Nigeria: Banana And Plantain Market Overview 2021

Banana And Plantain Market Size in Nigeria

For the fourth consecutive year, the Nigerien banana and plantain market recorded growth in sales value, which increased by X% to $X in 2019. In general, the total consumption indicated a notable increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2013 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Banana and plantain consumption peaked in 2019 and is likely to continue growth in the near future.

Banana And Plantain Production in Nigeria

In value terms, banana and plantain production surged to $X in 2019 estimated in export prices. In general, production enjoyed buoyant growth. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Banana and plantain production peaked in 2019 and is likely to continue growth in the near future.

The average yield of bananas and plantains in Nigeria reached X tonnes per ha in 2019, almost unchanged from the year before. In general, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. Over the period under review, the average banana and plantain yield reached the maximum level at X tonnes per ha in 2007; afterwards, it flattened through to 2019. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2019, the total area harvested in terms of bananas and plantains production in Nigeria reached X ha, remaining stable against 2018. Overall, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2012 with an increase of X% y-o-y. Over the period under review, the harvested area dedicated to banana and plantain production attained the maximum in 2019 and is expected to retain growth in years to come.

Banana And Plantain Exports

Exports from Nigeria

In 2019, shipments abroad of bananas and plantains increased by X% to X tonnes, rising for the third year in a row after three years of decline. Over the period under review, exports recorded notable growth. The pace of growth was the most pronounced in 2011 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at X tonnes in 2013; however, from 2014 to 2019, exports failed to regain the momentum.

In value terms, banana and plantain exports soared to $X in 2019. In general, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2013; however, from 2014 to 2019, exports failed to regain the momentum.

Exports by Country

Niger (X tonnes) was the main destination for banana and plantain exports from Nigeria, with a approx. X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to Niger stood at +X%.

In value terms, Niger ($X) also remains the key foreign market for banana and plantain exports from Nigeria.

From 2007 to 2019, the average annual growth rate of value to Niger stood at +X%.

Export Prices by Country

The average banana and plantain export price stood at $X per tonne in 2019, picking up by X% against the previous year. Over the period under review, the export price saw a slight expansion. The most prominent rate of growth was recorded in 2010 when the average export price increased by X% against the previous year. As a result, export price reached the peak level of $X per tonne. From 2011 to 2019, the growth in terms of the average export prices remained at a lower figure.

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

From 2007 to 2019, the rate of growth in terms of prices for Niger amounted to +X% per year.

Banana And Plantain Imports

Imports into Nigeria

In 2019, the amount of bananas and plantains imported into Nigeria declined markedly to X tonnes, dropping by -X% on the previous year. Overall, imports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2012 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, banana and plantain imports reduced sharply to $X in 2019. In general, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of X% y-o-y. Over the period under review, imports reached the maximum at $X in 2007; however, from 2008 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Cameroon (X tonnes) constituted the largest banana and plantain supplier to Nigeria, with a X% share of total imports. Moreover, banana and plantain imports from Cameroon exceeded the figures recorded by the second-largest supplier, the U.S. (X tonnes), ninefold.

From 2007 to 2019, the average annual rate of growth in terms of volume from Cameroon stood at -X%.

In value terms, Cameroon ($X) constituted the largest supplier of banana and plantain to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports.

From 2007 to 2019, the average annual rate of growth in terms of value from Cameroon totaled -X%.

Import Prices by Country

In 2019, the average banana and plantain import price amounted to $X per tonne, growing by X% against the previous year. Over the period under review, the import price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2011 when the average import price increased by X% y-o-y. As a result, import price reached the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. In 2019, the country with the highest price was the U.S. ($X per tonne), while the price for Cameroon stood at $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Cameroon.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

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

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India (30M tonnes) constituted the country with the largest volume of banana and plantain consumption, comprising approx. 19% of total volume. Moreover, banana and plantain consumption in India exceeded the figures recorded by the second-largest consumer, China (13M tonnes), twofold. Indonesia (7.3M tonnes) ranked third in terms of total consumption with a 4.7% share.

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

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The country with the largest volume of banana and plantain production was India (30M tonnes), accounting for 19% of total volume. Moreover, banana and plantain production in India exceeded the figures recorded by the second-largest producer, China (12M tonnes), threefold. The third position in this ranking was occupied by the Philippines (9.2M tonnes), with a 5.8% share.

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

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In value terms, Cameroon ($125K) constituted the largest supplier of banana and plantain to Nigeria, comprising 87% of total imports. The second position in the ranking was occupied by the U.S. ($15K), with a 11% share of total imports.

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

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In value terms, Niger ($20K) remains the key foreign market for banana and plantain exports from Nigeria.

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

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The average banana and plantain export price stood at $1,231 per tonne in 2019, rising by 30% against the previous year.

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

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The average banana and plantain import price stood at $727 per tonne in 2019, growing by 10% against the previous year.