Banana imports to the Russian Federation can be increased from India, Guatemala, the Philippines and Colombia

Fresh Banana

Fruits

Russia

Market & Price Trends

Published Mar 19, 2024

Tridge summary

Dmitry Leonov, Deputy Chairman of the Rusprodsoyuz Association, suggests that Russia could increase its banana supply from countries like India, Guatemala, the Philippines, Colombia, and Costa Rica. The cost of these bananas would be influenced by factors such as the exchange rate, logistics, and supply-demand balance. This comes as potential supply issues and the discovery of the humpback fly in Ecuadorian bananas, which account for over 95% of Russia's imports, have prompted the exploration of other sources. Bananas are among the top 3 most popular fruits in Russia, particularly in the winter season.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The supply of bananas to Russia can be increased from India, Guatemala, the Philippines, Colombia and Costa Rica, but their cost will depend on the exchange rate. Deputy Chairman of the Board of the Rusprodsoyuz Association Dmitry Leonov told TASS about this. “It is possible to increase the import of bananas to Russia from India, Guatemala, the Philippines, Colombia, Costa Rica and other countries. The cost of bananas, like other fruits that Russia imports, is tied to the exchange rate of world currencies: the dynamics of prices for supplies from other countries will depend on the dynamics of the exchange rate," Leonov said. He also noted that the cost will also be affected by logistics, which accounts for a significant share of the cost, as well as the balance of supply and demand. Leonov also said that for many years the key supplier of bananas to Russia has been Ecuador, which accounts for more than 95% of all imports. “The expansion of the geography of supplies may be ...

Source: Kvedomosti