Improvement on the various European markets solid, and magnifying.
On the one hand, demand from both Eastern and Western Europe is proving highly dynamic.
Competing fruits are still rather scarce, and the weather is proving favourable for banana consumption. On the other hand, the overall supply is more moderate. Whereas Colombian volumes are maintaining above-average levels, Ecuadorian volumes are lighter due to the poor climate conditions, while Costa Rica has also begun its fall. In addition, some shipping delays have disrupted this week’s supply and contributed to creating some degree of tension.
Furthermore, incoming African shipments are no longer offsetting the lack of fruit from the French West Indies, with the combined total for these sources below average for the season (-14%). In this context green banana prices have continued to strengthen, in particular on the East European markets, and the gap from previous years is tending to narrow. Only the Spanish market is starting to weaken, because of the seasonal rise in the Canaries supply.
In Russia, volumes also remain high and the market fragile.