Philippines: Plantain Market 2024

Plantain Market Size in the Philippines

In 2022, the Philippine plantain market increased by X% to $X, rising for the second consecutive year after seven years of decline. Overall, consumption, however, continues to indicate a noticeable reduction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Plantain Production in the Philippines

In value terms, plantain production amounted to $X in 2022 estimated in export price. Overall, production showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

In 2022, the average plantain yield in the Philippines fell slightly to X tons per ha, remaining constant against the year before. Over the period under review, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the average plantain yield attained the maximum level at X tons per ha in 2015; however, from 2016 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The plantain harvested area in the Philippines reduced to X ha in 2022, approximately mirroring the year before. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X% against the previous year. The plantain harvested area peaked at X ha in 2021, and then reduced in the following year.

Plantain Exports

Exports from the Philippines

In 2022, approx. X tons of plantains were exported from the Philippines; with a decrease of X% compared with the previous year's figure. Overall, exports faced a dramatic descent. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, plantain exports fell sharply to $X in 2022. In general, exports continue to indicate a dramatic descent. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of plantain exports from the Philippines, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for plantain exported from the Philippines were the United Arab Emirates ($X), Japan ($X) and South Korea ($X), together comprising X% of total exports.

Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average plantain export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to Qatar ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plantain Imports

Imports into the Philippines

Plantain imports into the Philippines amounted to X kg in 2022, remaining constant against the year before. Overall, imports continue to indicate a strong increase. The smallest decline of X% was in 2018. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, plantain imports totaled $X in 2022. Over the period under review, imports showed a precipitous curtailment. The smallest decline of X% was in 2018. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Sri Lanka (X kg) was the main plantain supplier to the Philippines, accounting for a approx. X% share of total imports.

From 2017 to 2022, the average annual growth rate of volume from Sri Lanka was relatively modest.

In value terms, Sri Lanka ($X) constituted the largest supplier of plantains to the Philippines.

From 2017 to 2022, the average annual growth rate of value from Sri Lanka was relatively modest.

Import Prices by Country

In 2022, the average plantain import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price faced a dramatic contraction. The most prominent rate of growth was recorded in 2018 when the average import price decreased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Sri Lanka.

From 2017 to 2022, the rate of growth in terms of prices for Sri Lanka amounted to X% per year.

Source: IndexBox Platform

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