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Latin America and the Caribbean - Bananas - Market Analysis, Forecast, Size, Trends and Insights
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Latin America and the Caribbean: Banana And Plantain Market Overview 2021

Banana And Plantain Market Size in Latin America and the Caribbean

The Latin American banana and plantain market rose remarkably to $X in 2020, with an increase of X% against the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. Over the period under review, the market attained the peak level at $X in 2016; afterwards, it flattened through to 2020.

Banana And Plantain Production in Latin America and the Caribbean

In value terms, banana and plantain production rose notably to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level in 2020 and is likely to see gradual growth in the near future.

The countries with the highest volumes of banana and plantain production in 2020 were Brazil (X tonnes), Colombia (X tonnes) and Guatemala (X tonnes), with a combined X% share of total production. Ecuador, Costa Rica, the Dominican Republic, Peru and Mexico lagged somewhat behind, together comprising a further X 2007 to 2020, the most notable rate of growth in terms of banana and plantain production, amongst the leading producing countries, was attained by the Dominican Republic, while banana and plantain production for the other leaders experienced more modest paces of growth.

The average banana and plantain yield fell to X tonnes per ha in 2020, with a decrease of -X% against 2019. The yield figure increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of yield peaked at X tonnes per ha in 2018; however, from 2019 to 2020, the yield stood at a somewhat lower figure. 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 stood at X ha in 2020, remaining stable against 2019. In general, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the harvested area increased by X% year-to-year. Over the period under review, the harvested area dedicated to banana and plantain production attained the maximum at X ha in 2015; however, from 2016 to 2020, the harvested area remained at a lower figure.

Production By Country in Latin America and the Caribbean

The countries with the highest volumes of banana and plantain production in 2020 were Brazil (X tonnes), Colombia (X tonnes) and Guatemala (X tonnes), with a combined X% share of total production. These countries were followed by Ecuador, Costa Rica, the Dominican Republic, Peru and Mexico, which together accounted for a further X 2007 to 2020, the biggest increases were in the Dominican Republic, while banana and plantain production for the other leaders experienced more modest paces of growth.

Banana And Plantain Exports

Exports in Latin America and the Caribbean

In 2020, after two years of growth, there was significant decline in shipments abroad of bananas and plantains, when their volume decreased by -X% to X tonnes. The total export volume increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% year-to-year. The volume of export peaked at X tonnes in 2019, and then contracted in the following year.

In value terms, banana and plantain exports fell to $X in 2020. The total export value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, exports hit record highs at $X in 2019, and then contracted in the following year.

Exports by Country

In 2020, Ecuador (X tonnes), distantly followed by Guatemala (X tonnes), Costa Rica (X tonnes) and Colombia (X tonnes) represented the main exporters of bananas and plantains, together committing X% of total exports. Honduras (X tonnes), Mexico (X tonnes) and Panama (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Mexico, while exports for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Costa Rica ($X) and Colombia ($X) constituted the countries with the highest levels of exports in 2020, together comprising X% of total exports. Guatemala, Panama, Honduras and Mexico lagged somewhat behind, together accounting for a further X terms of the main exporting countries, Mexico saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the banana and plantain export price in Latin America and the Caribbean amounted to $X per tonne, dropping by -X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the export price increased by X% y-o-y. As a result, export price reached the peak level of $X per tonne. from 2009 to 2020, the growth in terms of the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Panama ($X per tonne), while Guatemala ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Colombia, 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 decline, supplies from abroad of bananas and plantains increased by X% to X tonnes in 2020. Total imports indicated a pronounced expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by X% year-to-year. The volume of import peaked in 2020 and is expected to retain growth in years to come.

In value terms, banana and plantain imports soared to $X in 2020. Total imports indicated a resilient increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by X% y-o-y. The level of import peaked in 2020 and is likely to see steady growth in the near future.

Imports by Country

Argentina represented the largest importing country with an import of around X tonnes, which recorded X% of total imports. Chile (X tonnes) ranks second in terms of the total imports with a X% share, followed by El Salvador (X%) and Uruguay (X%). The following importers - Haiti (X tonnes), Honduras (X tonnes) and Colombia (X tonnes) - each accounted for a X% share of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by El Salvador, while imports for the other leaders experienced more modest paces of growth.

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

From 2007 to 2020, the average annual rate of growth in terms of value in Argentina stood at +X%. In the other countries, the average annual rates were as follows: Chile (+X% per year) and Uruguay (+X% per year).

Import Prices by Country

The banana and plantain import price in Latin America and the Caribbean stood at $X per tonne in 2020, rising by X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008 when the import price increased by X% y-o-y. The level of import peaked in 2020 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Argentina ($X per tonne), while Colombia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Uruguay, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bananas and plantains in LatAmerica and the Caribbean?
+
Brazil (6.7M tonnes) constituted the country with the largest volume of banana and plantain consumption, accounting for 28% of total volume. Moreover, banana and plantain consumption in Brazil exceeded the figures recorded by the second-largest consumer, Colombia (3M tonnes), twofold. Guatemala (2.2M tonnes) ranked third in terms of total consumption with a 9.2% share.
What are the largest producers of bananas and plantains in LatAmerica and the Caribbean?
+
The countries with the highest volumes of banana and plantain production in 2020 were Brazil (6.8M tonnes), Colombia (5.1M tonnes) and Guatemala (5M tonnes), together comprising 45% of total production. Ecuador, Costa Rica, the Dominican Republic, Peru and Mexico lagged somewhat behind, together comprising a further 38%.
What are the leading exporters of bananas and plantains in LatAmerica and the Caribbean?
+
In value terms, Ecuador ($2.9B), Costa Rica ($1.8B) and Colombia ($1.5B) constituted the countries with the highest levels of exports in 2020, with a combined 70% share of total exports. Guatemala, Panama, Honduras and Mexico lagged somewhat behind, together comprising a further 22%.
What are the leading importers of bananas and plantains in LatAmerica and the Caribbean?
+
In value terms, Argentina ($243M) constitutes the largest market for imported bananas and plantains in Latin America and the Caribbean, comprising 58% of total imports. The second position in the ranking was occupied by Chile ($96M), with a 23% share of total imports. It was followed by Uruguay, with a 5.7% share.
What is the average export price for bananas and plantains in LatAmerica and the Caribbean?
+
In 2020, the banana and plantain export price in Latin America and the Caribbean amounted to $602 per tonne, with a decrease of -2.6% against the previous year.
What is the average import price for bananas and plantains in LatAmerica and the Caribbean?
+
In 2020, the banana and plantain import price in Latin America and the Caribbean amounted to $378 per tonne, growing by 19% against the previous year.

Product coverage:
• FCL 486 - Bananas
• FCL 489 -

This report provides an in-depth analysis of the banana and plantain market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.



Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, By Country, 2015–2020
Table 5:
Production, In Physical Terms, By Country, 2007–2020
Table 6:
Harvested Area, By Country, 2007–2020
Table 7:
Yield, By Country, 2007–2020
Table 8:
Imports, In Physical Terms, By Country, 2007–2020
Table 9:
Imports, In Value Terms, By Country, 2007–2020
Table 10:
Import Prices, By Country Of Destination, 2007–2020
Table 11:
Exports, In Physical Terms, By Country, 2007–2020
Table 12:
Exports, In Value Terms, By Country, 2007–2020
Table 13:
Export Prices, By Country Of Origin, 2007–2020
Table 14:
Producer Prices, By Major Producing Country, 2020
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, By Country, 2020
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2007–2020
Figure 18:
Production, In Value Terms, 2007–2020
Figure 19:
Area Harvested, 2007–2020
Figure 20:
Yield, 2007–2020
Figure 21:
Production, By Country, 2020
Figure 22:
Production, In Physical Terms, By Country, 2007–2020
Figure 23:
Harvested Area, By Country, 2020
Figure 24:
Harvested Area, By Country, 2007–2020
Figure 25:
Yield, By Country, 2007–2020
Figure 26:
Imports, In Physical Terms, 2007–2020
Figure 27:
Imports, In Value Terms, 2007–2020
Figure 28:
Imports, In Physical Terms, By Country, 2020
Figure 29:
Imports, In Physical Terms, By Country, 2007–2020
Figure 30:
Imports, In Value Terms, By Country, 2007–2020
Figure 31:
Import Prices, By Country, 2007–2020
Figure 32:
Exports, In Physical Terms, 2007–2020
Figure 33:
Exports, In Value Terms, 2007–2020
Figure 34:
Exports, In Physical Terms, By Country, 2020
Figure 35:
Exports, In Physical Terms, By Country, 2007–2020
Figure 36:
Exports, In Value Terms, By Country, 2007–2020
Figure 37:
Export Prices, 2007–2020
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