UK and EU find themselves in a banana price war

The price of bananas in the United Kingdom has remained remarkably stable over the past three decades, and an unexpected twist in the form of Brexit could potentially cause banana prices to fall. As of now, a kilogram of bananas costs around 115 pence (equivalent to €1.32), which astonishingly matches the price back in 1990. In the United Kingdom, the banana market is predominantly controlled by Latin American “dollar bananas” producers. These Latin American exporters have been able to offer their products at competitive prices, largely thanks to the free trade agreements brokered by the European Union (EU), which significantly reduced import taxes. Currently, as part of their independent trade agreements with Andean countries such as Colombia, Ecuador, and Peru, the British government is conducting a thorough review of banana tariffs. This move has sparked a contentious debate within the industry, with Afruibana, the Pan-African association of banana producers and exporters, ...