Peruvian fresh banana exports reached 125,090 tons valued at US$96 million between January and October 2023
Market & Price Trends
Published Nov 27, 2023
The banana industry in Peru has been facing challenges due to climate change, low demand, and low prices. The country has been experiencing low yields and struggles with meeting international quality standards. Despite a slight improvement in prices, Peruvian banana production still faces uncertainty, and the future will depend on commercial decisions made by exporters.
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.
Peru has not been the exception. The low prices presented a couple of years ago caused many investors to withdraw from the business. Yields reached historic lows and on many occasions subsistence levels. And although this was improving with the progressive stabilization of the price, the El Niño phenomenon soon came to stop the little relief. Key production areas, such as the Chira valley, in Piura, suffered severely from the intense rains at the beginning of the year. In addition, the spread of pests was the order of the day, causing much less fruit to meet international quality standards. This, added to the low prices presented by the world market, caused producers to prefer to allocate up to 15% more of the stock to the domestic market and not export it. Today the future of bananas in Peru is uncertain. Although there is some differentiation from what is produced by large neighboring producers such as Ecuador (which usually focus on traditional bananas and not organic ones), ...