Banana and Plantain Market in Nigeria
In value terms, banana and plantain production stood at $ in estimated in export prices. Over the period under review, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of % against the previous year. Banana and plantain production peaked in and is expected to retain growth in the immediate term.
The average yield of bananas and plantains in Nigeria contracted to tonnes per ha in , remaining constant against the previous year's figure. In general, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the yield increased by % year-to-year. As a result, the yield attained the peak level of tonnes per ha. from 2017 to , 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 , the harvested area of bananas and plantains in Nigeria was estimated at ha, stabilizing at the previous year. Overall, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of % year-to-year. The banana and plantain harvested area peaked at ha in 2015; however, from 2016 to , the harvested area failed to regain the momentum.
The size of the banana and plantain market in Nigeria expanded remarkably to $ in , rising 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). Over the period under review, the total consumption indicated measured growth from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2013 indices. The most prominent rate of growth was recorded in 2019 with an increase of % against the previous year. Banana and plantain consumption peaked in and is likely to see gradual growth in years to come.