All We Could Possibly Want To Know About Bananas

Recently, bananas have been in my email news from Axios. While they focused on price, there are other facts we need to know–like the $6 million banana.

Let’s take a look.

Six Banana Facts

1. Banana prices are climbing.

Banana prices were up to 66 cents a pound during May 2025. At 3.3%, the pop in price exceeded the rate of inflation:

2. And they might continue rising.

Because of their home country, most bananas will be (have been?) subject to a 10% tariff:

3. Bananas are the most popular fresh fruit:

Annually, many of us consume close to 13 pounds of bananas a year:

4. However, among our banana lovers, we cannot include Gen X:

According to a YouGov survey, whereas bananas are #2 in popularity for all adults, Gen X ranks them at #7:

5. A fungal disease could eradicate our banana population.

Called the Cavendish, the bananas most of us consume survived a fungus that eliminated a more tasty banana called the Gros Michel. Now though, a fungus could eradicate the Cavendish. Because they are genetically identical, anything that kills one can kill them all.

As you might expect, scientists are racing to save the Cavendish. They are continuing to limit the TR4 fungus’s spread and hope gene editing is a solution. Recently approved in New Zealand, a genetically modified disease resistant version (QCAV-4) of the Cavendish could begin its commercial life. Or maybe, we will just get a new kind of banana.

You can see that Ecuador, the world’s largest banana exporter, is located near Colombia, Peru, and Venezuela, the three South American countries where Trace 4 has been sited:

6. What could a banana cost?

Maybe $10 according to Arrested Development:

Or $6 million?

Our Bottom Line: Comparative Advantage

The world’s gargantuan banana production mostly goes to the U.S. (#1), and then Germany, China, Japan, and the Netherlands:

The split between banana importers and growers perfectly displays David Ricardo’s (1772-1823) law of comparative advantage. As Ricardo explained, when each nation produced all that it sacrifices the least for, then the world becomes more productive. Florida would have to sacrifice oranges if it grew bananas and it might not be the optimal place. By contrast, Guatemala sacrifices a less desirable alternative to grow its bananas.

For these reasons, the Banana Association of North American points out that bringing production to the United States–the ostensible purpose of the Trump tariffs–makes no sense for the banana. Consequently, banana importers are trying to avoid the potential $250 million cost of a 10% banana tariff.

My sources and more: Thanks to Emily Peck at Axios for reminding me that it was time to return to banana facts. Then, we learned more from The Packer, the US International Trade Commission, and the USDA. And finally, Dole had some comforting words about the survival of the Cavendish.

Please note that banana consumption facts from the USDA and elsewhere were different. The USDA said we eat 13.2 pounds a year while other sources said 26 pounds. From there it became more perplexing. All said we eat approximately 90 bananas a year. But they weigh close to 18 kg or 39.7 pounds. I have not weighed the bananas I have at home to confirm any of this.