Banana and Plantain Market in the Philippines
Market Overview
The Philippine banana and plantain market stood at $
in , increasing 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). Overall, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. Over the period under review, the market reached the maximum level at $ in 2012; however, from 2013 to , consumption stood at a somewhat lower figure.
In value terms, banana and plantain production rose sharply to $ in estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when the production volume increased by % y-o-y. Banana and plantain production peaked at $ in 2013; however, from 2014 to , production failed to regain the momentum.
In, the average yield of bananas and plantains in the Philippines dropped modestly to tonnes per ha, with a decrease of -% against the previous year. The yield figure increased at an average annual rate of +% from 2007 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when the yield increased by % against the previous year. Over the period under review, the average banana and plantain yield hit record highs at tonnes per ha in 2018; however, from 2019 to , the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In, approx. ha of bananas and plantains were harvested in the Philippines; therefore, remained relatively stable against 2019 figures. Overall, the harvested area, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2009 with an increase of % y-o-y. Over the period under review, the harvested area dedicated to banana and plantain production reached the peak figure at ha in 2012; however, from 2013 to , the harvested area stood at a somewhat lower figure.
in , increasing 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). Overall, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. Over the period under review, the market reached the maximum level at $ in 2012; however, from 2013 to , consumption stood at a somewhat lower figure.In value terms, banana and plantain production rose sharply to $
in estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when the production volume increased by % y-o-y. Banana and plantain production peaked at $ in 2013; however, from 2014 to , production failed to regain the momentum.In
, the average yield of bananas and plantains in the Philippines dropped modestly to tonnes per ha, with a decrease of -% against the previous year. The yield figure increased at an average annual rate of +% from 2007 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when the yield increased by % against the previous year. Over the period under review, the average banana and plantain yield hit record highs at tonnes per ha in 2018; however, from 2019 to , the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.In
, approx. ha of bananas and plantains were harvested in the Philippines; therefore, remained relatively stable against 2019 figures. Overall, the harvested area, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2009 with an increase of % y-o-y. Over the period under review, the harvested area dedicated to banana and plantain production reached the peak figure at ha in 2012; however, from 2013 to , the harvested area stood at a somewhat lower figure.Consumption
In , approx. tonnes of bananas and plantains were consumed in the Philippines; which is down by -% on the previous year's figure. Over the period under review, consumption continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2008 when the consumption volume increased by % year-to-year. Over the period under review, consumption hit record highs at tonnes in 2012; however, from 2013 to , consumption remained at a lower figure.
The size of the banana and plantain market in the Philippines amounted to $ in , growing 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 saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the market value increased by % year-to-year. Banana and plantain consumption peaked at $ in 2012; however, from 2013 to , consumption failed to regain the momentum.
, approx. tonnes of bananas and plantains were consumed in the Philippines; which is down by -% on the previous year's figure. Over the period under review, consumption continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2008 when the consumption volume increased by % year-to-year. Over the period under review, consumption hit record highs at tonnes in 2012; however, from 2013 to , consumption remained at a lower figure.The size of the banana and plantain market in the Philippines amounted to $
in , growing 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 saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the market value increased by % year-to-year. Banana and plantain consumption peaked at $ in 2012; however, from 2013 to , consumption failed to regain the momentum.Market Forecast
Driven by rising demand for banana and plantain in the Philippines, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of % for the period from to , which is projected to bring the market volume to tonnes by the end of .
% for the period from to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Over the period under review, imports of banana and plantain in the Philippines were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for banana and plantain.
Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
Download XLSX
Download all the data in the form of a report