Ecuador
The Price of Ecuadorian Bananas Continues to Increase in W3 (Jan 20)
In W3, Ecuadorian spot banana prices continued to increase from USD 10.7/13.5kg box and USD 13.35/18.14kg box to USD 11.45/13.5kg box and 14.35/18.14 kg box, all FOB. The increase corresponds to an early shipment to the Russian market. Vessels usually take an amount of 360K 18.14kg banana boxes, thus putting some pressure on the prices since the banana inventory continues to be low in the Ecuadorian market until early April.
Costa Rica
Costa Rican Pineapple and Banana Exports Are Falling Due to High Costs (Jan 20)
The exports of bananas declined in 2022 due to uncertainty in the international market and high production costs. The banana sector has been affected by the war between Russia and Ukraine. From January through November, banana exports fell from USD 692.1M in 2021 to USD 672.5M in 2022 (the figures for April, May, and June are not included in the statistics due to a hack of the Treasury Department). Between 2021 and 2022, banana exports decreased by 145,000 tons, -8.86%.
Global
Global Banana Exports Fell in First Half of 2022 (Jan 19)
The Food and Agriculture Organization of the United Nations has released a report titled Banana Market Review - Preliminary results 2022, reporting that global banana exports continued to fall sharply in the first half of 2022, in stark contrast to the rapid growth in the 1980s before the pandemic.
Kazakhstan
In Kazakhstan, a Banana Has Risen in Price by Almost 50% Over the Year (Jan 22)
Kazakhstan has calculated the annual price increase for various fruits, such as bananas. The highest price increase for the year was for bananas, increasing by almost half the price by 46.2%. The average price in the Republic of Kazakhstan is USD 1.90/kg (KZT 878/kg). The city of Pavlodar has the lowest price at USD 1.56/kg (KZT 720/kg) and the highest in the city of Semey at USD 2.26/kg (KZT 1,043/kg).
