Brazil and Ecuador Are the Major Producers on the Banana Market in Central and South America
Banana Consumption Slipped Back Slightly in 2016; the Overall Trend, however, Remains Relatively Stable
In 2016, the banana market of Central and South America stood at 14.1M tonnes. Despite some fluctuations in certain years, there was overall stable trend pattern of banana consumption from 2010 to 2016. Previously, consumption increased with a double-digit growth rate. In wholesale prices, the market contracted to $6.0B in 2016, demonstrating a downward trend from 2010 (IndexBox estimates). This figure reflects total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).
Banana Consumption Is Expected to Reach 14.7M Tonnes by 2025
In the medium term, banana markets in Central and Latin America countries are set to continue moderate growth. Bananas are one of the staple foods in Central and Latin America, which, depending on the banana variety, are used not only as a dessert but also as a basic food; therefore, the steady demand for bananas will continue in the countries of the region.
In the medium term, Central and Latin American market is set to continue a moderate growth. The expected population growth will drive the consumption of bananas in these countries. In the medium term, the increase in banana consumption is projected to average +0.5% annually from 2016 to 2025. By 2025, the market volume is expected to reach 14.7M tonnes.
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