Greece: Banana Market 2024

Banana Market Size in Greece

The Greek banana market fell slightly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Banana Production in Greece

In value terms, banana production declined to $X in 2022 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of bananas in Greece declined modestly to X tons per ha, shrinking by X% against the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 when the yield increased by X% against the previous year. The banana yield peaked at X tons per ha in 2021, and then shrank 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, approx. X ha of bananas were harvested in Greece; therefore, remained relatively stable against the previous year. The harvested area 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 growth pace was the most rapid in 2017 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to banana production reached the peak figure in 2022 and is expected to retain growth in the near future.

Banana Exports

Exports from Greece

After three years of decline, overseas shipments of bananas increased by X% to X tons in 2022. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, banana exports skyrocketed to $X in 2022. Overall, exports enjoyed a prominent expansion. The growth pace was the most rapid in 2018 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Romania (X tons), Bulgaria (X tons) and Cyprus (X tons) were the main destinations of banana exports from Greece, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for banana exported from Greece were Romania ($X), Bulgaria ($X) and Cyprus ($X), with a combined X% share of total exports.

Romania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average banana export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. 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 failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Bulgaria ($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 Romania (X%), while the prices for the other major destinations experienced a decline.

Banana Imports

Imports into Greece

In 2022, banana imports into Greece declined slightly to X tons, falling by X% on the previous year's figure. In general, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2018 indices. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, banana imports totaled $X in 2022. Overall, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest banana supplier to Greece, accounting for a X% share of total imports. Moreover, banana imports from Ecuador exceeded the figures recorded by the second-largest supplier, Costa Rica (X tons), more than tenfold. Colombia (X tons) ranked third in terms of total imports with a X% share.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value from Ecuador totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (X% per year) and Colombia (X% per year).

Import Prices by Country

In 2022, the average banana import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Ecuador ($X per ton) and Colombia ($X per ton), while the price for Guatemala ($X per ton) and Costa Rica ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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