Colombian Banana Industry Thrives in 2023, Stresses Need for Higher Prices to Cover Production Costs and Urges Global Collaboration to Address Challenges
Fresh Banana
Colombia
South Korea
Market & Price Trends
Thao Nguyen
Published Jan 12, 2024
The Colombian banana industry has recovered well in 2023, with increased exports to South Korea and Europe. The President of the Colombian Banana Growers Association (Augura) emphasizes the need for higher banana prices to cover high production and certification costs. The industry advocates for global cooperation and support to collectively address shared responsibilities in the value chain, combat Fusarium disease, and tackle the challenges of climate change. Despite potential disruptions in other global trade routes due to delays in the Panama Canal, the Colombian banana market remains resilient. This resilience is due to its predominant reliance on the Atlantic route, ensuring minimal impact on its export operations, particularly those targeting Europe and the United States.
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