Banana Market Overview in Mexico
In value terms, banana production totaled $865M in 2010 estimated in export prices. Overall, banana production, however, continues to indicate a moderate drop. The most prominent rate of growth was recorded in 2008 with an increase of 12% y-o-y. Over the period under review, banana production reached its peak figure level at $1.1B in 2009, and then declined slightly in the following year.
In 2010, the average yield of bananas in Mexico stood at 27 tonne per ha, waning by -7.1% against the previous year. The yield figure increased at an average annual rate of +1.7% over the period from 2007 to 2010; the trend pattern remained relatively stable, with somewhat noticeable fluctuations over the period under review. The growth pace was the most rapid in 2008 when yield increased by 6.6% y-o-y. Over the period under review, the average banana yield attained its peak figure level at 29 tonne per ha in 2009, and then declined slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
Banana harvested area in Mexico totaled 77K ha in 2010, stabilizing at the previous year. Over the period under review, the banana harvested area continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 with an increase of 2.7% year-to-year. In that year, the banana harvested area attained its peak level of 78K ha. From 2009 to 2010, the growth of the banana harvested area failed to regain its momentum.
The revenue of the banana market in Mexico amounted to $829M in 2010, waning by -17.2% 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). Overall, banana consumption, however, continues to indicate a significant setback. The growth pace was the most rapid in 2008 with an increase of 9.4% against the previous year. In that year, the banana market reached its peak level of $1B. From 2009 to 2010, the growth of the banana market failed to regain its momentum.