The planted area for banana in Malaysia has shown fluctuations over the past decade. It stood at 28.2 thousand hectares in 2023. Various year-on-year variations indicate significant trends: a peak increase in 2017 (+24.64%) and a notable decline in 2019 (-14.43%). Recent years (2022 and 2023) have seen minor declines of 0.7% and 0.35%, respectively. The CAGR from 2018 to 2023 was -1.56%, highlighting a gradual decline over five years.
Future forecasts suggest further decrease, with the planted area expected to reduce to 27.6 thousand hectares by 2028. The forecasted five-year CAGR from 2024 to 2028 is -0.36%, indicating a slight but consistent downward trend.
Future trends to watch for:
- Changes in agricultural policies or subsidies targeting banana plantations.
- Market demand dynamics influenced by both domestic consumption and export opportunities.
- Technological advancements that might improve yield or change land utilization for banana farming.
