Portugal: Banana Market 2024

Banana Market Size in Portugal

The Portuguese banana market amounted to $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Banana Production in Portugal

In value terms, banana production expanded to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The average yield of bananas in Portugal expanded slightly to X tons per ha in 2022, picking up by X% on 2021 figures. Over the period under review, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the average banana 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 banana harvested area in Portugal was estimated at X ha, approximately equating 2021 figures. Overall, the harvested area recorded modest growth. The pace of growth was the most pronounced in 2014 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha; afterwards, it flattened through to 2022.

Banana Exports

Exports from Portugal

In 2022, banana exports from Portugal skyrocketed to X tons, growing by X% on the previous year's figure. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, banana exports skyrocketed to $X in 2022. Over the period under review, exports saw resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Spain (X tons) was the main destination for banana exports from Portugal, accounting for a X% share of total exports. It was followed by Italy (X tons), with a X% share of total exports.

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

In value terms, Spain ($X) remains the key foreign market for bananas exports from Portugal, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports.

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

Export Prices by Country

The average banana export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Spain totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%).

Banana Imports

Imports into Portugal

Banana imports into Portugal reached X tons in 2022, stabilizing at 2021 figures. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its volume 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, banana imports expanded significantly to $X in 2022. Overall, total imports indicated a measured 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Spain (X tons), Costa Rica (X tons) and Colombia (X tons) were the main suppliers of banana imports to Portugal, together comprising X% of total imports. Angola, Ecuador and the Dominican Republic lagged somewhat behind, together comprising a further X%.

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

In value terms, Spain ($X), Costa Rica ($X) and Colombia ($X) were the largest banana suppliers to Portugal, together accounting for X% of total imports. Angola, Ecuador and the Dominican Republic lagged somewhat behind, together accounting for a further X%.

Angola, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average banana import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Spain ($X per ton) and Ecuador ($X per ton), while the price for Angola ($X per ton) and Costa Rica ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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