Banana Market Overview in Singapore
The revenue of the banana market in Singapore amounted to $18M in 2010, jumping by 2% 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). The market value increased at an average annual rate of +7.3% from 2007 to 2010; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2008 when the market value increased by 15% against the previous year. Banana consumption peaked in 2010 and is likely to see steady growth in the near future.