Banana and Plantain Market Overview in Colombia
In value terms, banana and plantain production rose remarkably to $ in 2019 estimated in export prices. In general, production posted a moderate expansion. The most prominent rate of growth was recorded in 2012 with an increase of % y-o-y. Banana and plantain production peaked at $ in 2015; however, from 2016 to 2019, production remained at a lower figure.
In 2019, the average banana and plantain yield in Colombia expanded markedly to tonnes per ha, increasing by % against the previous year's figure. The yield figure increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2012 when the yield increased by % year-to-year. Over the period under review, the average banana and plantain yield reached the peak level in 2019 and is likely to continue growth in years to come. 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 in Colombia totaled ha in 2019, picking up by % compared with the year before. Over the period under review, the harvested area, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the harvested area increased by % year-to-year. The banana and plantain harvested area peaked at ha in 2016; however, from 2017 to 2019, the harvested area remained at a lower figure.
The size of the banana and plantain market in Colombia skyrocketed to $ in 2019, growing by % 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). Overall, consumption, however, continues to indicate a slight expansion. The pace of growth appeared the most rapid in 2018 when the market value increased by % year-to-year. Banana and plantain consumption peaked at $ in 2015; however, from 2016 to 2019, consumption stood at a somewhat lower figure.