Banana Market Overview in Mexico
In value terms, banana production totaled $ in 2018 estimated in export prices. The total output value increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2012 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2016; however, from 2017 to 2018, production stood at a somewhat lower figure.
The average yield of bananas in Mexico expanded to tonnes per ha in 2018, growing by % compared with the previous year. The yield figure increased at an average annual rate of +% from 2007 to 2018; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. Over the period under review, the average banana yield attained the maximum level at tonnes per ha in 2016; however, from 2017 to 2018, the 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 2018, the banana harvested area in Mexico expanded slightly to ha, with an increase of % compared with 2017. Overall, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of % y-o-y. Over the period under review, the harvested area dedicated to banana production reached the peak figure in 2018 and is expected to retain growth in years to come.
The value of the banana market in Mexico rose sharply to $ in 2018, with an increase of % 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). In general, consumption, however, saw a mild slump. The pace of growth appeared the most rapid in 2012 when the market value increased by % year-to-year. Over the period under review, the market attained the peak level at $ in 2016; however, from 2017 to 2018, consumption remained at a lower figure.