Report Update Apr 1, 2024

Nigeria - Bananas and Plantains - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Banana And Plantain Market 2024

Banana And Plantain Market Size in Nigeria

The Nigerien banana and plantain market contracted to $X in 2022, stabilizing at the previous year. In general, consumption, however, showed a pronounced contraction. Banana and plantain consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Banana And Plantain Production in Nigeria

In value terms, banana and plantain production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Banana and plantain production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

In 2022, the average yield of bananas and plantains in Nigeria declined to X tons per ha, stabilizing at the previous year's figure. In general, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the average banana and plantain yield attained the maximum level at X tons per ha in 2017; however, from 2018 to 2022, 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.

In 2022, the total area harvested in terms of bananas and plantains production in Nigeria stood at X ha, flattening at the previous year. Overall, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha. From 2016 to 2022, the growth of the banana and plantain harvested area remained at a lower figure.

Banana And Plantain Exports

Exports from Nigeria

In 2022, the amount of bananas and plantains exported from Nigeria dropped dramatically to X tons, shrinking by X% against the year before. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, banana and plantain exports fell rapidly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for banana and plantain exports from Nigeria, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled X%.

In value terms, the UK ($X) also remains the key foreign market for bananas and plantains exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to the UK stood at X%.

Export Prices by Country

The average banana and plantain export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price, however, saw a significant expansion. The growth pace was the most rapid in 2020 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to X% per year.

Banana And Plantain Imports

Imports into Nigeria

In 2022, overseas purchases of bananas and plantains increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a drastic downturn. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, banana and plantain imports surged to $X in 2022. In general, imports enjoyed a noticeable expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of banana and plantain to Nigeria, accounting for a X% share of total imports. Moreover, banana and plantain imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%.

In value terms, China ($X) constituted the largest supplier of bananas and plantains to Nigeria, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

In 2022, the average banana and plantain import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price enjoyed a prominent increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for India stood at $X per ton.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for bananas and plantains in the world?

India remains the largest banana and plantain consuming country worldwide, accounting for 19% of total volume. Moreover, banana and plantain consumption in India exceeded the figures recorded by the second-largest consumer, China, twofold. Uganda ranked third in terms of total consumption with a 5.6% share.

What are the largest producers of bananas and plantains in the world?

The country with the largest volume of banana and plantain production was India, accounting for 19% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China, threefold. Uganda ranked third in terms of total production with a 5.7% share.

What are the leading suppliers of bananas and plantains to Nigeria?

In value terms, China constituted the largest supplier of bananas and plantains to Nigeria, comprising 94% of total imports. The second position in the ranking was held by India, with a 6.3% share of total imports.

What are the leading importers of bananas and plantains from Nigeria?

In value terms, the UK remains the key foreign market for bananas and plantains exports from Nigeria.

What is the average export price for bananas and plantains in Nigeria?

The average banana and plantain export price stood at $1,043 per ton in 2022, reducing by -19.8% against the previous year.

What is the average import price for bananas and plantains in Nigeria?

In 2022, the average banana and plantain import price amounted to $1,524 per ton, with an increase of 82% against the previous year.

This report provides an in-depth analysis of the banana and plantain market in Nigeria. 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 2030.

Product coverage:

FCL 486 - Bananas
FCL 489 - Plantains

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023