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India Gains Market Access to Canada for Banana Exports

After gaining authorization from the Canadian government, India is ready to export bananas to Canada. India will also export baby corn to Canada in addition to bananas. The clearance will assist Indian farmers of these commodities immediately, as well as improve India’s export profits.

The decision implies that Canada will have more access to both fresh and processed commodities. However, the access comes at a time when banana prices in Canada are low, following a worldwide market trend.

Quarterly Banana Exports from India to the Rest of the World

India is not only one of the world’s top banana exporters, but it is also one of the world’s top producers, accounting for roughly 25% of global output based on India customs export data.

Exporting bananas to Canada is a technique for increasing both the volume and value of exports. In 2021, India shipped US$131.3 million worth of bananas to the rest of the globe, according to our database. Banana shipments of $53.5 million left India in the first quarter of 2022. Visualize the value of India’s banana exports by quarter.

Quarter

Value in USD ($)

Year

Quarter-1

$27.5 Million

2021

Quarter-2

$43.4 Million

2021

Quarter-3

$20.2 Million

2021

Quarter-4

$40.2 Million

2021

Quarter-1

$53.5 Million

2022

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Banana Export Development in India

Due to the development of the Covid-19 epidemic, banana output has decreased in key exporting countries of Latin America and Southeast Asia, increasing the demand for Indian bananas. In fact, in the last three years, India’s banana exports have nearly quadrupled.

According to India export data, banana export value increased by 33% YoY in 2020/21, hitting a new high of US$103.3 million, while export quantity increased by 18% YoY, reaching another new high of 212.8 million tonnes.

The adoption of global agriculture methods has resulted in a substantial increase in India’s banana exports. As a result, the price of Indian bananas has risen in recent years.

The average export price for Indian bananas has risen from US$ 0.20/kg in 2016 to US$ 0.50/kg in 2021, according to reports.

When India began exporting bananas to Canada in 2022, the price of Indian bananas increased significantly year over year.

According to India import-export data, the wholesale price of bananas in India grew by 55.92 percent year over year in March 2022, to US$ 0.59/kg. Unseasonal rain-affected manufacturing, resulting in a short supply.

As a result, Indian banana prices skyrocketed in March 2022, staying over US$ 0.60/kg until April 2022.

Banana Imports to Canada from Around the World 2021

Fresh banana imports into Canada have climbed somewhat in recent years, indicating sustained market demand. Canada imported bananas worth $458 million in 2021.

Guatemala is the leading importer of fresh bananas into Canada, accounting for 42.3 percent of total imports, followed by Costa Rica (18%), Colombia (13%), and Ecuador (13%). Using data visualization, examine Canada’s global banana imports in 2021.

Country

Value in USD ($)

Value in US %

Year

United States

$1 Million

0.2%

2021

Uganda

$1 Million

0.3%

2021

Mexico

$20 Million

4.5%

2021

Guatemala

$194 Million

42.3%

2021

Peru

$6 Million

1.3%

2021

Costa Rica

$82 Million

18%

2021

Panama

$6 Million

1.5%

2021

Honduras

$22 Million

5%

2021

Colombia

$62 Million

13.6%

2021

Ecuador

$59 Million

13%

2021

Exports o Indian bananas by destination country in 2021

As per Indian customs export trade data, bananas have begun to find a market mostly in the Middle East, with Iran accounting for 31.8 percent of exports in 2021, followed by the United Arab Emirates with 20.2 percent. Export data for bananas from India by the destination country is visualized.

Country

Value in USD ($)

Value in US %

Year

UAE

$30.1 Million

20.2%

2021

Oman

$13.2 Million

8.8%

2021

Saudi Arabia

$6.1 Million

4.1%

2021

Qatar

$4.5 Million

3.0%

2021

Iran

$47.5 Million

31.8%

2021

Iraq

$14.1 Million

9.5%

2021

Afghanistan

$12.9 Million

8.6%

2021

Kuwait

$2.3 Million

1.5%

2021

Uzbekistan

$2.9 Million

1.9%

2021

Nepal

$8.2 Million

5.5%

2021

After Canada authorized the purchase of Indian bananas, India’s exports will expand. Fresh orders from Canada would boost banana exporters in India’s company. Learn more about the Indian banana export market by looking up key information online.

Click here to find out more about our services and the benefits of our customs trade data.

Some of the major countries on which we offer import-export trade data

India import data                                                                                           India export data

Vietnam import data                                                                              Vietnam export data

Indonesia import data                                                                        Indonesia export data

Turkey import data                                                                                     Turkey export data

Bangladesh import data                                                                  Bangladesh export data

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