Banana can be either consumed raw which is green in color or can be eaten as a fruit when ripe and attains yellow color. Banana consists of 75 percent of water and is a rich source of vitamins A, B6, and C, and potassium. Banana is a fruit that is produced the entire year round. One of the leading bananas producing country worldwide is India. Other countries that produce banana are Brazil, China, Ecuador, Philippines, Indonesia, Costa Rica, Mexico, Thailand, Colombia and Burundi. Almost ten to fifteen percent of global banana crops are exported.
The countries which are considered to leading importers of banana are European countries, which import around 29.2 percent; the U.S, which imports around 27.5 percent; Japan, which imports around 8.2 percent; Russia, which imports around 7.9 percent; and Canada, which imports around 3.5 percent.
If we see from the historical point of view, the importers of banana are somewhat combined in the areas such as European Union, the US and Japan. All these three countries jointly account for almost 70 percent of global average imports nearly every year.
It has been noticed in the past that due to the importance of various banana import command prevailing in the countries that import banana, the world trade for banana has an absolute regional characteristics. All this has lead to discrimination among various markets. Distribution timings and transportation costs also play an important role in the discrimination of the banana markets. This scenario has been, however, changing since the mid nineties.
The imports to the European Union actually originated from Spain, France, Greece and Portugal, and the ACP (African Caribbean and Pacific). All these countries possess referential access to the European Union. In the mid nineties, various modifications resulted in the banana dispute at the WTO (World Trade Organization).
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