Price Increase for Ecuadorian Bananas During W5, Due to Low Inventory of Quality Bananas

In W5, Ecuadorian spot banana prices decreased at the start of the week with farmgate prices of USD 11/18.14kg box. On February 1st, prices increased to USD 13.85/13.5kg box and USD 17.85/18.14kg box, all FOB. The price increase corresponds to a continuous low inventory of high-quality bananas. The supply is expected to remain low until W9-10. Despite there are three vessels with a capacity of 360K boxes expected to arrive in the Russian market in W6, the high demand will still cause prices to rise as the supply will still not be enough.