Banana price trends in Eastern Europe and Central Asia

Published Feb 2, 2023

Tridge summary

Banana prices in Eastern Europe and Central Asia have experienced significant increases due to Russia's invasion of Ukraine and the resulting blockade of Ukraine's seaports. This has forced countries like Ukraine and Moldova to import bananas from the EU by truck, significantly increasing costs. In Ukraine, banana prices have risen 2.4 times in local currency and 76% in US dollars year-on-year. Meanwhile, in Poland, banana prices have risen due to a drop in Ecuador's banana harvest and increased logistics costs from Russian aggression. However, in Tajikistan, Uzbekistan, and Georgia, banana prices are at their lowest due to improved logistics solutions and direct imports by retailers.

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

Original content

At the end of January 2023, banana prices rose more yoy than those of most other fruits in Poland, Ukraine, Uzbekistan, Moldova, Georgia and Tajikistan, according to analysts at the EastFruit news service. The price increase in Eastern Europe is much stronger than in Central Asia, where bananas are traditionally much more expensive. The main reason for the price increases in Eastern Europe, mainly in Ukraine and Moldova, is Russia's armed invasion of Ukraine, leading to the blockade of Ukraine's seaports. This automatically prevents the possibility of importing bananas by sea, which is the most economical way. Russia's seaport blockade mainly affects two countries: Ukraine and Moldova. As a result, both Ukraine and Moldova have to import bananas from EU countries by truck, which significantly increases costs. At the end of January 2022, Ukraine had the lowest wholesale prices for bananas. A year later, banana prices in Ukraine are 2.4 times higher in local currency and the price ...

Source: AGF