Banana Market Overview in Cuba
In value terms, banana production dropped remarkably to $ in 2019 estimated in export prices. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of % against the previous year. As a result, production attained the peak level of $, and then contracted remarkably in the following year.
The average yield of bananas in Cuba was estimated at tonnes per ha in 2019, with an increase of % on 2018. In general, the yield indicated a slight increase from 2007 to 2019: its figure increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 yield reached the maximum level at tonnes per ha in 2014; however, from 2015 to 2019, the yield failed to regain the momentum. 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 Cuba shrank to ha in 2019, waning by -% on the previous year's figure. Overall, the harvested area showed a slight shrinkage. The most prominent rate of growth was recorded in 2009 with an increase of % y-o-y. As a result, the harvested area attained the peak level of ha. From 2010 to 2019, the growth of the banana harvested area failed to regain the momentum.
The revenue of the banana market in Cuba reduced notably to $ in 2019, dropping 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of % year-to-year. As a result, consumption reached the peak level of $, and then fell sharply in the following year.