Global Banana Market Overview

The global banana market revenue amounted to $65.4B in 2010, increasing by 1.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +6.6% over the period from 2007 to 2010; the trend pattern remained consistent, with somewhat noticeable fluctuations over the period under review. The most prominent rate of growth was recorded in 2009 with an increase of 9.3% y-o-y. The global banana consumption peaked in 2010 and is expected to retain its growth in the near future.

In value terms, banana production amounted to $63.1B in 2010 estimated in export prices. The total output value increased at an average annual rate of +8.1% over the period from 2007 to 2010; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 when production volume increased by 13% y-o-y. Over the period under review, global banana production reached its maximum level in 2010 and is likely to continue its growth in the immediate term.

India (30M tonnes) remains the largest banana producing country worldwide, comprising approx. 27% of total production. Moreover, banana production in India exceeded the figures recorded by the world's second-largest producer, China (9.6M tonnes), threefold. The third position in this ranking was occupied by the Philippines (9.1M tonnes), with a 8.2% share.

From 2007 to 2010, the average annual rate of growth in terms of volume in India totaled +7.7%. In the other countries, the average annual rates were as follows: China (+7.0% per year) and the Philippines (+6.7% per year).

In 2010, the global average yield of bananas amounted to 20 tonne per ha, surging by 3.5% against the previous year. The yield figure increased at an average annual rate of +2.5% over the period from 2007 to 2010; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed over the period under review. The most prominent rate of growth was recorded in 2010 when yield increased by 3.5% year-to-year. In that year, the average banana yield attained its peak level and is likely to continue its growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

Global banana harvested area stood at 5.4M ha in 2010, increasing by 1.6% against the previous year. The harvested area increased at an average annual rate of +2.2% from 2007 to 2010; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2009 with an increase of 2.8% year-to-year. Over the period under review, the harvested area dedicated to banana production reached its maximum in 2010 and is expected to retain its growth in the immediate term.