Opportunity for Bananas in China

A drop in local production and the volatility of short-term contracts signed with the Philippines, its leading supplier, has created opportunities to export bananas to China.

Tuesday, September 2, 2014

From a statement issued by the Foreign Trade Promotion Office of Costa Rica (Procomer):

In the first 7 months of this year, Ecuadorian banana exports to China increased by 704.6%, going from $7.7 million in 2013 to $62.2 million in 2014. Among the main reasons for this growth are the typhoons that have hit major banana-growing regions in China, a situation that caused a rapid increase in local prices.

However, the drop in Chinese production is not the only reason for the popularity gained by Ecuadorian bananas, as another important factor is the adverse climate effect on the production of bananas in the Philippines.

More on this topic

Bananas: Exports to the Netherlands Up 38%

September 2018

In the first three months of the year, Central American countries registered $625 million in banana sales abroad, and exports to the Netherlands increased by 38% compared to the same period in 2017.

Figures from the information system on the Fresh or Dry Banana Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]

Central American Banana Trade Growing

February 2018

From January to September 2017, countries in the region exported $1.92 billion worth of bananas, 9% more than was sold abroad in the same period in 2016.

Figures from the Information System on the fresh or dried banana market in Central America compiled by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with the graphic"]

Market Share of Bananas from Costa Rica in Europe

October 2016

Costa Rica's share in the market for bananas imported by the European Union increased from 13.7% in 2009 to 15.2% in 2015.

The main reason behind the increase is the reduction of tariffs on bananas from Latin America, which fell from 176 euros per ton to 103 euros.  

Nicaragua: Banana Exports Up 14%

October 2016

Between January and September this year banana sales abroad generated $7.17 million, 14% more than in the same period in 2015.

From a report by the Association of Producers and Exporters of Nicaragua:

The value of Nicaraguan banana exports between January 1 and September 25, 2016 shows an increase of 14.4 percent compared to the same period in 2015. Statistics from the Center for Export Procedures (CETREX) show that in the period in question in 2016, the country has received 7.17 million from the sale of 17,412 tons of the product in the international market. While in the same period in 2015, the 17,453 tons sent only generated $6.27 million.

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