Bananas market in Trinidad and Tobago

Earlier Report Observations

The market for fresh or dried bananas in Trinidad and Tobago grew to 15 034 tons in 2019, an increase of over 8% from the previous year. This was followed by a multi-year decline, with volume falling to 14 556 tons in 2021 and 13 857 tons in 2022, primarily due to a contraction in import volumes. By 2023, the market stabilized at 13 773 tons, a slight decrease of less than 1% from 2022.

During this period of stabilization in 2023, new local banana farming estates emerged, such as the operation in Tabaquite which harvested its first large bunch early in the year. This development indicated ongoing investment and activity in domestic production, even as the total market volume held steady.

Looking at 2024, regional trade dynamics shifted as St. Lucia began exporting bananas to Trinidad and Tobago following a suspension of its UK trade. Furthermore, Fairtrade implemented a global 24-month suspension on certifying new fresh banana producers starting in April 2024, a regulatory change that could influence market structure for participants in such schemes.

Production bananas in Trinidad and Tobago

In kind, 2017-2020, t

Top producers of bananas, 2017-2020

World map of production of bananas, 2017-2020

In Trinidad and Tobago, banana production reached 3,411 tonnes in 2019, marking the highest level during the observed period. However, output declined slightly to 3,370 tonnes in 2020, representing a 1.2% decrease from the previous year. The lowest production was recorded in 2018 at 3,295 tonnes. The most significant drop occurred in 2018 with a 3.4% decline, while the largest increase was seen in 2019 with a 3.5% rise.

Annual dynamics of production in Trinidad and Tobago in kind, 2017-2020, t

In value, 2017-2020, K $ US

Banana production in Trinidad and Tobago showed a second consecutive year of growth in value terms. In 2020, the output was valued at $10,756 thousand US, reflecting a modest 2.4% improvement compared to 2019. However, looking at the broader period from 2017 to 2020, production value decreased by 10.6%, which translates to an annualized decline of 3.6%. The lowest value was recorded in 2018 at $10,065 thousand US, with the most substantial drop of 16.3% occurring that year. The largest increase was in 2019, with a 4.3% rise.

Annual dynamics of production in Trinidad and Tobago in value, 2017-2020, K $ US

Exports bananas from Trinidad and Tobago

Exports in kind, t

The export market for bananas from Trinidad and Tobago exhibited volatility over the observed period. The lowest export volume was recorded in 2017, while the highest was reached in 2019, showing a threefold difference between these years. In 2020, export volume totaled 6 tonnes, indicating a sharp decline of 59.0% compared to 2019. The peak value was 16 tonnes in 2019, which also saw the largest increase of 133.7%.

Annual dynamics of product's exports from Trinidad and Tobago in kind, 2017-2020, t

From 2017 to 2020, the main destinations for banana exports from Trinidad and Tobago in volume terms were Bunkers (50.5% of exports), the United States (21.0%), and Guyana (11.0%). Together, these three markets accounted for 82.5% of total export flows.

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

World map of product's exports from Trinidad and Tobago in kind, 2017-2020

Exports in value, K $ US

Export data reveals irregular changes, pointing to a volatile market environment. The lowest value was recorded in 2017, while the peak occurred in 2019, with a 2.6-fold difference between these years. In 2020, banana exports from Trinidad and Tobago were valued at $20 thousand US, representing a contraction of 57.5% compared to the previous year. The maximum value was $48 thousand US in 2019, which also experienced the largest increase of 135.5%.

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

During the period from 2017 to 2020, the leading destinations for banana exports from Trinidad and Tobago in value terms were Bunkers (51.3% of exports), the United States (17.5%), and Germany (9.9%). Collectively, these three markets accounted for 78.8% of total export flows.

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

World map of product's exports from Trinidad and Tobago in value, 2017-2020

Imports bananas to Trinidad and Tobago

Imports in kind, t

After two years of growth, banana imports into Trinidad and Tobago declined in 2020. The country imported 11,491 tonnes of bananas that year, representing a 1.3% decrease compared to 2019. Over the broader period from 2017 to 2020, imports increased by 18%, with a compound annual growth rate of 5.7%. The highest volume was recorded in 2019 at 11,638 tonnes, which also saw the largest increase of 9.9%.

Annual dynamics of product's imports to Trinidad and Tobago in kind, 2017-2020, t

From 2017 to 2020, the Dominican Republic and Suriname were the primary sources for banana imports into Trinidad and Tobago in volume terms, jointly accounting for 90.8% of total import flows. Other partners contributed the remaining share.

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

World map of product's imports to Trinidad and Tobago in kind, 2017-2020

Imports in value, K $ US

In 2020, the value of banana imports into Trinidad and Tobago was recorded at $7,035 thousand US, equivalent to a gradual gain of 9.6% over the previous year. However, between 2017 and 2020, import value decreased by 2.7%, translating to an annualized decline of 0.9%. The lowest value was $6,417 thousand US in 2019, which experienced the largest decline of 11.5%. The peak was in 2018 at $7,250 thousand US.

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

Throughout the period from 2017 to 2020, the Dominican Republic and Suriname concentrated 91.1% of total banana imports into Trinidad and Tobago in value terms. The remaining share was distributed among other destinations with smaller individual contributions.

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

World map of product's imports to Trinidad and Tobago in value, 2017-2020