Over two months, banana supplies of Ecuador to Russia increased by 2.1%

Fresh Banana

Fruits

Ecuador

Market & Price Trends

Published Mar 19, 2024

Tridge summary

Banana imports to Russia have seen a 2.1% increase in the first two months of 2024, primarily sourced from Ecuador. However, Russian retailers are seeking to diversify their import sources to reduce reliance on Ecuador and to address potential supply disruptions due to seasonal, weather, and political factors. Countries like India, Costa Rica, Brazil, China, Korea, Egypt, and Thailand are being considered as additional suppliers. In 2023, X5 Group, a major Russian retail chain, led in banana imports, sourcing entirely from Ecuador.

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

In January - February 2024, banana supplies to Russia increased by 2.1% compared to the same period last year and amounted to 255.3 thousand tons, Rosselkhoznadzor said in a statement. The main supplies came from Ecuador - 249.6 thousand tons, 2 thousand tons were imported from China. In January - February 2023, 250 thousand tons of bananas were supplied from Ecuador, 39 tons from China. Chairman of the Presidium of the Association of Retail Trade Companies (AKORT), Igor Karavaev, quoted by TASS, noted that Russian retail chains are exploring the possibility of expanding the import of bananas from different countries in order to diversify sources of supply and reduce dependence on Ecuador. Karavaev also emphasized that Ecuador remains an important supplier of bananas on the Russian market due to the high quality of its products, their long shelf life and ability to withstand long-term transportation. “At the same time, retailers are exploring sourcing opportunities from different ...

Source: AgroInvestor