In W21 in the banana landscape, the Banana Marketing and Export Association of Ecuador (Acorbanec) reported that banana exports from January to April 2023 reached 132.47M boxes, a 4.46% increase compared to the same period in 2022. The main destinations were the European Union (31.06%), Russia (23.43%), the Middle East (13.44%), and the United States (9.48%). However, the union of banana producers of Peru denounced that for eight weeks, producers were paid USD 3 per box of bananas when the legal price is set at USD 6.50. The Ministry of Agriculture has reported that it is carrying out actions to enforce the law. Ecuador's anticipation of reaping the benefits of a free trade agreement (FTA) with China has been delayed. The President of Ecuador dissolved the National Assembly and brought forward elections, temporarily halting the ratification of the FTA, which was signed on May 10, 2023. The agreement aims to gradually reduce tariffs on bananas from 10% to 0% over a 10-year period.
On the other hand, researchers are utilizing new gene editing techniques to develop TR4-resistant bananas. At the International Banana Congress in Miami, United States, two approaches were presented, the first approach involves gene editing to accelerate the conventional breeding process, while the other aims to create a genetically modified Cavendish banana that can withstand the disease. A Netherlands-based plant research company is leveraging gene editing tools to expedite the process of banana breeding. Initial results show partial resistance to both TR4 and Black Sigatoka. In the Birmingham and London wholesale markets of the United Kingdom, bananas from Belize stood at an average of USD 1.32/kg (EUR 1.06/kg), similar to bananas from Colombia at USD 1.32/kg (EUR 1.06/kg), and bananas from Costa Rica had a 2% WoW drop to USD 1.30/kg (1.05/kg). Angola is the largest African producer of bananas, and the seventh largest producer worldwide, with an annual production of over 4M tons since 2014. The FAO (Food and Agriculture Organization) Angola places ahead of Rwanda, Tanzania, Kenya, Egypt, Burundi, Cameroon, Sudan, and Ethiopia. Lastly, since the entry of Cambodian bananas into the Chinese market in May 2019, the export volume of bananas has increased, maintaining a positive trend. According to data from the Cambodian Ministry of Agriculture, Forestry, and Fisheries, in Q1 2023, Cambodia exported 95.02K tons of fresh bananas, with 88.94K tons exported to China. China is the largest importer of Cambodian bananas, accounting for over 93% of the country's banana exports.
