High spot price Ecuadorian banana in the first quarter

Published 2023년 5월 2일

Tridge summary

In the first quarter of 2023, Ecuador saw a 4.57% increase in banana exports compared to the same period in 2022, totaling 99.86 million cartons. The European Union remained the largest market, receiving 31.88% of these exports. However, exports to several countries, including the Middle East, East Asia, Eastern Europe (particularly Ukraine due to conflict with Russia), EFTA, and Canada, experienced significant decreases. Russia emerged as the second-largest market with 23.53% of the share. Notably, the selling price in Ecuador was set at $6.50 per carton, but the spot price in certain regions like Los Ríos, Guayas, and El Oro reached as high as $13.25, more than doubling the minimum price.

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

Original content

In the first three months of 2023, Ecuador exported 99.86 million cartons of bananas. That is 4.57% more than in the same period of 2022, but considerably less than the 103 million cartons in 2021, reports the association of banana exporters Acorbanec. Of those 99.86 million cartons, 31.88% went to the European Union, the most important market in that period, 23.53% to Russia, 12.54% to the Middle East, 10.26% to the United States, 6.22% to the Southern Cone, 4.53% to Africa, 4.31% to East Asia, 2.76% to Central Asia, 1.44% to Eastern Europe, 1.28% to the United Kingdom , 0.80% to Oceania (New Zealand), 0.37% to EVA (Norway), 0.01% to Canada and 0.07% to other markets. 25.15% more bananas were shipped to the European Union than in the first quarter of last year, to Russia 10.62% more, to the United States 10.98% more, to the United Kingdom 30.64% more, to Central Asia 13.23% more and to Oceania 9.02% more. 19.53% less bananas were sent to the Middle East, 14.65% less to East Asia, ...

Source: AGF