased by 21%. Over the period under review, the average banana yield attained the peak level at X tons per ha in 2021, and then fell modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of bananas were harvested in Turkey; with a decrease of -4.6% against 2021 figures. Over the period under review, the harvested area, however, posted a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 31%. Over the period under review, the harvested area dedicated to banana production attained the maximum at X ha in 2021, and then reduced in the following year.

Banana Exports

Exports from Turkey

For the fifth consecutive year, Turkey recorded decline in shipments abroad of bananas, which decreased by -97.8% to X tons in 2022. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2015 with an increase of 4,362,723% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, banana exports plummeted to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 7,846,140% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Iran (X tons), Iraq (X tons) and Syrian Arab Republic (X tons) were the main destinations of banana exports from Turkey, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +58.0%), while shipments for the other leaders experienced a decline.

In value terms, Iran ($X) remains the key foreign market for bananas exports from Turkey, comprising 43% of total exports. The second position in the ranking was held by Iraq ($X), with a 19% share of total exports. It was followed by Syrian Arab Republic, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran amounted to -50.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+28.9% per year) and Syrian Arab Republic (-39.9% per year).

Export Prices by Country

In 2022, the average banana export price amounted to $X per ton, surging by 26% against the previous year. In general, the export price, however, showed a deep setback. The pace of growth appeared the most rapid in 2015 when the average export price increased by 80%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Iran ($X per ton) and Lebanon ($X per ton), while the average price for exports to Iraq ($X per ton) and Syrian Arab Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Banana Imports

Imports into Turkey

In 2022, the amount of bananas imported into Turkey fell remarkably to X tons, reducing by -80.8% against 2021 figures. In general, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2015 when imports increased by 216%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, banana imports dropped markedly to $X in 2022. Over the period under review, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 199% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest supplier of banana to Turkey, with a 87% share of total imports. Moreover, banana imports from Ecuador exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume from Ecuador totaled -13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (-12.1% per year) and Colombia (-1.3% per year).

In value terms, Ecuador ($X) constituted the largest supplier of bananas to Turkey, comprising 87% of total imports. The second position in the ranking was held by Costa Rica ($X), with a 9.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Ecuador stood at -10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (-8.7% per year) and Colombia (+0.2% per year).

Import Prices by Country

The average banana import price stood at $X per ton in 2022, jumping by 46% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Costa Rica ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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