Bananas market in Southern Europe

Earlier Report Observations

The banana market in Southern Europe operated under the EU's Common Market Organisation (OCM) regulations throughout the period, setting quality standards and balancing supply sources. In 2018 and 2019, targeted efforts to place more Canary Islands bananas in Spanish fruit shops reduced the price gap with imported bananas, stimulating domestic production, which rose from 413 тыс. т to 431 тыс. т. This, combined with a drop in imports from 1 880 тыс. т to 1 803 тыс. т, led to a contraction of the total market volume from 2 078 тыс. т to 1 917 тыс. т in 2019, though the market value increased due to shifting price structures.

Market volume recovered to 2 027 тыс. т in 2020 as imports into Spain grew, reflecting changed demand patterns. The following year, the volcanic eruption on La Palma temporarily constrained Canary Islands banana supply until October, after which wholesale prices fell while retail prices remained high, affecting consumption. Concurrently, high prices for imported bananas slowed wholesale uptake and diverted shipments to Northern Europe. As a result, market volume saw only modest growth to 2 047 тыс. т in 2021, while value rose.

In 2022, an oversupply of Canary Islands bananas forced the destruction of part of the harvest to balance the market, and high import banana prices continued to dampen wholesale demand. Globally, a 12% drop in banana exports from Ecuador further tightened supply. These factors contributed to a decline in market volume to 1 991 тыс. т. However, in 2023, despite ongoing oversupply of Canary bananas, market volume jumped sharply to 2 252 тыс. т, driven by a surge in domestic production to 500 тыс. т and imports reaching 2 008 тыс. т, alongside a redirection of imported bananas to Northern Europe that altered competitive dynamics.

Production bananas in Southern Europe

In kind, 2017-2020, K t

Top producers of bananas, 2017-2020

World map of production of bananas, 2017-2020

Banana production in Southern Europe grew for the second year in a row. In 2018, output hit its lowest point at 413.3 thousand tonnes, with an 8.5% decline that year. By 2020, production had risen to 451.2 thousand tonnes, marking a 4.8% increase compared to 2019.

Annual dynamics of production in Southern Europe in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The value of banana production in Southern Europe fell for the second consecutive year. In 2018, it peaked at 462.0 million US dollars, showing a 16.4% increase. However, 2019 saw the largest decline of 26.7%. By 2020, production was valued at 338.3 million US dollars, with only a slight change from 2019. Overall, from 2017 to 2020, production decreased by 14.7%, averaging a 5.2% annual drop.

Annual dynamics of production in Southern Europe in value, 2017-2020, M $ US

Exports bananas from Southern Europe

Exports in kind, K t

Banana exports from Southern Europe increased for the second straight year. In 2018, exports reached their minimum at 215 thousand tonnes, declining by 9.3%. The following year, 2019, saw the largest rise of 47.6%. By 2020, exports had grown to 337 thousand tonnes, up 6.3% from 2019. From 2017 to 2020, exports surged by 42.2%, with an average annual growth rate of 12.5%.

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

Between 2017 and 2020, Southern Europe's banana exports in volume terms were spread across a diverse range of partners. Romania accounted for 13.5% of exports, France for 13.2%, and Bulgaria for 8.3%. Together, these three countries made up just 35.0% of total export flows.

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

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

Exports in value, M $ US

The value of banana exports from Southern Europe rose for the third consecutive year. In 2020, exports reached 253 million US dollars, increasing by 1.4% compared to 2019. Over the period from 2017 to 2020, exports grew by 21.5%, with an average annual rate of 6.7%.

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

From 2017 to 2020, banana exports in value terms were distributed among a wide array of partner countries. Romania represented 14.9% of exports, France 12.9%, and Bulgaria 8.0%. Combined, these three accounted for only 35.8% of total export flows.

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

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

Imports bananas to Southern Europe

Imports in kind, K t

In 2020, Southern Europe imported 1 913 thousand tonnes of bananas, up 6.1% from 2019. The largest increase occurred in 2018, at 11.2%, while 2019 saw the largest decline of 4.1%. Overall, imports grew by 13.2% from 2017 to 2020, with an average annual increase of 4.2%.

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

Between 2017 and 2020, the top sources for banana imports to Southern Europe in volume terms were Ecuador, with 33.2% of imports, Costa Rica at 22.0%, and Colombia at 21.4%. Together, these three countries supplied 76.6% of total import flows.

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

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

Imports in value, M $ US

In 2020, banana imports to Southern Europe were valued at 1 255 million US dollars, showing a modest 1.1% gain from 2019. The highest value was recorded in 2018 at 1 287 million US dollars, with a 13.1% increase that year. In 2019, imports declined by 3.5%. Over the 2017-2020 period, imports increased by 10.3%, averaging 3.3% growth per year.

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

From 2017 to 2020, three key markets—Ecuador, Costa Rica, and Colombia—collectively accounted for 74.5% of the total value of banana imports to Southern Europe.

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

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