Asia: Banana And Plantain Market 2024

Banana And Plantain Market Size in Asia

In 2022, the Asian banana and plantain market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then declined in the following year.

Banana And Plantain Production in Asia

In value terms, banana and plantain production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

India (X tons) constituted the country with the largest volume of banana and plantain production, accounting for X% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China (X tons), threefold. The third position in this ranking was taken by the Philippines (X tons), with a X% share.

In India, banana and plantain production expanded at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (X% per year) and the Philippines (X% per year).

In 2022, the average yield of bananas and plantains in Asia reached X tons per ha, remaining relatively unchanged against the year before. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2020; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The banana and plantain harvested area totaled X ha in 2022, flattening at the previous year's figure. Overall, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to banana and plantain production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Banana And Plantain Exports

Exports in Asia

Banana and plantain exports declined slightly to X tons in 2022, dropping by X% compared with the year before. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure 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 shrank modestly to $X in 2022. Overall, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines was the main exporter of bananas and plantains in Asia, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Vietnam (X tons), India (X tons) and Cambodia (X tons), together generating a X% share of total exports. Pakistan (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons) held a minor share of total exports.

Exports from the Philippines decreased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%), Vietnam (X%), Cambodia (X%), Lao People's Democratic Republic (X%), India (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Vietnam (X p.p.), Cambodia (X p.p.), India (X p.p.), Pakistan (X p.p.), Myanmar (X p.p.) and Lao People's Democratic Republic (X p.p.) significantly strengthened its position in terms of the total exports, while the Philippines saw its share reduced by X% from 2012 to 2022, respectively.

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

In the Philippines, banana and plantain exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Cambodia (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Pakistan ($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 (X%), while the other leaders experienced more modest paces of growth.

Banana And Plantain Imports

Imports in Asia

Banana and plantain imports contracted remarkably to X tons in 2022, waning by X% against 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, banana and plantain imports declined to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons), distantly followed by Japan (X tons), South Korea (X tons) and Iraq (X tons) were the major importers of bananas and plantains, together committing X% of total imports. The following importers - Saudi Arabia (X tons), the United Arab Emirates (X tons), Uzbekistan (X tons), Iran (X tons), Afghanistan (X tons) and Kazakhstan (X tons) - together made up X% of total imports.

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

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. The United Arab Emirates, Saudi Arabia, Iraq, Uzbekistan, Iran, Kazakhstan and Afghanistan lagged somewhat behind, together comprising a further X%.

Uzbekistan, with a CAGR of X%, saw 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 Asia amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Afghanistan ($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 United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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