Global Market Report: Banana prices and sustainability

The report examines the role of voluntary sustainability standards (VSS) in the global banana industry, noting that while VSS-compliant bananas grew significantly between 2008 and 2019, growth is now slowing. VSS-compliant producers can earn 60% to 100% more than conventional producers, but they struggle against artificially low conventional prices. The industry faces threats from climate change, pests like Tropical Race 4, and economic disruptions. The report argues that the costs of sustainable production must be shared across the supply chain, involving retailers, governments, and regional networks.

• VSS-compliant bananas accounted for at least 9% of global production in 2019, following a compound annual growth rate of 32%–35% from 2008 to 2019, though this growth is currently slowing.
• Producers in major exporting countries associated with at least one VSS can achieve prices between 60% and 100% higher than those selling conventional bananas, although they face competition from conventional bananas kept at artificially low prices.
• Banana supply chains are vulnerable to economic disruptions, such as the Russia-Ukraine conflict, the COVID-19 pandemic, and fossil fuel price variations, with producers bearing the most impact from market disruptions and rising input costs.
• Environmental risks include climate change and a lack of genetic diversity, which increases susceptibility to pests and diseases, specifically the deadly soil fungus Tropical Race 4.
• Voluntary sustainability standards—including Organic, Fairtrade International, the Rainforest Alliance, and GlobalG.A.P.—help build producer resilience through minimum prices, premiums, base wages, and soil preservation requirements to combat drought.

APA

Luna,, V. V. B. J. F. L. (2023). Global Market Report: Banana prices and sustainability. International Institute for Sustainable Development. https://www.iisd.org/publications/report/global-market-report-banana

Chicago

Luna,, Vivek Voora,Steffany Bermúdez,Johanna Joy Farrell,Cristina Larrea,Erika. Global Market Report: Banana prices and sustainability. International Institute for Sustainable Development, 2023. https://www.iisd.org/publications/report/global-market-report-banana.

Wikipedia

{{cite report |last1=Luna, |first1=Vivek Voora,Steffany Bermúdez,Johanna Joy Farrell,Cristina Larrea,Erika |title=Global Market Report: Banana prices and sustainability |publisher=International Institute for Sustainable Development |date=20 March 2023 |url=https://www.iisd.org/publications/report/global-market-report-banana |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{luna2023global, author = {Luna,, Vivek Voora,Steffany Bermúdez,Johanna Joy Farrell,Cristina Larrea,Erika}, title = {{Global Market Report: Banana prices and sustainability}}, institution = {International Institute for Sustainable Development}, year = {2023}, month = mar, url = {https://www.iisd.org/publications/report/global-market-report-banana}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }