Ecuadorian Banana Prices Decrease During W31

During W31, the spot market prices for Ecuadorian bananas started high with a price reference of USD 7 per 18.14-kilogram box but decreased to USD 6.25/18.14kg box on August 2, 2022. The temperature in Ecuador increased over the past few weeks, influencing the surge in production. The Free on Truck (FOT) prices of Ecuadorian bananas in the United States (US) market also decreased from USD 22/18.14kg box in W29 to USD 17/18.14kg box in W31.

Ecuadorian producers and exporters forecast a banana price increase in Sep-22 as the European Union (EU), the US, and Russia initiate their winter orders. Prices are forecasted to reach USD 10/18.14kg banana box.