Banana Powder Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Banana Powder in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Banana Powder Price Trend for the Second Half of 2023

Dried and ground bananas are used to make banana powder, which in turn drives its price trend. Its main use in the food and beverage industry is as a natural flavoring agent in food production, such as smoothies, desserts, and baked goods. Due to its high nutritional value, it is also used in baby foods, nutritional supplements, and animal feed.

Banana Powder Price Chart

Banana Powder Price Trends

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The price of bananas surged continuously in the Indian markets during the H2 of 2023. The incline in the prices was only mild during the third quarter, but with the advent of the holiday season, the price trend inclined several folds in the fourth, surpassing ?100 per kilogram, as the harvest season concluded and demand spiked. The traders attributed the price hike to reduced supply, transportation variations, and quality issues.

Despite a 70% decrease in arrivals at wholesale markets compared to last year, demand remained high, particularly in the old Mysuru region and parts of Tamil Nadu. In view of rising consumer demand, the merchants started withholding the stock for festivals, further straining supply chains. Consecutively, the production of banana powder in Asian countries also became restrained, leading to an inclination in its price trend.

Analyst Insight

According to Procurement Resource, the price trend of Banana Powder is expected to incline further in the near quarters as the high tick will be supported by the constrained supply of raw materials and increasing interest of the consumers.

Banana Powder Price Trend for the First Half of 2023

Banana Powder is made from dried bananas, so the prices also depend greatly on the banana prices. And along with that, the downstream demands from the cosmetic industry also influence the market trend. During the first half of the year 2023, banana prices surged sharply. Several factors contributed to it, the primary one being lesser cultivation.

The market had tremendously downsized during the pandemic times, causing massive losses to banana farmers, because of which they pivoted to other crops to save their investments. But in 2023, not just the domestic demands heightened, but exports also boomed, shooting up the banana and its allied products, including banana powder prices. Overall, the market performed very well throughout the said time period.

Analyst Insight

According to Procurement Resource, the price trend for Banana Powder is likely to maintain its positive momentum as the supplies are constricted amidst heavy demands.

Banana Powder Price Trend for the Second Half of 2022

Given the successive exceptional events in the past two years, the world economy is deeply impacted causing the prices to reach astounding levels. The runaway inflation had a strong impact on agriculture, especially the banana sector. The production costs have increased around 30-40 times in the past two years which affected the banana producers drastically. However, the price rise was not transferred to the consumers as the producers feared demand destruction owing to low consumption levels.

Nonetheless, the banana prices were higher compared to the previous values as the producers and farmers were not immune to the rising prices. In Ukraine, the prices rose around 2.4 times in local currency since January’22. In terms of the US dollar, banana prices increased by 76% in a year- the highest of all the countries in the European region.

The negative impact on the profitability of the farmers/growers due to an increase in production costs and stagnant sales will make the activity unsustainable. Hence, all these problems looming over the banana sector affected the price trend for banana powder.

Analyst Insight

According to Procurement Resource, the price trend for Banana powder will likely remain volatile over the coming months. 2023 promises to be a challenging year for the banana industry. If the prices do not continue to rise, some of the market players will be forced out of the business.

Banana Powder Price Trend For the First Half of 2022

With the food prices rising at an alarming level, FAO warned that disruptions to the agricultural activities in Russia and Ukraine, one of the major exporters of staple commodities, could escalate food insecurity globally. This is evident from the escalated prices of bananas globally.

The banana prices went from 1162.19 USD/MT in January to around 1440.23 USD/MT in June 2022. In the Indian domestic market, the prices of various banana species crossed the 100 mark. The Singaporean variety was priced at 96-120 INR/kg, and the Martaman variety averaged 144 INR/kg.

These surging prices resulted due to rising inflation, high production and transportation costs and the delayed onset of the production cycle owing to fluctuating weather conditions. Since the banana powder is formed using the banana pulp, the inflated prices of feedstock bananas caused the prices of banana powder to surge globally. Hence, the price trend of banana powder remained strong throughout the first half of the said year.

Procurement Resource provides latest prices of Banana Powder. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

Banana powder is made from fully matured banana fruits by either drum drying or spray drying. Processing bananas into banana powder extends their shelf life to more than 6 months, makes transportation easier, and allows proper banana utilisation.

Product Details

Report Features Details
Product Name Banana Powder
HS Code 08039010
Industrial Uses Cosmetic industry
Supplier Database Chiquita Brands International Sàrl, Fresh Del Monte Produce Inc., Dole Food Company, Inc, Fyffes plc, Grupo Noboa S.A.
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes 
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

  • Production of Banana Powder from Drying Process

Banana powder is made from banana pulp, which is cut into pieces and fed into a hydraulic shear with the assistance of a colloid mill to create a paste. Sodium metabisulfite is used to produce the paste a bright yellow colour. The paste is dried with the goal of producing banana powder.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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