Bananas market in Eastern Asia

Earlier Report Observations

The banana market in Eastern Asia, primarily driven by China, experienced moderate growth from 2018 to 2023. Market volume expanded from 14.25 million metric tons in 2018 to a peak of 15.12 million metric tons in 2021, before gently receding to 14.86 million metric tons in 2023. Domestic production remained relatively stable, fluctuating between 11.5 and 11.8 million metric tons annually, while imports, ranging from 3.0 to 3.4 million metric tons, supplemented the supply to meet demand.

In 2024, several developments influenced the banana supply chain. The introduction and widespread adoption of the wilt-resistant 'Baodao banana' variety aimed to bolster domestic crop resilience. However, major producing regions like Guangdong, Guangxi, Hainan, and Yunnan continued to face constraints from limited land and Panama disease, keeping domestic output under pressure. Typhoon Morakot struck Hainan and Guangdong in September 2024, causing severe damage to over 70% of banana plantations, which threatened production volatility. On the trade front, imports slightly declined, with Vietnam solidifying its position as the leading source, partly facilitated by trade agreements under the Belt and Road Initiative, while shipments from the Philippines decreased.

Production bananas in Eastern Asia

In kind, 2017-2020, K t

Top producers of bananas, 2017-2020

World map of production of bananas, 2017-2020

Eastern Asia's banana production volume declined after two years of growth. In 2019, production reached its peak at 11 656 K t, representing a 3.9% increase from the previous year. However, in 2020, production fell to 11 513 K t, marking a 1.2% decrease compared to 2019. Over the period from 2017 to 2020, production increased by 3.1%, which translates to an average annual growth rate of 1.0%.

Annual dynamics of production in Eastern Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Eastern Asia's banana production value declined for the second consecutive year. In 2018, production value peaked at 8 946 M $ US, showing a 4.0% increase. The following year, in 2019, it experienced its largest decline of 2.2%. By 2020, production value dropped to 8 641 M $ US, reflecting a slight decrease of 1.2% compared to 2019.

Annual dynamics of production in Eastern Asia in value, 2017-2020, M $ US

Exports bananas from Eastern Asia

Exports in kind, K t

Eastern Asia's banana export volume declined after two years of growth. In 2019, exports peaked at 33 K t, with a significant 30.1% increase from the previous year. However, in 2020, export volume fell to 25 K t, representing a sharp 23.6% drop compared to 2019. From 2017 to 2020, exports increased by 5.2%, averaging an annual growth rate of 1.7%.

Annual dynamics of product's exports from Eastern Asia in kind, 2017-2020, K t

From 2017 to 2020, Russia accounted for the largest share of Eastern Asia's banana exports in volume terms, representing 4.5% of total flows.

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

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

Exports in value, M $ US

Foreign banana supplies from Eastern Asia declined after two years of gains. In 2019, export value reached its highest point at 24 M $ US, with a 22.5% increase. In 2020, exports fell to 19 M $ US, marking a substantial 23.6% decrease compared to the previous year. Over the 2017-2020 period, exports increased by 2.5%, equating to an average annual growth rate of 0.8%.

Annual dynamics of product's exports from Eastern Asia in value, 2017-2020, M $ US

Between 2017 and 2020, Russia and the United States were the leading destinations for Eastern Asia's banana exports in value terms, together accounting for 5.6% of total flows.

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

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

Imports bananas to Eastern Asia

Imports in kind, K t

Foreign banana supplies to Eastern Asia declined after two years of advance. In 2018, imports saw their largest increase of 20.2%. The peak was reached in 2019 at 3 430 K t, but in 2020, imports fell to 3 258 K t, reflecting a 5.0% year-over-year decrease. From 2017 to 2020, imports increased by 28.2%, with an average annual growth rate of 8.6%.

Annual dynamics of product's imports to Eastern Asia in kind, 2017-2020, K t

During the 2017-2020 period, the Philippines and Ecuador consistently dominated Eastern Asia's banana imports in volume terms, together accounting for 83.2% of total flows. This indicates a highly concentrated market with numerous smaller suppliers making up the remainder.

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

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

Imports in value, M $ US

Banana import volumes in Eastern Asia declined after two years of increase. In 2018, imports recorded their largest rise of 20.4%. The highest value was achieved in 2019 at 2 414 M $ US, but in 2020, imports dropped to 2 275 M $ US, showing a 5.7% decrease compared to the previous year. Over the 2017-2020 period, imports grew by 22.9%, with a compound annual growth rate of 7.1%.

Annual dynamics of product's imports to Eastern Asia in value, 2017-2020, M $ US

From 2017 to 2020, the Philippines remained the primary source for Eastern Asia's banana imports in value terms, accounting for 71.1% of total flows. The remaining share was distributed among various smaller markets.

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

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