Global Banana Market Outlook
Global banana production amounted to 117,999 thousand tonnes in 2015, rising by +2.7% against the previous year level. Overall, the global banana output pursued a pronounced growth from 2007 to 2015. The trend pattern, however, indicated some noticable fluctuations throughout the analyzed period. The total output figures increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2010, when the output figure increased by +5% from the previous year level. Over the period under review, the global banana production attained its maximum volume of 117,999 thousand tonnes in 2012. From 2013 to 2015, the total banana output growth failed to regain its strength.
Over the analyzed period, an increase in global banana production was primarily driven by growth of population. Furthermore, these key drivers are expected to continue promoting the banana output in the immediate term. This general positive trend was largely conditioned by a measured expansion of the harvested area and solid gains of the yield figures.
The country with the largest volume of the banana output in absolute volumes was India (31,152 thousand tonnes), accounting for 26% of global production. Moreover, banana output in India exceeded the figures recorded by the world's second largest producer, China (12,342 thousand tonnes), threefold. The third position in this ranking was occupied by the Philippines with a share of 7%. From 2007 to 2015, an average annual growth rate of India's banana producton stood at +3.4%. The remaining producing countries recorded the following average annual growth rates: China (+5.5% per year) and the Philippines (+1.7% per year).
The world banana harvested area amounted to 5,466 thousand ha in 2015, which was almost equal to the previous year figure. The harvested area indicated a slight increase over the period under review, representing a compound annual growth rate of +1.0% from 2007 to 2015. This trend pattern was relatively stable throughout the analyzed period. Over the period under review, the total banana harvested area peaked in 2011, falling back in the following year. From 2012 to 2015, the total banana harvested area fluctuated at lower levels.
The global average banana yield amounted to 216 thousand hg/ha in 2015, rising by 1.8% from the previous year figure. The yield figures recorded an upward trend over the period under review, with a compound annual growth rate standing at +1.8% from 2007 to 2015. These yield figures maintained, all in all, a stable trend pattern throughout the analyzed period. The highest banana yields were recorded in 2015. Albeit an intensification of modern agricultural technics use, the future yield figures subject to a substantional risk of adverse weather conditions.
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