Challenges Affecting Ecuador's Banana Exports in Jan-24 and Feb-24

Ecuador's banana exports from Jan-24 to Feb-24 declined due to various factors. Congestion in the Panama Canal has impacted shipments to key markets like the United States (US). Meanwhile, decreased demand in the European Union (EU) and Russia, which collectively account for 60% of Ecuador's exports, has further contributed to the downturn. Inflation and high prices in the EU have reduced consumption, while Russia's phytosanitary challenges and adverse weather conditions have affected production. Additionally, attacks on cargo ships in the Red Sea have disrupted exports to the Middle East, causing delays and market saturation.