Bananas market in Cyprus

Earlier Report Observations

The banana market in Cyprus showed steady expansion from 2018 to 2020, rising from 11 685 t to 12 235 t. This growth was primarily driven by imports, which increased by 11% in 2019, offsetting an 8% drop in domestic production. Local banana farming has traditionally been concentrated in the Paphos region, where small-scale cultivation on limited acreage characterizes the supply base.

Market volume contracted by 5% to 11 603 t in 2021, coinciding with a broad increase in production and distribution costs, including rising prices for construction materials that affected agricultural infrastructure. Recovery followed in 2022, with the market growing 8% to 12 558 t, supported by relatively stable international banana prices. A surge in imports of 31% propelled the market to a notable 22% expansion in 2023, reaching 15 375 t, amid a modest rise in global banana prices.

In 2024, banana imports declined to 8 361 t, reflecting the impact of higher energy and fuel costs in Cyprus, which raised logistics and distribution expenses for agricultural goods.

Production bananas in Cyprus

In kind, 2017-2020, t

Top producers of bananas, 2017-2020

World map of production of bananas, 2017-2020

Cyprus's banana production rebounded after a two-year decline. In 2020, the country produced 6,070 tonnes of bananas, marking a 13.7% increase from the previous year. Over the 2017-2020 period, production grew by 3.9%, with an average annual growth rate of 1.3%. The lowest production level was recorded in 2019 at 5,340 tonnes, which also saw the largest decline of 7.8%.

Annual dynamics of production in Cyprus in kind, 2017-2020, t

Exports bananas from Cyprus

Exports in kind, t

The market showed an unstable trend throughout the period. Import levels fluctuated significantly, with a fivefold difference between the peak in 2018 and the low in 2020. In 2020, Cyprus exported 9 tonnes of bananas to foreign markets, representing a substantial increase of 160.2% compared to the prior year.

Annual dynamics of product's exports from Cyprus in kind, 2017-2020, t

From 2017 to 2020, Bulgaria and Greece were the two key markets for Cyprus's banana exports in volume terms, together accounting for 100.0% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Cyprus in kind, 2017-2020

Exports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Exports fluctuated by a factor of 4.6 between the peak in 2018 and the trough in 2020. In 2020, banana deliveries from Cyprus reached 13,000 US dollars, showing a dramatic increase of 227.4% relative to the previous year.

Annual dynamics of product's exports from Cyprus in value, 2017-2020, K $ US

Between 2017 and 2020, Bulgaria and Greece clearly dominated as the main buyers of bananas from Cyprus, jointly accounting for 100.0% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Cyprus in value, 2017-2020

Imports bananas to Cyprus

Imports in kind, t

After a two-year uptick, banana deliveries to Cyprus declined. In 2020, Cyprus imported 6,175 tonnes of bananas, which was 6.6% less than in 2019. Over the 2017-2020 period, imports increased by 18%, with an average annual growth rate of 5.7%. The highest import volume was recorded in 2019 at 6,613 tonnes, while the largest increase occurred in 2018 at 13.6%.

Annual dynamics of product's imports to Cyprus in kind, 2017-2020, t

From 2017 to 2020, Greece and Ecuador were the primary sources for Cyprus's banana imports in volume terms, together accounting for 96.4% of total import flows, with the remaining share distributed among other markets.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Cyprus in kind, 2017-2020

Imports in value, K $ US

After a two-year increase, Cyprus's banana imports declined. In 2020, imports amounted to 5,356,000 US dollars, which was 7.3% less than in 2019. Over the 2017-2020 period, imports grew by 14.5%, with an average annual growth rate of 4.6%. The peak import value was recorded in 2019 at 5,777,000 US dollars, and the largest increase was seen in 2018 at 14.4%.

Annual dynamics of product's imports to Cyprus in value, 2017-2020, K $ US

Between 2017 and 2020, two markets—Greece and Ecuador—played leading roles in Cyprus's banana imports in value terms, together accounting for 96.0% of total import flows, while the remainder was distributed among other destinations.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Cyprus in value, 2017-2020