Banana and Plantain Market Overview in India

The Indian banana and plantain market declined modestly to $ in 2019, dropping 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 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the market value increased by % year-to-year. As a result, consumption reached the peak level of $. From 2015 to 2019, the growth of the market failed to regain the momentum.

In value terms, banana and plantain production dropped to $ in 2019 estimated in export prices. In general, the total production indicated a tangible expansion 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, production decreased by -% against 2014 indices. The most prominent rate of growth was recorded in 2014 with an increase of % year-to-year. As a result, production attained the peak level of $. From 2015 to 2019, production growth remained at a somewhat lower figure.

The average yield of bananas and plantains in India contracted slightly to tonnes per ha in 2019, almost unchanged from the year before. Over the period under review, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of % y-o-y. 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 failed to regain the momentum. 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 and plantain harvested area in India expanded to ha, picking up by % on the previous year's figure. The harvested area increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2009 when the harvested area increased by % y-o-y. The banana and plantain harvested area peaked in 2019 and is expected to retain growth in years to come.

In 2019, consumption of bananas and plantains increased by % to tonnes, rising for the third consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2010 with an increase of % y-o-y. Over the period under review, consumption reached the peak volume in 2019 and is expected to retain growth in years to come.

The size of the banana and plantain market in India shrank to $ in 2019, falling 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 +% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 failed to regain the momentum.

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 decelerate, 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.