GCC: Banana And Plantain Market 2024

Banana And Plantain Market Size in GCC

In 2022, the GCC banana and plantain market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Banana And Plantain Production in GCC

In value terms, banana and plantain production fell to $X in 2022 estimated in export price. In general, production, however, showed a dramatic curtailment. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The country with the largest volume of banana and plantain production was Oman (X tons), comprising approx. X% of total volume. Moreover, banana and plantain production in Oman exceeded the figures recorded by the second-largest producer, the United Arab Emirates (X tons), more than tenfold.

In Oman, banana and plantain production plunged by an average annual rate of X% over the period from 2012-2022.

In 2022, the average yield of bananas and plantains in GCC contracted modestly to X tons per ha, standing approx. at 2021 figures. In general, the yield saw a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2016 to 2022, the growth of the banana and plantain 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.

In 2022, approx. X ha of bananas and plantains were harvested in GCC; therefore, remained relatively stable against the year before. Overall, the harvested area, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the harvested area dedicated to banana and plantain production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Banana And Plantain Exports

Exports in GCC

In 2022, overseas shipments of bananas and plantains increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports enjoyed a measured increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, banana and plantain exports soared to $X in 2022. Over the period under review, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2013 with an increase of X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the main exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total exports. The following exporters - Kuwait (X tons) and Oman (X tons) - each amounted to a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the bananas and plantains exports, with a CAGR of X% from 2012 to 2022. Saudi Arabia (X%), Oman (X%) and Kuwait (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and Oman saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest banana and plantain supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In the United Arab Emirates, banana and plantain exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, remaining stable against the previous year. Overall, the export price, however, saw a noticeable increase. The growth pace was the most rapid in 2019 an increase of X%. The level of export peaked at $X per ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

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

Banana And Plantain Imports

Imports in GCC

In 2022, the amount of bananas and plantains imported in GCC shrank to X tons, falling by X% compared with the year before. Overall, imports saw a mild decline. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, banana and plantain imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates imports structure, together committing X% of total imports. Kuwait (X tons) held the next position in the ranking, followed by Qatar (X tons) and Oman (X tons). All these countries together held near X% share of total imports. Bahrain (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 GCC stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a prominent increase 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 and plantain import price increased by X% against 2017 indices. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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