Increasing Prices of Ecuadorian Bananas in W39 Due to a 9% Drop in Supply

Spot prices for Ecuadorian bananas started on Monday at W39 at USD 11 and moved to USD 12.25 by Friday for an 18.14 kg box. Demand for bananas remains high while an exportable offer has reduced by 9% compared to 2021 due to cold weather and a lack of investment in plantations due to the worsening economic crisis from the Russia-Ukraine war. Prices are expected to stay high until the end of the year, especially in W40, since most banana exporters will be busy at the Fruit Attraction Fair in Madrid in preparation for 2023.