1. Weekly News

Ecuador

Ecuador Strengthens Banana Exports with New Cold Storage Facility

Ecuador has significantly strengthened its banana export infrastructure with the launch of the Guayaquil Banana Gateway, the country's first on-dock cold storage facility at the Port of Guayaquil. Developed in collaboration with Cool Carriers, a leading provider of refrigerated shipping solutions, this state-of-the-art facility enhances cold chain management, ensuring the quality of bananas is preserved throughout transit. As the world's leading banana exporter, Ecuador aims to reinforce its global position by optimizing efficiency and minimizing delays in its export processes. This innovative development demonstrates Ecuador's strategic focus on improving fresh produce exports and solidifies its role as a key export hub in Latin America.

Honduras

Floods Severely Impacted Banana Production in Honduras

Banana production in Honduras has sharply declined due to recurring floods, reducing the cultivation area from 3.2 thousand hectares (ha) to approximately 700 ha. This number can potentially rise to 1 thousand ha if farm renovation funding is secured. Current yields range between 2.5 thousand and 2.8 thousand boxes per ha. This has coincided with a dramatic surge in banana prices on the domestic market, where the price has risen from USD 0.039 (HNL 1) for three bananas to USD 0.12 (HNL 3) per banana. The banana industry, which once covered 10 thousand ha nationally before Hurricane Mitch in 1998, now faces severe financial challenges, with remaining producers in regions like San Manuel, Pimienta, and Piletas struggling to secure vital government support to recover from this ongoing crisis.

India

Cold Weather Impacts Banana Production in Karnataka

In Karnataka, India’s third-largest banana-producing state, extreme cold this winter, with temperatures dropping below 12°C, has damaged over 25% of early-stage banana crops. Cultivating bananas on 108 thousand ha and producing 2.97 million metric tons (mmt) in 2023/24, Karnataka primarily grows varieties like Cavendish and Yalakki in regions such as Chikkamagaluru and Mysuru. The cold weather has led to discoloration and quality issues, negatively impacting exports and reducing local market prices. Cavendish banana prices have plunged from USD 22.50 to USD 13.75 per quintal over the past four months, significantly affecting farmers' incomes. To address cold susceptibility, farmers and officials are emphasizing the importance of micronutrient applications, such as zinc and boron, while calling for government support to stabilize prices and strengthen crop protection measures.

Kyrgyzstan

Kyrgyzstan's Banana Imports Surged in 2024

Between Jan-24 and Nov-24, Kyrgyzstan imported 33 thousand tons of bananas valued at USD 24.2 million, marking a notable increase from 25.7 thousand tons worth USD 16.8 million during the same period in 2023. Ecuador remained the primary supplier, delivering 29 thousand tons worth USD 20.87 million, a 30% year-on-year (YoY) rise, with an average price of USD 717/ton. Other suppliers included China with 2.1 thousand tons worth USD 1.39 million, Russia with 1.2 thousand tons, Kazakhstan with 421.8 tons, India with 64.2 tons, and Uzbekistan with 0.2 tons. This growth indicates Kyrgyzstan’s increasing demand for bananas and its expanding range of supply sources.

Russia

Russia's Krasnodar Region Sees Significant Surge in Banana Imports

In 2024, banana imports to Russia’s Krasnodar region surged to 224 tons, a dramatic 14-fold increase compared to just 16 tons in 2023, driven by significant contributions from India and Egypt, with India supplying 99.7 tons. On a national scale, Russia imported 1.4 million tons of bananas, with Ecuador maintaining its position as the dominant supplier, accounting for 1.3 million tons of the total imports.

2. Weekly Pricing

Weekly Banana Pricing Important Exporters (USD/kg)

Yearly Change in Banana Pricing Important Exporters (W4 2024 to W4 2025)

Ecuador

Ecuador's banana prices surged by 12% week-on-week (WoW) to USD 0.28 per kilogram (kg) in W4. This reflects a 27.27% month-on-month (MoM) increase. The rise in prices is attributed to a sharp reduction in local supply, caused by slower harvests. Additionally, improved cold chain management at the newly launched Guayaquil Banana Gateway has enhanced export quality and efficiency. The increase also reflects stronger demand from key markets as exporters capitalize on Ecuador's improved logistical infrastructure. However, YoY prices dropped by 20% due to the lingering effects of oversupply earlier in 2024, intensified competition from other banana-exporting nations offering lower prices, and ongoing logistical challenges that have constrained Ecuador's ability to fully recover price levels in global markets.

Philippines

Banana prices in the Philippines increased by 2.4% WoW and YoY to USD 1.28/kg in W4 due to stronger export demand, particularly from key markets in Asia, coupled with a slight reduction in supply caused by the ongoing impact of Fusarium Tropical Race 4 (Foc TR4) on production in Mindanao. Favorable weather conditions in some regions also contributed to improved quality, which supported higher prices. However, MoM prices dropped by 0.78% due to lingering logistical challenges and rising input costs, which have constrained production recovery and limited the ability to meet growing demand fully. These factors, combined with seasonality, have maintained pressure on price fluctuations.

Colombia

In W4, banana prices in Colombia remained steady at USD 0.50/kg, reflecting a 4.17% MoM increase and a 6.38% YoY increase due to sustained export demand from key markets like the United States (US) and Europe, driven by seasonal recovery. Favorable weather conditions supported consistent production, while reduced competition from other exporting countries and continued efforts to address logistical challenges helped maintain stable market dynamics. The YoY increase highlights improved market conditions and stronger export performance compared to the same period in 2024.

Guatemala

Guatemala's banana prices held steady in W4 at USD 0.21/kg since W2, with a 4.55% MoM decrease due to increased supply levels early in the season, which created temporary downward pressure despite stable demand. However, there is a 23.53% YoY increase due to lingering effects of weather challenges in late 2024, such as scattered showers and rainy conditions that disrupted harvesting and logistics, leading to tighter supply and higher prices compared to the same period last year.

3. Actionable Recommendations

Strengthen Resilience and Expand Cultivation Area

Banana producers in Honduras should focus on farm renovation by securing financial partnerships to restore cultivation areas and improve yield stability. Implementing flood-resistant infrastructure and sustainable farming practices can mitigate future risks. Additionally, producers should strengthen supply chains by collaborating with market stakeholders to manage rising prices and stabilize domestic availability.

Diversify Banana Import Sources

Russian importers should strengthen supplier partnerships by diversifying beyond dominant suppliers like Ecuador to include emerging contributors such as India and Egypt. This approach can reduce reliance on a single source, ensure consistent supply, and mitigate risks from market fluctuations.

Boost Resilience to Cold Weather

Banana farmers in Karnataka should adopt targeted use of micronutrients like zinc and boron to improve crop resilience to cold stress. Additionally, diversifying planting schedules and exploring cold-tolerant banana varieties can mitigate future weather-related losses and stabilize farmer incomes.

Sources: Tridge, Daily Tribune, Deccan Herald, Dg-yug, Freshplaza, Gov UK, Proesp, Tazabek