Banana Market Overview in Viet Nam
In value terms, banana production amounted to $ in 2018 estimated in export prices. In general, banana production continues to indicate a remarkable expansion. The growth pace was the most rapid in 2009 when production volume increased by % year-to-year. Banana production peaked in 2018 and is likely to see gradual growth in the immediate term.
Average yield of bananas in Viet Nam stood at tonne per ha in 2018, approximately equating the previous year. The yield figure increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations over the period under review. The most prominent rate of growth was recorded in 2011 when yield increased by % y-o-y. Banana yield peaked at tonne per ha in 2013; however, from 2014 to 2018, yield failed to regain its momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2018, approx. ha of bananas were harvested in Viet Nam; going up by % against the previous year. The harvested area increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2009 with an increase of % y-o-y. Banana harvested area peaked in 2018 and is likely to continue its growth in the near future.
The revenue of the banana market in Viet Nam amounted to $ in 2018, 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). Overall, banana consumption continues to indicate resilient growth. The most prominent rate of growth was recorded in 2009 when the market value increased by % against the previous year. Banana consumption peaked in 2018 and is expected to retain its growth in the in years to come.