03/11/2020 | All countries

Global banana production expected to increase by 10 million tonnes

According to the FAO, the Food and Agriculture Organization of the United Nations, banana cultivation has experienced a rapid increase in production volumes as well as volumes traded in recent decades. Globally, production is expected to increase by 10 million tonnes by 2029.
Although most banana cultivation is carried out informally by smallholder farmers, and therefore precise figures are difficult to obtain, FAO has produced estimates. According to the organization, the average global banana production increased from 69 million tonnes in 2000-2002 to 116 million tonnes in 2017-2019. This global production is expected to reach 126 million tonnes by 2029.
The global banana market, excluding plantains, grew 10.2% in 2019, reaching a new record of around 21 million tonnes. Only around 15% to 20% of total banana production is traded on the international market, generating annual turnover of around $12 billion (for 2017).
The rest of the total production is consumed locally. Especially in large producing countries such as India, China and Brazil, and in some African countries where bananas make a major contribution to the diet of populations.
Increased consumption in import markets (Europe and Russia in particular), income growth in emerging markets as well as population growth will be the growth factors for the global banana trade.



source : asiatimes.com, fao.org economic commodities

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