Uruguay: Banana And Plantain Market 2025

Banana And Plantain Market Size in Uruguay

In 2022, the Uruguayan banana and plantain market increased by 42% to $X, rising for the fourth year in a row after three years of decline. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +48.9% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Banana And Plantain Exports

Exports from Uruguay

In 2022, exports of bananas and plantains from Uruguay dropped markedly to X tons, reducing by -28.1% against the previous year. Over the period under review, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 267%. The exports peaked 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 fell markedly to $X in 2022. In general, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2015 when exports increased by 208% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined notably in the following year.

Exports by Country

The UK (X tons) was the main destination for banana and plantain exports from Uruguay, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled +63.9%.

In value terms, the UK ($X) also remains the key foreign market for bananas and plantains exports from Uruguay.

From 2012 to 2022, the average annual growth rate of value to the UK stood at +70.9%.

Export Prices by Country

In 2022, the average banana and plantain export price amounted to $X per ton, with an increase of 16% against the previous year. Overall, the export price recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of 138%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to +4.3% per year.

Banana And Plantain Imports

Imports into Uruguay

In 2022, after two years of growth, there was decline in purchases abroad of bananas and plantains, when their volume decreased by -2.5% to X tons. The total import volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 18%. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, banana and plantain imports skyrocketed to $X in 2022. Over the period under review, imports, however, posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest banana and plantain supplier to Uruguay, accounting for a 66% share of total imports. Moreover, banana and plantain imports from Brazil exceeded the figures recorded by the second-largest supplier, Ecuador (X tons), twofold. The third position in this ranking was taken by Paraguay (X tons), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-1.1% per year) and Paraguay (+129.0% per year).

In value terms, Brazil ($X), Ecuador ($X) and Paraguay ($X) constituted the largest banana and plantain suppliers to Uruguay, together accounting for 98% of total imports.

Among the main suppliers, Paraguay, with a CAGR of +153.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average banana and plantain import price stood at $X per ton in 2022, increasing by 76% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, banana and plantain import price increased by +81.1% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Paraguay (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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