Banana industry

In the past, multinational companies owned a large number of plantations in Central and South America and other banana-producing regions.

Fyffes used to own plantations in Jamaica, Belize and the Windward Islands, but withdrew from production and switched to purchasing its bananas through contracts with producers.

The disengagement from production was partly caused by legal and economic problems at the plantation level, but also reflects the change in market power along the banana value chain.

Other major producers were the Philippines, Ecuador, Indonesia, and Brazil, together accounting for 20% of the world total of bananas and plantains (table).

[11][12] OEC reports that the total value of banana trade in the period from 2020 to 2021 was $13.6 billion, despite a 2.51 percent decline in export growth.