Banana Market Overview in Mexico
In value terms, banana production stood at $905M in 2010 estimated in export prices. Overall, banana production, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2008 when production volume increased by 12% y-o-y. Over the period under review, banana production attained its peak figure level at $1.1B in 2009, and then declined slightly in the following year.
Average yield of bananas in Mexico amounted to 27 tonne per ha in 2010, coming down 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 most prominent rate of growth was recorded in 2008 when yield increased by 6.6% against the previous year. Banana yield peaked 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 stood at 77K ha in 2010, approximately reflecting the previous year. Overall, the banana harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when harvested area increased by 2.7% y-o-y. In that year, the banana harvested area reached its peak level of 78K ha. From 2009 to 2010, the growth of the banana harvested area remained at a lower figure.
The revenue of the banana market in Mexico amounted to $851M in 2010, declining by -15.4% 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 perceptible contraction. The pace of growth was the most pronounced in 2008 with an increase of 9% year-to-year. In that year, the banana market attained its peak level of $1B. From 2009 to 2010, the growth of the banana market remained at a somewhat lower figure.