Banana Market Overview in the USA

The revenue of the banana market in the U.S. amounted to $1.5B in 2010, jumping by 5% 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 +2.3% over the period from 2007 to 2010; the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2009 with an increase of 33% year-to-year. Over the period under review, the banana market attained its peak figure level in 2010 and is likely to continue its growth in the near future.

In value terms, banana production stood at $6.4M in 2010. Overall, banana production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2009 when production volume increased by 13% against the previous year. Banana production peaked in 2010 and is likely to continue its growth in the immediate term.

Average yield of bananas in the U.S. totaled 18 tonne per ha in 2010, dropping by -3.8% against the previous year. In general, the banana yield continues to indicate a drastic decrease. The most prominent rate of growth was recorded in 2009 when yield increased by 6.3% against the previous year. Banana yield peaked at 22 tonne per ha in 2007; however, from 2008 to 2010, 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.

Banana harvested area in the U.S. totaled 445 ha in 2010, leveling off at the previous year. In general, the banana harvested area continues to indicate a drastic reduction. Banana harvested area peaked at 526 ha in 2007; however, from 2008 to 2010, harvested area failed to regain its momentum.