Banana and Plantain Market Overview in India

The Indian banana and plantain market reduced to $ in 2019, which is down 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, the total consumption indicated notable growth from 2007 to 2019: its value 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, consumption decreased by -% against 2014 indices. The most prominent rate of growth was recorded in 2014 with an increase of % against the previous year. As a result, consumption attained the peak level of $. From 2015 to 2019, the growth of the market remained at a somewhat lower figure.

In value terms, banana and plantain production contracted to $ in 2019 estimated in export prices. In general, production, however, continues to indicate notable growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by % against the previous year. As a result, production reached the peak level of $. From 2015 to 2019, production growth failed to regain the momentum.

In 2019, the average banana and plantain yield in India totaled tonnes per ha, remaining relatively unchanged against the previous year's figure. In general, the yield recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of % year-to-year. As a result, the yield reached the peak level of tonnes per ha. From 2015 to 2019, 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 2019, the total area harvested in terms of bananas and plantains production in India shrank modestly to ha, declining by -% against the year before. The harvested area increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of % y-o-y. As a result, the harvested area reached the peak level of ha, and then dropped slightly in the following year.

After two years of growth, consumption of bananas and plantains decreased by -% to tonnes in 2019. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the consumption volume increased by % y-o-y. Banana and plantain consumption peaked at tonnes in 2018, and then contracted in the following year.

The value of the banana and plantain market in India shrank to $ in 2019, which is down 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, the total consumption indicated perceptible growth from 2007 to 2019: its value 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, consumption decreased by -% against 2014 indices. The most prominent rate of growth was recorded in 2014 when the market value increased by % y-o-y. As a result, consumption attained the peak level of $. From 2015 to 2019, 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 2019 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.