Ecuador: "Inability to fulfill contracts due to banana shortage"

(Agraria.pe) Banana production in Ecuador is going through a complicated stage, influenced by adverse weather conditions, low supply, and unusually high prices. The winter brought torrential rains, and now the cold and low heliophany (sunlight) are affecting the normal development of the fruit, explains Jorge Álex Serrano, general manager of Jasafrut. "Bananas need direct sunlight. These days have been completely cloudy, which has drastically reduced production. We are seeing drops of between 35% and 45% in some farms," comments Serrano. "Although consumption in markets like Europe and Russia usually decreases in summer, the spot price has reached atypical levels. We had prices of up to 16-17 dollars FOB a few weeks ago. Today it has dropped, but it remains between 11 and 12 dollars, which is still high for this time of year," he notes. The situation is aggravated by the inability to meet contracted volumes due to the scarcity of fruit. Added to this is the definitive closure of ...