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Hello, we're going to be talking about Bananas.
Before we proceed, let's highlight the salient.
Banana is easily one of the most consumed fruits in the world, and it is not only because of the rich nutrients but also the rich taste of the fruit. They are a very core part of many of the deserts, parfaits, and even baked goods that you enjoy daily. Individually speaking, bananas are also consumed after cooking via frying, boiling, stewing, or several other methods. Mashed bananas are popular foods for babies and toddlers.
The nutrient that bananas inhabit the most is potassium. It is understood that a single large sized banana contains enough potassium in it to fulfill your more than half of the daily requirement. Then you also have nutrients like iron, magnesium, Vitamin B6, riboflavin, niacin, and other antioxidants as well. They are also a very good source of fiber which helps in digestion and keeps the heart pumping properly by reducing blood pressure. Worldwide 116,781,658 tonnes of banana is produced per year.
India is the largest banana producer in the world with 30,460,000 tonnes production per year. China comes second with 11,998,329 tonnes yearly production. With 7,280,659 tonnes of production per year, Indonesia is the third largest producer of banana. Global purchases of imported bananas totaled 15.6 billion dollars in 2020. Overall, the value of bananas imports for all importing countries rose by an average 6.2 percent since 2016 when international purchases of bananas were valued at 14.7 billion dollars. From 2019 to 2020, imported bananas depreciated by minus 3 percent. By value, the largest 5 exporters which are United States, Belgium, Russia, Japan, and Germany bought 45 percent of imported bananas in 2020. Among the top exporters, the fastest growing sellers of bananas on international markets from 2019 to 2020 were: Ivory Coast up by 137 percent, Dominican Republic up by 63.9 percent, Ecuador up by 27.5 percent, and Honduras up by 20.5 percent.
Banana is an elongated, edible fruit botanically a berry produced by several kinds of large herbaceous flowering plants in the genus Musa. In some countries, bananas used for cooking may be called "plantains", distinguishing them from dessert bananas.
The fruit is variable in size, color, and firmness, but is usually elongated and curved, with soft flesh rich in starch covered with a rind, which may be green, yellow, red, purple, or brown when ripe. The fruits grow in clusters hanging from the top of the plant. Almost all modern edible seedless bananas come from two wild species which are the Musa acuminata and Musa balbisiana.
Musa species are native to tropical Indomalaya and Australia and are likely to have been first domesticated in Papua New Guinea. They are grown in 135 countries, primarily for their fruit, and to a lesser extent to make fiber, banana wine, and banana beer and as ornamental plants. The world's largest producers of bananas in 2017 were India and China, which together accounted for approximately 38 percent of total production.
Worldwide, there is no sharp distinction between bananas and plantains. Especially in the Americas and Europe, banana usually refers to soft, sweet, dessert bananas, particularly those of the Cavendish group, which are the main exports from banana growing countries. By contrast, Musa cultivars with firmer, starchier fruit are called plantains. In other regions, such as Southeast Asia, many more kinds of bananas are grown and eaten, so the binary distinction is not useful and is not made in local languages.
Banana is easily one of the most consumed fruits in the world, and it is not only because of the rich nutrients but also the rich taste of the fruit. They are a very core part of many of the deserts, parfaits, and even baked goods that you enjoy daily. Individually speaking, bananas are also consumed after cooking via frying, boiling, stewing, or several other methods. Mashed bananas are popular foods for babies and toddlers.
The nutrient that bananas inhabit the most is potassium. It is understood that a single large sized banana contains enough potassium in it to fulfill your more than half of the daily requirement. Then you also have nutrients like iron, magnesium, Vitamin B6, riboflavin, niacin, and other antioxidants as well. They are also a very good source of fiber which helps in digestion and keeps the heart pumping properly by reducing blood pressure.
Top Banana Consuming Countries
Based on a comparison of 148 countries in 2018, India ranked the highest in banana consumption with 24,530 tons followed by China and Indonesia. On the other end of the scale were Tajikistan with 1.00 metric kiloton, East Timor with 1.00 metric kiloton, and Lesotho with 1.00 metric kiloton. Total banana consumption reached 88,374 metric kilo ton in 2018 in the World according to Faostat. This is 1.31 percent more than in the previous year and 13.1 percent more than 10 years ago. Historically, total banana consumption reached an all time high of 88,568 metric kilo ton in 2015 and an all time low of 16,374 metric kilo ton in 1961. The average annual growth amounted to 3.00 percent since 1961. The top ranked country, India, accounted for 27.8 percent of banana consumption in the world. The top 3 countries hold a 46.5 percent share while the ten largest countries some 68.0 percent in 2018.
The banana market is stable in many countries, without unexpected peaks or dips in the demand. The supply is also stable. Although there have been some delays in sea freight recently, these issues seem to have been resolved. Banana prices are at a normal level, but in some countries they are showing a slight upward trend. At the production level, things are normal, with the exception of some areas that have had to deal with extreme weather conditions. These conditions are not having a major impact on the global supply.
The global production of bananas in 2019 was 116.0 million metric ton, and it is projected to register a CAGR of 4.1 percent during the forecast period of 2021 to 2026.
The global pandemic has hit this agrosystem hardest. Due to lockdown restrictions across the world, there have been shortages of labor and planting materials affecting production. The closed markets have resulted in a price crash in few markets, while in others, there was an increase in prices. Due to COVID 19, future objectives are focused on developing sustainable marketing and processing lines for bananas across the world.
In 2018, Asia Pacific led the market with 61.0 percent of global consumption. India is the world's leading producer of bananas, accounting for nearly 25.7 percent of the total output in 2019. Bananas are one of the major globally exported fruits and also an important source of livelihood and food.
Bananas are the fourth most important food crop after wheat, rice, and maize in terms of production and are the world’s favorite fruit in terms of consumption quantity. According to ITC Trademap, the global banana exports were estimated at 24.9 million metric ton in 2019. Ecuador was the largest exporter of bananas, accounting for 24.8 percent of the global exports. The Philippines, Costa Rica, and Colombia are the other top banana exporters in the world. The United States was the leading importer of bananas, with a 16.8 percent share in the world’s imports in 2019.
According to the FAO and the Ecuador government, the banana industry generates about 2 million direct and indirect jobs Equador. At the height of the Windward Islands industry, it was estimated that up to sixty cents in every dollar circulating in the fragile island economy of Dominica were generated by banana production.
They are an essential source of income and employment for many households, as well as being a source of nutrition and food security for more than 400 million people in producer countries. However, only 15 to 20 percent of the world’s banana production is traded internationally. The largest producer, India exports almost nothing, whilst Brazil exports very little, keeping bananas for the domestic market.
Top Banana Cultivating Countries
Worldwide 116,781,658 tonnes of banana is produced per year.
India is the largest banana producer in the world with 30,460,000 tonnes production per year. China comes second with 11,998,329 tonnes yearly production. With 7,280,659 tonnes of production per year, Indonesia is the third largest producer of banana.
India is the largest banana producing country in the world, and because it produces 2.4 times more bananas than China with roughly the same population, it is very impressive indeed. It is the reason why India is the major player in the banana exports market as it even exports to the western regions.
China’s production capacity has dwindled over the years as it even approached more than 12 million tons in the recent past. Now China’s annual production is just over 10.5 million which is still pretty impressive but not nearly enough to make the country a powerhouse in banana exports.
The Philippines is the third country on the list with over 9.2 million productions of bananas yearly. Because the Philippines is an archipelago nation with hundreds of Islands, most of the banana plantation is done in provinces that are among the larger islands like Bukidnon, Davao, and others. Cavendish and Saba are the most popular types of bananas grown in the Philippines.
Only recently, Ecuador has gone past the production scale of Brazil annually and has produced more than 7 million tons of bananas in a single year. Most of the bananas produced in the country are the result of the banana market demand in the western hemisphere considering that most cultivation areas are privately owned. Ecuador has a larger export capacity than its rival in production, Brazil, also considering its population is 12.6 times smaller, thus having considerably less domestic consumption.
With a production capacity of over 6.9 million metric tons annually, Brazil supplies roughly 10 percent of the world’s total banana production. The state of Sao Paolo boasts the largest overall area of banana cultivation in the country. Brazil is also one of the major exporters of bananas, especially in South America. The countries that mainly import from Brazil are Peru, Uruguay, Argentina, and Bolivia.
Top Banana Consuming Countries
Global purchases of imported bananas totaled 15.6 billion dollars in 2020.
Overall, the value of bananas imports for all importing countries rose by an average 6.2 percent since 2016 when international purchases of bananas were valued at 14.7 billion dollars. From 2019 to 2020, imported bananas depreciated by minus 3 percent.
By value, the largest 5 exporters which are United States, Belgium, Russia, Japan, and Germany bought 45 percent of imported bananas in 2020.
From a continental perspective, European nations consumed the highest dollar worth of imported bananas during 2020 with purchases valued at 8.7 billion dollars or 55.4 percent of the global total. In second place were North American importers at 20.7 percent trailed by Asia also at 19.9 percent.
Smaller percentages of globally imported bananas arrived in Latin America are valued at 2.7 percent excluding Mexico but including the Caribbean, Africa got 0.7 percent then Oceania had 0.5 percent led by New Zealand.
Among the above countries, the fastest-growing markets for bananas from 2019 to 2020 were: Argentina up by 24.1 percent, Poland up by 14.4 percent, France up by 10.9 percent, and Belgium up by 6.7 percent.
Those countries that posted declines in their imported bananas purchases were led by: China down by minus 14.7 percent, South Korea down by minus 8.5 percent, Germany down by minus 3.8 percent, and United Kingdom down by 2.6 percent.
Worldwide exports of bananas from all countries totaled an estimated 14.7 billion dollars in 2020, up by an average of 41.7 percent for all banana shippers over the five-year period starting in 2016 when bananas shipments were valued at 10.7 billion dollars.
Year over year, the value of global banana exports increased by 6.1 percent from 2019 to 2020.
The biggest 5 exporters of bananas which are Ecuador, the Philippines, Costa Rica, Colombia, and Guatemala accounted for almost 60 percent of all bananas sold on international markets.
From a continental perspective, Latin American excluding Mexico plus the Caribbean produced the highest dollar worth of banana exports in 2020 via shipments valued at 8.7 billion dollars or 57.2 percent of international banana sales. Asian exporters were responsible for 16.9 percent of total exported bananas, trailed by shippers in Europe at 15.7 percent.
Smaller percentages came from exporters in Africa with 5.5 percent, North America with 4.6 percent then Oceania with 0.03 percent led by Australia.
Among the top exporters, the fastest growing sellers of bananas on international markets from 2019 to 2020 were: Ivory Coast up by 137 percent, Dominican Republic up by 63.9 percent, Ecuador up by 27.5 percent, and Honduras up by 20.5 percent.
Those countries that posted declines in their exported bananas sales were led by: Philippines down by minus 16.7 percent, Belgium down by minus 15.3 percent, Mexico down by minus 8.4 percent, Myanmar down by minus 7.3 percent, and Cameroon down by minus 0.7%.
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