Price Drop for Ecuadorian Bananas in W46 Due to Vessel Delay

In W46, the price for Ecuadorian spot bananas has decreased to a reference price of USD 11.25 FOB for a 13.5kg box and USD 14.1 FOB for an 18.14 kg box. The price drop is due to the delay of an empty vessel set to buy bananas from Ecuador and shipped to the Russian Market, expected to arrive on November 20th. However, the fruit is harvested weekly causing an extra supply and lowering the price.
The price for W48-W52 is forecasted to decrease due to Russia reducing demand for overstock and the holidays, providing more accessible prices for other markets, and helping close deals for programs in 2023.