Banana and Plantain Market Overview in the Philippines
In value terms, banana and plantain production expanded notably 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 % year-to-year. Over the period under review, production attained the peak level at $ in 2013; however, from 2014 to , production stood at a somewhat lower figure.
In , the average yield of bananas and plantains in the Philippines reached tonnes per ha, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the yield increased by % year-to-year. The banana and plantain yield peaked at tonnes per ha in 2018; however, from 2019 to , 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.
In , the total area harvested in terms of bananas and plantains production in the Philippines shrank slightly to ha, declining by -% on the previous year's figure. In general, the harvested area saw a noticeable setback. The growth pace was the most rapid in 2009 when the harvested area increased by % against the previous year. The banana and plantain harvested area peaked at ha in 2012; however, from 2013 to , the harvested area stood at a somewhat lower figure.
The size of the banana and plantain market in the Philippines soared to $ in , with an increase 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). Over the period under review, consumption, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2008 with an increase of % y-o-y. 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.