Banana and Plantain Market Overview in the Philippines
In value terms, banana and plantain production fell to $ in 2019 estimated in export prices. Overall, production, however, recorded resilient growth. The pace of growth appeared the most rapid in 2012 with an increase of % against the previous year. Banana and plantain production peaked at $ in 2013; however, from 2014 to 2019, production failed to regain the momentum.
The average yield of bananas and plantains in the Philippines shrank slightly to tonnes per ha in 2019, waning by -% on 2018 figures. In general, the yield indicated moderate growth from 2007 to 2019: its figure increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2012 when the yield increased by % against the previous year. The banana and plantain yield peaked at tonnes per ha in 2018, and then shrank modestly 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.
In 2019, approx. ha of bananas and plantains were harvested in the Philippines; standing approx. at the previous year. Overall, the harvested area recorded perceptible growth. The most prominent rate of growth was recorded in 2012 when the harvested area increased by % y-o-y. As a result, the harvested area attained the peak level of ha. From 2013 to 2019, the growth of the banana and plantain harvested area remained at a lower figure.
The size of the banana and plantain market in the Philippines shrank to $ in 2019, which is down 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). In general, consumption, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2012 with an increase of % year-to-year. As a result, consumption attained the peak level of $. From 2013 to 2019, the growth of the market remained at a somewhat lower figure.