Spain: Canarian bananas return to historic price levels

Spain 06/10/2024 In just 3 months, Canarian bananas have returned to a price level that has not been seen since the eruption of the La Palma volcano at the end of 2021. Overproduction on the islands, drop in demand from external markets and strong competition from other producing countries. After a difficult period in 2023 and early 2024, where banana prices in the Canary Islands did not allow producers to cover their production costs, even with a subsidy of 0.30 euros per kilo, the situation began to deteriorate. improve significantly since the last week of March 2024. The Association of Banana Producers of the Canary Islands (Asprocan) reported a market withdrawal of 26.5 million kilos of fruit in 2023, the second highest figure ever recorded, in addition to the 34 million exported to Morocco, which gives rise to a record annual production of 467 million kilos. Of this amount, 388 million were sold in the peninsula, 44.2 million in the Canary Islands and only one million in the ...