Banana Market Overview in Antigua and Barbuda
In value terms, banana production reached $ in 2019 estimated in export prices. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of % y-o-y. As a result, production reached the peak level of $. From 2011 to 2019, production growth remained at a somewhat lower figure.
In 2019, the average yield of bananas in Antigua and Barbuda declined to tonnes per ha, with a decrease of -% against 2018 figures. In general, the yield showed a perceptible descent. The growth pace was the most rapid in 2013 when the yield increased by % against the previous year. The banana yield peaked at tonnes per ha in 2007; however, from 2008 to 2019, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2019, the total area harvested in terms of bananas production in Antigua and Barbuda rose notably to ha, growing by % against 2018 figures. Over the period under review, the total harvested area indicated a buoyant 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. Based on 2019 figures, banana harvested area increased by +% against 2012 indices. The most prominent rate of growth was recorded in 2012 when the harvested area increased by % y-o-y. Over the period under review, the harvested area dedicated to banana production reached the maximum in 2019 and is likely to continue growth in the immediate term.
The value of the banana market in Antigua and Barbuda expanded significantly to $ in 2019, rising 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 posted perceptible growth. The pace of growth was the most pronounced in 2008 with an increase of % year-to-year. Banana consumption peaked in 2019 and is expected to retain growth in the near future.