Vietnam: Banana And Plantain Market 2025

Banana And Plantain Market Size in Vietnam

The Vietnamese banana and plantain market shrank to $X in 2022, falling by -8.1% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Banana And Plantain Production in Vietnam

In value terms, banana and plantain production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 31%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

The average yield of bananas and plantains in Vietnam declined modestly to X tons per ha in 2022, almost unchanged from the year before. Overall, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the yield increased by 2.2%. As a result, the yield attained the peak level of X tons per ha, and then contracted slightly 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, the harvested area of bananas and plantains in Vietnam shrank slightly to X ha, stabilizing at 2021. The harvested area increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 4.5%. Over the period under review, the harvested area dedicated to banana and plantain production attained the peak figure at X ha in 2021, and then dropped modestly in the following year.

Banana And Plantain Exports

Exports from Vietnam

For the fifth consecutive year, Vietnam recorded growth in shipments abroad of bananas and plantains, which increased by 30% to X tons in 2022. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 675%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, banana and plantain exports soared to $X in 2022. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 662% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

China (X tons) was the main destination for banana and plantain exports from Vietnam, with a 90% share of total exports. Moreover, banana and plantain exports to China exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold. The third position in this ranking was held by Malaysia (X tons), with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +53.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+89.0% per year) and Malaysia (+95.9% per year).

In value terms, China ($X) remains the key foreign market for bananas and plantains exports from Vietnam, comprising 86% of total exports. The second position in the ranking was taken by South Korea ($X), with a 7% share of total exports. It was followed by Japan, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +62.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+91.2% per year) and Japan (+117.2% per year).

Export Prices by Country

The average banana and plantain export price stood at $X per ton in 2022, growing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2013 an increase of 27% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Banana And Plantain Imports

Imports into Vietnam

In 2022, supplies from abroad of bananas and plantains decreased by -98.6% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, imports faced a sharp reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 3,550% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, banana and plantain imports reduced notably to $X in 2022. In general, imports showed a precipitous shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 3,362%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Cambodia (X tons), Lao People's Democratic Republic (X tons) and Thailand (X tons) were the main suppliers of banana and plantain imports to Vietnam, with a combined 100% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lao People's Democratic Republic (with a CAGR of +31.5%), while imports for the other leaders experienced a decline.

In value terms, Cambodia ($X), Lao People's Democratic Republic ($X) and Thailand ($X) constituted the largest banana and plantain suppliers to Vietnam, together accounting for 100% of total imports.

Lao People's Democratic Republic, with a CAGR of +35.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average banana and plantain import price amounted to $X per ton, with an increase of 3.9% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 52% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :