W45: Weekly Banana Update

Ecuador

Banana Producers and Exporters Clash in Ecuador Over the Value of Contracts for 2023 (Nov 8)

A little less than a month and a half ago, banana producers in Ecuador entered into an agreement with fruit exporters to fix the price of a box at 43 pounds, corresponding to US$ 6.50, for deliveries throughout 2023. The signing of the contracts with the commitments agreed in September would take place during this last quarter of 2022, guaranteeing the conditions for export throughout 2023, ensuring that less than the support price is paid. However, friction recurred between the parties. One of the concerns is that banana exports from Ecuador from January to September this year total 256.59 million boxes, a volume 8.98% lower than that registered in the same period last year. But the main point of tension is the fruit's spot prices in Ecuador, which at the moment fluctuate between US$ 10.00 and US$ 13.00 a box, which made producers resist signing export contracts in search of to take advantage of spot prices. 

France

French Suppliers Have a Clear Idea of Banana Contract Prices for 2023 (Nov 9)

The Global Produce & Floral Show in Orlando, US, and Fruit Attraction in Spain, two international events that took place in October, significantly affected the future price contracts for bananas in France. Banana suppliers sent the price for the 2023 contracts following the event, as the expected offering prices were more certain. Premium-quality bananas from Latin America are offered for USD 16.96/18 kg box or USD 0.92/kg FOT Rotterdam. Buyers are currently willing to pay USD 16.10/18 kg box, or USD 0.87/kg. Price-setting considerations are increasingly influenced by freight costs. Large suppliers will be more competitive because of their high volumes and can benefit from lower rates. Therefore, small suppliers will only be able to compete by acquiring their own brand and lowering the possibility of product delivery issues.

Spain

The Canary Islands Call for Aid to Banana Producers With Protected Geographical Indication (Nov 7)

The Official Gazette of the Canary Islands (BOC) published on November 3 the Order calling for the " Aid to banana producers with Protected Geographical Indication (PGI)" for the 2023 campaign, Measure II of the Community Production Support Program Agrarian of the Canary Islands. The subsidy, which includes a financial statement of 141.1 million euros, will benefit banana producers on the islands with PGI. In the case of the aid complement, the beneficiaries will be the producers who grow plantains outdoors. The Minister of Agriculture, Livestock and Fisheries, Alicia Vanoostende, recalled that the aid to banana producers includes a subsidy based on the assigned reference quantities and a supplement consisting of a payment per hectare for those producers who maintain the cultivation system outdoors, which is set at 1,200 euros per hectare and year, up to a maximum of 7,600 hectares. Also, he announced that the producers affected by the volcanic eruption of La Palma, whose lands have been buried or isolated by the lava, "will receive 100% of the subsidy based on the reference amount that they had assigned and the complement of aid for outdoor surface perceived in the 2021 campaign ”.

Poland

Fresh Fruit and Vegetable Sales in the Polish Wholesale Market in W44 at an Average Volume (Nov 9)

Polish wholesale market sales experienced a normal sales volume in W44 with an upward trend only on Sunday. As of November 6, Ecuadorian banana prices in the Bronisze Wholesale market were USD 18.49-19.35/18 kg.

Brazil

Epagri Promotes a Fruticulture Field Day in Itajaí With the Launch of Banana Cultivars (Nov 8)

On Dia Campo, Epagri will launch the banana cultivars SCS453 Noninha and SCS454 Carvoeiro. Both are spontaneous mutations of the Prata Anã cultivar, selected by two farmers from Criciúma, in partnership with Epagri. With these launches, Epagri adds five banana cultivars available to Santa Catarina farmers. Bananas from the Prata subgroup are the most consumed in Brazil, with Prata Anã producing the standard banana of this subgroup. The two new cultivars maintain the characteristics of the fruit, that is, they are born ready to supply part of this large consumer market. The Noninha banana tree is about one meter shorter than the Prata Anã, which facilitates cultural practices. Offers greater resistance to Panama disease and productivity similar to Prata Anã. The Carvoeira cultivar produces about three tons more per hectare when compared to Prata Anã, it is more resistant to Panama disease and slightly more resistant to Sigatoka.

New Plantain Cultivar Combines High Productivity and Food Quality (Nov 8)

Brazilian farmers now have one more option for Terra banana, also known as plantain. Developed by Embrapa's Banana and Plantain Genetic Improvement Program, BRS Terra-Anã joins the Terra Maranhão, Terrinha, and D'Angola varieties, officially registered by Embrapa Mandioca e Fruticultura (BA) in 2018. In relation to the D´Angola cultivar, its direct competitor, the BRS Terra-Anã has differentials: the dwarf size, greater number of bunches and fruits, and higher productivity, in addition to superior sensory and food qualities. “There was a strong demand on the part of producers for new cultivar options for this type of banana since the three most used commercial cultivars have as their main disadvantages the very tall size, the very long production cycle, the low productivity or even the little fruit quality”, says researcher Edson Perito Amorim, coordinator of the improvement program. The variety is resistant to yellow Sigatoka and Fusarium wilt and susceptible to black Sigatoka, the main banana diseases; to the rhizome borer (pest also known as banana moleque) and to nematodes (parasites that affect various aspects related to production). Initially, BRS Terra-Anã is recommended for planting in Mato Grosso and Vale do Ribeira (SP), but work is already underway in the north of Minas Gerais and in the states of Rio de Janeiro and Ceará, aiming to validate the cultivar for future extension. recommendation to other regions.

New List of Products Entitled to Pgpaf Bonuses Released (Nov 9)

The National Supply Company (Conab) is the body responsible for collecting the market price and calculating the bonus. The discount on PRONAF financing installments is offered by the federal government based on the average market value and the guaranteed price of each product. The largest bonus granted in the November list (50.35%) was for cowpea in Tocantins, followed by cowpea in Mato Grosso (43.87%), and cowpea in Amapá (41.71%).

South Korea

Duty-Free Bananas, Pineapples, and Mangoes Landing Soon (Nov 9)

Ministry of Finance, Promotion of Price Stabilization Measures Growing worries about farmers in harvest season It is expected that 'tariff-free bananas, pineapples, and mangos' will be released on the market as early as the 10th. During the full-fledged fruit harvest season, imported fruits at low prices were circulated, causing an emergency in domestic production. Earlier, on October 28, the Ministry of Strategy and Finance released a plan to expand the quota tariffs to stabilize the daily life of the common people during the winter season. This is because it is judged that measures to stabilize the living of the common people are urgently needed as high oil prices and high exchange rates continue to burden the working class with heating costs and unstable shopping cart prices. Accordingly, quota tariffs will be applied to 10 items, including heating fuels such as liquefied natural gas (LNG) and liquefied petroleum gas (LPG), and aquatic products such as mackerel and pollock. In particular, the 10 items contain fruits such as bananas, pineapples, and mangos. The Ministry of Finance explained that the quota tariff was newly applied due to strong tropical fruit prices. As of September, the price of bananas rose 11.2% from the previous year, mangoes 18.5%, and pineapples 16.4%, respectively.

Egypt

Prices of Vegetables and Fruits (Nov 13)

Traders in Egyptian markets indicated that on Sunday, 13-11-2022, the prices of the local bananas ranged between 12.5 and 15 pounds while the imported bananas went for about 20 pounds.