Banana Market Overview in Greece
In value terms, banana production expanded sharply to $ in 2019 estimated in export prices. In general, production saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2008 with an increase of % y-o-y. Banana production peaked at $ in 2010; however, from 2011 to 2019, production stood at a somewhat lower figure.
The average yield of bananas in Greece amounted to tonnes per ha in 2019, rising by % compared with 2018. Overall, the yield indicated a noticeable increase 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 yield decreased by -% against 2015 indices. The most prominent rate of growth was recorded in 2014 when the yield increased by % against the previous year. The banana yield peaked at tonnes per ha in 2015; however, from 2016 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.
In 2019, the banana harvested area in Greece shrank to ha, dropping by -% compared with the previous year's figure. Overall, the harvested area saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of % y-o-y. Over the period under review, the harvested area dedicated to banana production reached the peak figure at ha in 2007; however, from 2008 to 2019, the harvested area failed to regain the momentum.
The revenue of the banana market in Greece skyrocketed to $ in 2019, with an increase of % 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 showed a strong expansion. The pace of growth appeared the most rapid in 2011 with an increase of % y-o-y. Banana consumption peaked in 2019 and is expected to retain growth in years to come.