Ecuadorian banana exports fell in January and February

(Agraria.pe) The beginning of this year has registered a notable reduction in Ecuadorian banana exports as Russia reduced its purchases by 25%. This decline in demand has raised alarm bells, especially considering that Russia and the European Union represent the two main markets for Ecuadorian bananas. The situation is worsened by the non-renewal of three out of ten contracts with the European Union by 2024, which means 2,100,000 boxes not purchased by Russia and 1,900,000 fewer boxes imported by Europe compared to 2023. Additionally, other important markets for Ecuadorian bananas, such as the Middle East and the United States, have also reduced their purchases by 1 million boxes between them during January and February. Richard Salazar, director of the Banana Marketing and Export Association, points out that this trend is partly due to the setting of a new price for the box of bananas last year, which caused a negative reaction in the Union markets. European and Russia. ...