Bananas market in Northern America

Earlier Report Observations

From 2018 to 2020, the physical volume of the banana market in Northern America grew to a peak of 595.8 thousand tonnes in 2020, while its value increased steadily to 420.4 million USD. Domestic production remained minimal and stable, between 3.5 and 4.0 thousand tonnes annually, with imports consistently supplying over 580 thousand tonnes each year to meet demand.

Market value continued its upward trend from 2021 to 2022, reaching 467.3 million USD in 2022, even as the physical volume dipped to 574.6 thousand tonnes. This rise in market value was driven by increasing banana prices, with the US export price per kilogram climbing from 0.77 USD/kg in 2021 to 0.83 USD/kg in 2022.

By 2023, the market value grew further to 473.5 million USD alongside a volume recovery to 591.3 thousand tonnes. This period was marked by significant industry consolidation and shifting demand. Major strategic moves, such as Chiquita Brands International's partnership with Tesco to expand sustainable supply chains and Del Monte Foods' acquisition of Fyffes, reshaped global production capacity. Consumer preference for healthy snacking bolstered demand for premium segments like dried bananas and organic, fair-trade varieties. Concurrent investments in agricultural technology and disease management aimed at securing long-term supply stability.

Production bananas in Northern America

In kind, 2017-2020, t

Top producers of bananas, 2017-2020

World map of production of bananas, 2017-2020

In Northern America, banana production reached 3,474 tonnes in 2020, marking a slight increase of 0.6% compared to the previous year. Over the four-year period from 2017 to 2020, production grew by 15%, with an average annual growth rate of 4.8%. The highest production level was recorded in 2018 at 3,950 tonnes, which represented a significant increase of 30.8% from the previous year. However, in 2019, production experienced its largest decline, dropping by 12.6%.

Annual dynamics of production in Northern America in kind, 2017-2020, t

In value, 2017-2020, K $ US

Banana production in Northern America declined for the second consecutive year in 2020, with the output valued at 2,743 thousand US dollars, down by 0.6% from the previous year. From 2017 to 2020, production decreased by 3.9%, translating to an average annual decline of 1.3%. The peak value was observed in 2018 at 3,379 thousand US dollars, which saw an increase of 18.5% from the prior year. In contrast, 2019 recorded the largest decline, with production falling by 18.4%.

Annual dynamics of production in Northern America in value, 2017-2020, K $ US

Exports bananas from Northern America

Exports in kind, K t

The data shows irregular changes in banana exports from Northern America, indicating a volatile market environment. Exports varied significantly, with a 4.7-fold difference between the minimum in 2017 and the maximum in 2019. In 2020, exports amounted to 0.2 thousand tonnes, reflecting a substantial decrease of 14.3% compared to the previous year. The highest export volume was recorded in 2019 at 0.2 thousand tonnes, while the largest increase occurred in 2018, with a surge of 204.7%.

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

From 2017 to 2020, the main buyers of bananas from Northern America were France, accounting for 45.2% of exports in kind, Trinidad and Tobago with 2.7%, and South Korea with 0.9%. Together, these three countries formed 48.8% of total exports in kind during this period.

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

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

Exports in value, M $ US

The export market for bananas from Northern America showed signs of volatility over the observed period, with a fourfold variation between the low in 2017 and the high in 2019. In 2020, cross-border shipments reached 0.2 million US dollars, equivalent to a solid drop of 15.4% compared to 2019. The maximum value was recorded in 2019 at 0.2 million US dollars, while the largest increase occurred in 2018, with a rise of 176.0%.

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

Throughout 2017 to 2020, France remained the key destination for banana exports in value terms, representing 22.3% of total exports, followed by Trinidad and Tobago at 1.4% and South Korea at 0.7%. Collectively, these three markets accounted for 24.4% of total export flows in value terms.

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

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

Imports bananas to Northern America

Imports in kind, K t

Northern America's banana import volume increased for the second consecutive year in 2020, totalling 592.6 thousand tonnes, which is 1.9% higher than in 2019. Over the period from 2017 to 2020, imports grew by 2.2%, with an average annual growth rate of 0.7%. The lowest import volume was recorded in 2018 at 578.2 thousand tonnes, which saw a slight decline of 0.3% from the previous year.

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

From 2017 to 2020, the main sources for banana imports in kind to Northern America were Guatemala, contributing 40.5% of imports, Costa Rica with 24.0%, and Ecuador with 12.4%. Together, these three countries accounted for 76.9% of total import flows in kind.

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

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

Imports in value, M $ US

Northern America's banana import volume increased for the third consecutive year in 2020, with imports valued at 417.8 million US dollars, up by 1.6% compared to the previous year. Over the period from 2017 to 2020, imports rose by 2.5%, with an average annual growth rate of 0.8%.

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

Throughout 2017 to 2020, the key directions for banana imports in value terms were Guatemala, representing 41.1% of imports, Costa Rica with 21.4%, and Ecuador with 14.0%. Together, these three markets made up 76.5% of total import flows in value terms.

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

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