Banana Market Overview in the USA
In value terms, banana production rose significantly to $ in 2018. In general, production, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Over the period under review, production hit record highs at $ in 2011; however, from 2012 to 2018, production failed to regain the momentum.
The average yield of bananas in the U.S. was estimated at tonnes per ha in 2018, picking up by % against the previous year. Overall, the yield, however, saw a perceptible curtailment. The pace of growth was the most pronounced in 2011 with an increase of % against the previous year. The banana yield peaked at tonnes per ha in 2007; however, from 2008 to 2018, the yield failed to regain the momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2018, the banana harvested area in the U.S. rose slightly to ha, surging by % compared with 2017. In general, the harvested area, however, showed a abrupt shrinkage. The banana harvested area peaked at ha in 2007; however, from 2008 to 2018, the harvested area failed to regain the momentum.
The value of the banana market in the U.S. skyrocketed to $ in 2018, 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 posted temperate growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.