Bananas market in Spain

Earlier Report Observations

Between 2018 and 2020, the Spanish banana market volume showed moderate fluctuations, rising from 647 thousand tons to 662 thousand tons in 2019 before a slight contraction to 652 thousand tons in 2020.

The volcanic eruption on La Palma in 2021 reduced banana production in the Canary Islands by 15%, shifting supply dynamics and increasing reliance on imports. This was compounded by atypical prices that year. In 2022, the eruption's aftermath continued to affect output for several months, leading to crop destruction to rebalance the market as supply temporarily exceeded demand. Multinational importers from Central America and West Africa, controlling about half of the agricultural business in Spain, intensified competition for local bananas.

A strong production recovery in the Canary Islands, with volumes reaching an estimated 480 thousand tons in 2023, drove the total market volume up sharply to 784 thousand tons. Concurrently, a normalization of maritime freight costs facilitated import and export flows, further stimulating market activity. However, the sector faced persistent challenges from competition with higher-priced imported bananas and quality concerns related to the appearance of Canarian fruit.

Production bananas in Spain

In kind, 2017-2020, K t

Top producers of bananas, 2017-2020

World map of production of bananas, 2017-2020

Banana production in Spain has increased for the second consecutive year. In 2020, Spain produced 420.1 thousand tonnes of bananas, representing a modest 5.4% increase compared to the previous year. The lowest production level was recorded in 2018 at 386.2 thousand tonnes, which also saw the largest decline of 8.3%.

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

In value, 2017-2020, M $ US

Banana production in Spain has increased for the second consecutive year. In 2020, the output of bananas in Spain was valued at 324.2 million US dollars, marking an 8.8% increase from 2019. The lowest value was recorded in 2018 at 290.8 million US dollars, which also experienced the largest decline of 8.9%.

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

Exports bananas from Spain

Exports in kind, K t

Exported banana volumes from Spain have declined for the second consecutive year. In 2020, exports amounted to 92.5 thousand tonnes, which is 4.7% lower than the previous year. Over the period from 2017 to 2020, exports decreased by 6.7%, with a compound annual growth rate of -2.3%. The highest export volume was recorded in 2018 at 104.6 thousand tonnes, which also saw the largest increase of 5.5%. The largest decline occurred in 2019, with a drop of 7.2%.

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

Throughout the period from 2017 to 2020, the partner structure for banana exports in kind was heavily centered on Portugal, which accounted for 89.0% of total flows. Other markets formed a less significant portion of the export landscape.

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

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

Exports in value, M $ US

Banana exports from Spain have declined for the second consecutive year. In 2020, Spain exported 71.4 million US dollars worth of bananas, corresponding to a slight drop of 1.6% compared to 2019. Over the period from 2017 to 2020, exports decreased by 4.9%, with a compound annual growth rate of -1.7%. The highest value was recorded in 2018 at 78.8 million US dollars, which also saw the largest increase of 4.9%. The largest decline occurred in 2019, with a decrease of 7.9%.

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

From 2017 to 2020, Portugal consistently accounted for 86.0% of total banana exports in value terms, indicating a high concentration on this market. The remaining share was distributed among other countries.

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

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

Imports bananas to Spain

Imports in kind, K t

Imported banana volumes in Spain have declined for the second consecutive year. In 2020, imports reached 324.4 thousand tonnes, indicating a significant reduction of 10.2% compared to 2019. Over the period from 2017 to 2020, imports increased by 5%, with a compound annual growth rate of 1.6%. The highest import volume was recorded in 2018 at 365.7 thousand tonnes, which also saw the largest increase of 18.3%.

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

From 2017 to 2020, Costa Rica (34.7% of imports in kind), Colombia (18.6% of imports in kind), and Côte d'Ivoire (18.0% of imports in kind) led the structure of banana imports in kind. Together, these three countries represented 71.3% of total import flows.

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

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

Imports in value, M $ US

Spain's volume of banana imports has declined for the second consecutive year. In 2020, imports amounted to 204.5 million US dollars, equivalent to a modest reduction of 8.1% compared to 2019. Between 2017 and 2020, imports increased by 11.8%, equating to an annualized rate of 3.8%. The highest value was recorded in 2018 at 225.7 million US dollars, which also saw the largest increase of 23.4%.

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

From 2017 to 2020, Costa Rica (33.1% of imports in value terms), Côte d'Ivoire (21.3% of imports in value terms), and Colombia (17.9% of imports in value terms) led the structure of banana imports in value terms. Collectively, these three countries accounted for 72.3% of total import flows.

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

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