Banana and Plantain Market Overview in India

In , the Indian banana and plantain market was finally on the rise to reach $ after two years of decline. The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the market value increased by % y-o-y. As a result, consumption attained the peak level of $. From 2015 to , the growth of the market remained at a lower figure.

In value terms, banana and plantain production reached $ in estimated in export prices. Over the period under review, the total production indicated a pronounced expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by % against the previous year. As a result, production attained the peak level of $. From 2015 to , production growth failed to regain the momentum.

The average yield of bananas and plantains in India reduced to tonnes per ha in , remaining relatively unchanged against 2019. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of % year-to-year. As a result, the yield attained the peak level of tonnes per ha. From 2015 to , the growth of the average banana and plantain 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 , the harvested area of bananas and plantains in India rose to ha, surging by % compared with 2019 figures. The harvested area increased at an average annual rate of +% from 2007 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2009 with an increase of % against the previous year. Over the period under review, the harvested area dedicated to banana and plantain production reached the maximum in and is likely to continue growth in the near future.

In , consumption of bananas and plantains in India stood at tonnes, surging by % on the previous year's figure. The total consumption volume increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2010 with an increase of % year-to-year. Over the period under review, consumption attained the maximum volume in and is expected to retain growth in years to come.

The revenue of the banana and plantain market in India expanded sharply to $ in , increasing 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). The market value increased at an average annual rate of +% from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of % y-o-y. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a lower figure.

Driven by increasing demand for banana and plantain in India, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tonnes by the end of .

Over the period under review, imports of banana and plantain in India were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for banana and plantain.

This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.