Ecuador sees surge in banana exports to South Korea

South Korea was the fastest growing market for exports of Ecuadorean bananas in the first half of 2024, according to the latest trade data shared by industry associations Aebe and Acorbanec. Shipments to the Asian country grew 271 per cent to 2.2m boxes between January and June of this year compared to the year-earlier period, as exporters were able to take advantage of the elimination of tariffs – which came into effect in January – and production problems in the Philippines. In all, Ecuador shipped almost 189m boxes in the first half of the year, around 1 per cent fewer than in the same period of 2023. In January, the South Korean government to the decision to scrap tariffs on 28 fruits and vegetables, among them Ecuadorean bananas, for a six-month period as a deflationary measure. During that time, production in the Philippines – Korea’s main supplier – decreased due the impact of Panama Disease TR4 and Sigatoka. Richard Salazar, executive director of Acorbanec, said he ...