Banana Market Overview in India
In value terms, banana production amounted to $13.4B in 2010 estimated in export prices. The total output value increased at an average annual rate of +9.8% over the period from 2007 to 2010; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2009 when production volume increased by 11% y-o-y. Over the period under review, banana production attained its peak figure level in 2010 and is expected to retain its growth in the immediate term.
Average yield of bananas in India totaled 36 tonne per ha in 2010, growing by 4.4% against the previous year. Over the period under review, the banana yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of 4.4% year-to-year. Over the period under review, the average banana yield reached its peak figure level at 37 tonne per ha in 2008; however, from 2009 to 2010, yield failed to regain its momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2010, the harvested area of bananas in India stood at 830K ha, growing by 7.8% against the previous year. The harvested area increased at an average annual rate of +8.0% from 2007 to 2010; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2009 when harvested area increased by 8.6% y-o-y. Banana harvested area peaked in 2010 and is likely to continue its growth in the near future.
The revenue of the banana market in India amounted to $13.6B in 2010, surging by 8.9% 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 +9.2% 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 2008 with an increase of 11% year-to-year. Over the period under review, the banana market attained its peak figure level in 2010 and is likely to see steady growth in the immediate term.