Greece - Bananas - Market Analysis, Forecast, Size, Trends and Insights

Greece: Banana Market Overview 2019

Banana Market Size in Greece

The revenue of the banana market in Greece amounted to $X in 2017, surging by X% against the previous year. The market value increased an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations over the period under review. The pace of growth appeared the most rapid in 2008, with an increase of X% against the previous year. In that year, the banana market attained their peak level of $X. From 2009 to 2017, growth of the banana market stood at a somewhat lower level.

Banana Production in Greece

In 2017, the amount of bananas produced in Greece stood at X tonnes, increasing by X% against the previous year. Overall, the total output indicated a moderate increase from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the banana production increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2016, with an increase of X% year-to-year. Over the period under review, the banana production attained its peak figure volume of X tonnes in 2011; however, from 2012 to 2017, it stood at a somewhat lower level. Banana output in Greece indicated a moderate increase, which was largely conditioned by a moderate increase of the harvested area and a prominent growth in yield figures.

In 2017, average yield of bananas in Greece stood at X tonne per ha, increasing by X% against the previous year. Overall, banana yield continues to indicate a strong increase. The growth pace was the most rapid in 2014, when yield increased by X% year-to-year. Over the period under review, the average banana yield reached its maximum level in 2017, and is expected to retain its growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

Banana harvested area in Greece stood at X ha in 2017, picking up by X% against the previous year. In general, banana harvested area continues to indicate a drastic descent. The pace of growth was the most pronounced in 2017, when harvested area increased by X% against the previous year. The banana harvested area peaked of X ha in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Banana Exports

Exports from Greece

In 2017, banana exports from Greece stood at X tonnes, increasing by X% against the previous year. Overall, banana exports continue to indicate a strong growth. The pace of growth appeared the most rapid in 2011, with an increase of X% year-to-year. The exports peaked in 2017, and are likely to continue its growth in the immediate term.

In value terms, banana exports stood at $X in 2017. In general, banana exports continue to indicate a prominent increase. In that year, the banana exports attained their peak level of $X. From 2012 to 2017, growth of the banana exports stood at a somewhat lower level.

Exports by Country

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

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Belgium (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X), Romania ($X) and Cyprus ($X) were the largest markets for banana exported from Greece worldwide, together comprising X% of total exports. Belgium lagged somewhat behind, accounting for a further X%.

Among the main countries of destination, Belgium (+X% per year) recorded the highest growth rate of exports, over the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The average banana export price stood at $X per tonne in 2017, reducing by -X% against the previous year. Overall, banana export price continues to indicate a moderate slump. The most prominent rate of growth was recorded in 2008, an increase of X% against the previous year. In that year, the average export prices for bananas reached their peak level of $X per tonne. From 2009 to 2017, growth of the average export prices for bananas stood at a somewhat lower level.

Average export prices varied somewhat for the major foreign markets. In 2017, the highest prices were recorded for export prices to Cyprus ($X per tonne) and Belgium ($X per tonne), while average price for exports to Bulgaria ($X per tonne) and Romania ($X per tonne) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was recorded for supplies to Cyprus (-X% per year), the export prices for other major destinations experienced a decline.

Banana Imports

Imports into Greece

Banana imports into Greece totaled X tonnes in 2017, rising by X% against the previous year. The total import volume increased an average annual rate of +X% over the period from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations over the period under review. The most prominent rate of growth was recorded in 2017, with an increase of X% y-o-y. In that year, the banana imports attained their peak volume, and are likely to continue its growth in the immediate term.

In value terms, banana imports stood at $X in 2017. The total import value increased an average annual rate of +X% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations throughout the analyzed period. Over the period under review, the banana imports reached its peak figure level in 2017, and are likely to see steady growth in the immediate term.

Imports by Country

In 2017, Ecuador (X tonnes) constituted the largest banana supplier to Greece, accounting for X% share of total imports. Moreover, banana imports from Ecuador exceeded the figures recorded by the second largest supplier, Cameroon (X tonnes), threefold. Costa Rica (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2017, the average annual growth rate of volume from Ecuador stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Cameroon (-X% per year) and Costa Rica (+X% per year).

In value terms, Ecuador ($X) constituted the largest supplier of banana to Greece, making up X% of total banana imports. The second position in the ranking was occupied by Costa Rica ($X), with a X% share of total imports. It was followed by Cameroon, with a X% share.

From 2007 to 2017, the average annual growth rate 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 Cameroon (-X% per year).

Import Prices by Country

In 2017, the average banana import price amounted to $X per tonne, approximately mirroring the previous year. In general, banana import price continues to indicate a moderate descent. The pace of growth appeared the most rapid in 2008, when the average import price increased by X% year-to-year. In that year, the average import prices for bananas reached their peak level of $X per tonne. From 2009 to 2017, growth of the average import prices for bananas failed to regain its momentum.

There were significant differences in the average import prices amongst the major supplying countries. In 2017, the country with the highest import price was Panama ($X per tonne), while price for Cameroon ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Panama (-X% per year), the import prices for other major suppliers experienced a decline.

Source: IndexBox AI Platform