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A large percentage of the world's banana production is located in South America, considering that many Latin American countries are the world's leading banana-producing economies.
And they are the world's leading banana-producing economy, not only because of their share of world trade, but also because of their greater responsiveness to changing market conditions compared to other regions.
In its forecasts of the evolution of world banana trade, the Food and Agriculture Organization of the United Nations (FAO) has recently used export supply equations for Latin American countries that included relatively high own-price elasticities compared to other regions.
In its forecasts of the evolution of world banana trade, the Food and Agriculture Organization of the United Nations (FAO) has recently used export supply equations for Latin American countries that included relatively high own-price elasticities compared to other regions.
The phenomenon of supply growth based on productivity growth has been observed throughout the history of the world banana economy , source (FAOSTAT), so agricultural commodity prices are an indicator of changes in supply and demand and, as such, may reveal unusual conditions to which attention needs to be paid.