Philippines - Bananas - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBanana Price in the Philippines - 2023
Contents:
- Banana Price in the Philippines (FOB) - 2022
- Banana Price in the Philippines (CIF) - 2022
- Banana Exports in the Philippines
- Banana Imports in the Philippines
Banana Price in the Philippines (FOB) - 2022
The average banana export price stood at $790 per ton in 2022, with an increase of 5.3% against the previous year. Overall, the export price saw a mild increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 8.2%. As a result, the export price reached the peak level of $862 per ton. From 2017 to 2022, the average export prices remained at a 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 ($791 per ton) and Saudi Arabia ($791 per ton), while the average price for exports to Kuwait ($791 per ton) and China ($791 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 Hong Kong SAR (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.
Banana Price in the Philippines (CIF) - 2022
The average banana import price stood at $774 per ton in 2022, approximately equating the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 1,697%. As a result, import price attained the peak level of $10,874 per ton. From 2018 to 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +13.7% per year.
Banana Exports in the Philippines
In 2022, the amount of bananas exported from the Philippines dropped sharply to 1.4M tons, which is down by -33.1% on the previous year's figure. Over the period under review, exports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 1.7%.
In value terms, banana exports dropped significantly to $1.1B in 2022. In general, exports recorded a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 1.1% against the previous year.
Export of Banana in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 775 | 760 | 755 | 486 | -14.4% |
China | 587 | 452 | 490 | 360 | -15.0% |
South Korea | 237 | 206 | 213 | 144 | -15.3% |
Saudi Arabia | 65.1 | N/A | N/A | 22.9 | -29.4% |
Iran | N/A | N/A | N/A | 16.9 | 0% |
Hong Kong SAR | 44.5 | 36.7 | 28.4 | 15.5 | -29.6% |
Others | 98.8 | 83.6 | 67.7 | 51.0 | -19.8% |
Total | 1,808 | 1,538 | 1,554 | 1,096 | -15.4% |
Top Export Markets for Banana from the Philippines in 2022:
- Japan (614.7K tons)
- China (454.8K tons)
- South Korea (181.8K tons)
- Saudi Arabia (28.9K tons)
- Iran (21.4K tons)
- Hong Kong SAR (19.6K tons)
Banana Imports in the Philippines
In 2022, overseas purchases of bananas decreased by -99.4% to 669 kg, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. As a result, imports attained the peak of 794 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, banana imports shrank notably to $518 in 2022. In general, imports showed a precipitous descent. The smallest decline of -29.4% was in 2020.
Import of Banana in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | N/A | N/A | N/A | 0.5 | 0% |
South Korea | 6.8 | 21.0 | 85.8 | N/A | 255.2% |
Costa Rica | N/A | 263 | N/A | N/A | 0% |
United Arab Emirates | 539 | 105 | N/A | N/A | -80.5% |
Others | 18.7 | 9.8 | 2.8 | N/A | -61.3% |
Total | 564 | 398 | 88.6 | 0.5 | -90.4% |
Top Suppliers of Banana to the Philippines in 2022:
- United States (669.0 kg)
This report provides an in-depth analysis of the banana market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 486 - Bananas
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the banana market in the Philippines.
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