Banana Market Overview in Greece
In value terms, banana production stood at $4.3M in 2010 estimated in export prices. The total output value increased at an average annual rate of +7.8% from 2007 to 2010; the trend pattern remained relatively stable, with only minor fluctuations over the period under review. The pace of growth appeared the most rapid in 2008 with an increase of 22% y-o-y. Over the period under review, banana production reached its maximum level in 2010 and is likely to continue its growth in the near future.
In 2010, the average banana yield in Greece totaled 25 tonne per ha, increasing by 18% against the previous year. The yield figure increased at an average annual rate of +6.8% over the period from 2007 to 2010; the trend pattern remained relatively stable, with only minor fluctuations over the period under review. The most prominent rate of growth was recorded in 2010 when yield increased by 18% against the previous year. In that year, the average banana yield attained its peak level and is likely to continue its growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2010, the banana harvested area in Greece totaled 166 ha, standing approx. at the previous year. Over the period under review, the banana harvested area continues to indicate a mild deduction. Banana harvested area peaked at 174 ha in 2007; however, from 2008 to 2010, harvested area stood at a somewhat lower figure.
The revenue of the banana market in Greece amounted to $25M in 2010, shrinking by -75.4% 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). In general, banana consumption continues to indicate a precipitous downturn. The most prominent rate of growth was recorded in 2008 with an increase of 75% year-to-year. In that year, the banana market attained its peak level of $104M. From 2009 to 2010, the growth of the banana market remained at a lower figure.