Emerging Markets / July 30, 2018

Geographic Origins & Benefits of the Banana

Geographic Origins & Benefits of the Banana

Bananas are a type of edible berry from the Musa acuminata and Musa balbisiana strands that originated in the South Asia region that spans from India to Australia. Moreover, these genetic strands are fruit-yielding plants and not trees per se, which means that the plant’s stem is not a solid, wooden trunk. Today, the Musa acuminata has become the dominant genetic strand of this fruit, being the most cultivated and consumed globally.

Bananas, also known as Cavendish, are usually peeled and consumed. The creamy flesh inside of the banana has numerous nutritional and health benefits to the point that it is considered a natural super food. Firstly, bananas are rich in potassium and fiber as well as vitamins and can be consumed in a variety of ways. Likewise, bananas help lower blood pressure and contribute to cardiovascular health. Moreover, bananas help prevent chronic diseases such as asthma and diabetes as well as cancer. Currently, bananas are the second most consumed fruit worldwide, after tomatoes. For instance, in the United Kingdom, the average person eats 10 kilograms or about 100 bananas every year.

Another very popular cousin of the banana is the plantain, which also comes from the Musa genetic strand. Larger, usually darker in color, and bitter when raw, plantains are cultivated and consumed throughout Asia, Africa, and Latin America. In many of the countries throughout these regions, plantains are a food staple that is consumed regularly, be it fried, baked, or boiled.

Production & Trade

To this day, the world’s major producers of bananas are Asian countries. Most notably India and China are major banana producers, who together account for more than one-fifth of global production. However, these large producers are also major consumption markets, which means that most of the bananas harvested in China and India are sold and consumed in country. Simultaneously, the international banana trade had an annual value of US$12.7 billion during 2016, which makes bananas the 244th most traded product in the world.

International Supply & Demand

During 2016, Ecuador was the world’s largest exporter of bananas accounting for 25% or US$3.1 billion of the fruit’s global sales. That same year, the world’s second largest exporter of bananas was the Philippines representing 12% or US$1.6 billion of all sales and the third largest exporter was Costa Rica totaling 11% or US$1.4 billion. Lastly, Guatemala is the world’s fourth largest exporter with 8.5% of the fruit’s global sales; however, bananas are the Central American country’s single largest export at 9.3% of the national exports total during 2016.

On the demand side, during 2016, the United States was the world’s largest importer of bananas, purchasing 19% or US$2.4 billion of global sales. Meanwhile, Germany was the second largest banana importer accounting for 8.7% or US$1.1 billion in 2016. However, on a continental basis, Europe accounted for a staggering 54% or US$6.9 billion of global banana imports.

Whether as a power snack or in more complex cooked dishes, eating bananas regularly is a win for both your personal health and for global agribusiness!

(Read more about European Agribusiness and International Trade)