Banana Market Overview in Colombia
In value terms, banana production rose significantly to $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2009 when the production volume increased by % year-to-year. Colombia production peaked in 2019 and is likely to continue growth in the near future.
The average yield of bananas in Colombia totaled tonnes per ha in 2019, remaining stable against the previous year. Over the period under review, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by % y-o-y. The global yield peaked at tonnes per ha in 2013; however, from 2014 to 2019, 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.
The banana harvested area in Colombia expanded rapidly to ha in 2019, with an increase of % on the previous year. Overall, the total harvested area indicated prominent growth from 2007 to 2019: its figure increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, banana harvested area increased by +% against 2014 indices. The pace of growth was the most pronounced in 2012 with an increase of % y-o-y. The global harvested area peaked in 2019 and is likely to see steady growth in years to come.
The value of the banana market in Colombia expanded modestly 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 continues to indicate buoyant growth. The growth pace was the most rapid in 2012 with an increase of % against the previous year. Colombia consumption peaked at $ in 2013; however, from 2014 to 2019, consumption stood at a somewhat lower figure.