Banana export from Ecuador decreased by 6.5%, 24.9 million fewer cartons shipped

Published Jan 26, 2023

Tridge summary

Ecuador, the world's leading banana exporter, suffered a significant setback in 2022, with exports dropping by 6.5% and leading to losses exceeding €236 million. This decline was attributed to the repercussions of the Russia-Ukraine conflict, internal strikes, and the dollar's appreciation against the euro. The top three markets for Ecuadorian bananas, the European Union, Russia, and the Middle East, experienced substantial falls in imports, particularly the EU, which witnessed a 9.1% decrease. The war in Ukraine alone is estimated to have caused a loss of about 3.5 million cartons of bananas. Additionally, cooler weather in Ecuador and increased costs such as carton prices, freight, and fertilizers further impacted the exports, leading to a total estimated loss of nearly 9.7 million cartons for the year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Ecuador, the world leader in banana exports, had a year to forget with an estimated loss of more than €236 million and a 6.5% drop in exports from January to December 2022. This large drop is mainly due to the Russian war in Ukraine, internal strikes and the appreciation of the dollar against the euro. According to José Antonio Hidalgo of the Association of Ecuadorian Banana Exporters (Aebe), the past year started with many problems affecting their exports. Until December 2022, cumulative exports amounted to 354.6 million cartons of bananas, compared to 379.5 million cartons in 2021. The top three export markets are the European Union in first place with 26.3%, Russia with 23.43% and the Middle East with 15.2%. These three regions account for 65% of the Ecuadorian banana supply. Exports to the European Union fell by 9.1%. According to the Aebe report, Ecuador has a preliminary shipment of 83 million cartons to Russia from January to December 2022. This level is 2.9 million cartons ...

Source: AGF