Banana Market Overview in the Philippines
In value terms, banana production reduced to $ in 2019 estimated in export prices. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2008 with an increase of % year-to-year. Over the period under review, production attained the peak level at $ in 2012; however, from 2013 to 2019, production failed to regain the momentum.
The average yield of bananas in the Philippines declined to tonnes per ha in 2019, waning by -% against 2018 figures. Overall, the yield showed a noticeable setback. The growth pace was the most rapid in 2008 when the yield increased by % against the previous year. Over the period under review, the average banana yield hit record highs at tonnes per ha in 2011; however, from 2012 to 2019, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The banana harvested area in the Philippines was estimated at ha in 2019, therefore, remained relatively stable against the year before. In general, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of % y-o-y. Over the period under review, the harvested area dedicated to banana production attained the peak figure in 2019 and is expected to retain growth in the near future.
The value of the banana market in the Philippines shrank dramatically to $ in 2019, with a decrease 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 continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2008 when the market value increased by % y-o-y. Over the period under review, the market hit record highs at $ in 2012; however, from 2013 to 2019, consumption failed to regain the momentum.