Guam: Banana Market 2020

Banana Market Size in Guam

The revenue of the banana market in Guam amounted to $X in 2018, going up by X% against the previous year. In general, banana consumption continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. In that year, the banana market reached its peak level and is likely to continue its growth in the immediate term.

Banana Production in Guam

In value terms, banana production totaled $X in 2018 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when production volume increased by X% year-to-year. In that year, banana production attained its peak level of $X, and then declined slightly in the following year.

Average yield of bananas in Guam amounted to X ton per ha in 2018, declining by -X% against the previous year. Over the period under review, the banana yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when yield increased by X% y-o-y. In that year, the banana yield attained its peak level of X ton per ha, and then declined 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 2018, approx. X ha of bananas were harvested in Guam; therefore, remained relatively stable against the previous year. Overall, the banana harvested area continues to indicate a relatively flat trend pattern. Over the period under review, the harvested area dedicated to banana production attained its maximum at X ha in 2007; afterwards, it flattened through to 2018.

Banana Exports

Exports from Guam

In 2018, the banana exports from Guam totaled X tons, shrinking by -X% against the previous year. Over the period under review, banana exports continue to indicate a drastic curtailment. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. Guam exports peaked at X tons in 2017, and then declined slightly in the following year.

In value terms, banana exports amounted to $X in 2018. In general, banana exports continue to indicate a deep curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, banana exports reached their peak figure at $X in 2017, and then declined slightly in the following year.

Exports by Country

In 2018, Ecuador (X tons), distantly followed by Costa Rica (X tons), Guatemala (X tons), the Philippines (X tons), Colombia (X tons) and Belgium (X tons) represented the main exporters of bananas, together achieving X% of total exports. The following exporters - the Netherlands (X tons), Honduras (X tons), the U.S. (X tons), Mexico (X tons), Cote d'Ivoire (X tons) and Cameroon (X tons) - together made up X% of total exports.

Ecuador experienced a relatively flat trend pattern of bananas exports. At the same time, Mexico (+X%), the Netherlands (+X%), Guatemala (+X%), Cote d'Ivoire (+X%), Cameroon (+X%), the U.S. (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Honduras, Colombia, Costa Rica and the Philippines experienced a relatively flat trend pattern. From 2007 to 2018, the share of Guatemala, the Netherlands, Mexico and Ecuador increased by +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest banana supplier from Guam, comprising X% of global exports. The second position in the ranking was occupied by Costa Rica ($X), with a X% share of global exports. It was followed by Guatemala, with a X% share.

In Ecuador, banana exports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Costa Rica (+X% per year) and Guatemala (+X% per year).

Export Prices by Country

In 2018, the banana export price in Guam amounted to $X per ton, standing approx. at the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2016 when the export price increased by X% year-to-year. Guam export price peaked at $X per ton in 2017, leveling off in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Cameroon, while the other leaders experienced more modest paces of growth.

Banana Imports

Imports into Guam

In 2018, the amount of bananas imported into Guam stood at X tons, picking up by X% against the previous year. Overall, banana imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. Guam imports peaked at X tons in 2016; however, from 2017 to 2018, imports stood at a somewhat lower figure.

In value terms, banana imports amounted to $X in 2018. Over the period under review, banana imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, banana imports reached their maximum at $X in 2016; however, from 2017 to 2018, imports stood at a somewhat lower figure.

Imports by Country

The U.S. was the major importing country with an import of around X tons, which accounted for X% of total imports. Russia (X tons) occupied the second position in the ranking, followed by Germany (X tons), Belgium (X tons), China (X tons) and the UK (X tons). All these countries together occupied approx. X% share of total imports. Japan (X tons), Italy (X tons), France (X tons), the Netherlands (X tons), Canada (X tons) and Iran (X tons) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to banana imports into the U.S. stood at +X%. At the same time, China (+X%), the Netherlands (+X%), Iran (+X%), Russia (+X%), France (+X%), Canada (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. The UK, Belgium, Japan and Germany experienced a relatively flat trend pattern. The U.S. (+X p.p.), China (+X p.p.), Russia (+X p.p.) and the Netherlands (+X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported bananas into Guam, comprising X% of global imports. The second position in the ranking was occupied by Belgium ($X), with a X% share of global imports. It was followed by Russia, with a X% share.

In the U.S., banana imports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Belgium (-X% per year) and Russia (+X% per year).

Import Prices by Country

In 2018, the banana import price in Guam amounted to $X per ton, declining by -X% against the previous year. Overall, the banana import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 when the import price increased by X% against the previous year. In that year, the import prices for bananas reached their peak level of $X per ton. From 2010 to 2018, the growth in terms of the import prices for bananas remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Belgium ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform