Eastern Asia: Banana Market 2024

Banana Market Size in Eastern Asia

The East Asian banana market declined slightly to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Banana Production in Eastern Asia

In value terms, banana production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of banana production was China (X tons), comprising approx. X% of total volume. It was followed by Taiwan (Chinese) (X tons), with a X% share of total production.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest.

In 2022, the average banana yield in Eastern Asia contracted modestly to X tons per ha, flattening at 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of yield peaked at X tons per ha in 2021, and then reduced in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of bananas were harvested in Eastern Asia; leveling off at the year before. Over the period under review, the harvested area saw a slight curtailment. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2016 to 2022, the growth of the banana harvested area failed to regain momentum.

Banana Exports

Exports in Eastern Asia

In 2022, banana exports in Eastern Asia reduced modestly to X tons, approximately equating the year before. In general, exports, however, showed modest growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, banana exports expanded significantly to $X in 2022. Overall, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, China (X tons) was the key exporter of bananas, creating X% of total exports. It was distantly followed by Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together comprising a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to banana exports from China stood at X%. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) and Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest banana supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, banana export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Banana Imports

Imports in Eastern Asia

In 2022, banana imports in Eastern Asia declined to X tons, dropping by X% compared with the previous year. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, banana imports totaled $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2019; afterwards, it flattened through to 2022.

Imports by Country

In 2022, China (X tons) represented the major importer of bananas, creating X% of total imports. Japan (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%). Hong Kong SAR (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Japan ($X per ton), while China ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :