Latin America and the Caribbean: Banana And Plantain Market 2024

Banana And Plantain Market Size in Latin America and the Caribbean

The Latin American banana and plantain market expanded markedly to $X in 2022, rising by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Banana And Plantain Production in Latin America and the Caribbean

In value terms, banana and plantain production amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Ecuador (X tons), Brazil (X tons) and Colombia (X tons), with a combined X% share of total production. Guatemala, Costa Rica, Mexico, the Dominican Republic and Peru lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Guatemala (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average banana and plantain yield in Latin America and the Caribbean rose modestly to X tons per ha, picking up by X% on the year before. Overall, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the yield increased by X%. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of bananas and plantains production in Latin America and the Caribbean dropped to X ha, remaining stable against the year before. In general, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to banana and plantain production attained the peak figure at X ha in 2015; however, from 2016 to 2022, the harvested area stood at a somewhat lower figure.

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Banana And Plantain Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of bananas and plantains decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total export volume 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 in certain years. The growth pace was the most rapid in 2013 with an increase of X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, banana and plantain exports fell to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Ecuador (X tons) was the key exporter of bananas and plantains, making up X% of total exports. Guatemala (X tons) ranks second in terms of the total exports with a X% share, followed by Colombia (X%) and Costa Rica (X%). The following exporters - Honduras (X tons), Mexico (X tons) and Panama (X tons) - together made up X% of total exports.

Exports from Ecuador increased at an average annual rate of X% from 2012 to 2022. At the same time, Panama (X%), Mexico (X%), Guatemala (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Honduras and Costa Rica experienced a relatively flat trend pattern. Ecuador (X p.p.), Panama (X p.p.) and Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Costa Rica saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest banana and plantain supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

In Ecuador, banana and plantain exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Guatemala (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price showed a slight decline. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Honduras ($X per ton) and Mexico ($X per ton), while Guatemala ($X per ton) and Panama ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Banana And Plantain Imports

Imports in Latin America and the Caribbean

After two years of growth, overseas purchases of bananas and plantains decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then fell modestly in the following year.

In value terms, banana and plantain imports surged to $X in 2022. Total imports indicated a resilient 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, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Argentina represented the largest importer of bananas and plantains in Latin America and the Caribbean, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Chile (X tons), El Salvador (X tons), Honduras (X tons) and Uruguay (X tons), together creating a X% share of total imports. The following importers - Haiti (X tons) and Guatemala (X tons) - each resulted at a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) constitutes the largest market for imported bananas and plantains in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Chile ($X), with a X% share of total imports. It was followed by Uruguay, with a X% share.

In Argentina, banana and plantain imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Chile (X% per year) and Uruguay (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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