Europe – The banana survey – Week 24

Seasonal adjustment continuing across all European markets, still on a positive trend. The sales tempo has slowed further on the South European markets (Italy, Spain, France), and the East European markets, now approaching their summer level. In Northern Europe, the slowdown has deepened, though demand has remained decent thanks to the unstable weather.
In addition, the overall supply has increased.
The dollar supply (Ecuador, Colombia, Costa Rica) has maintained a stable and moderate level because of the seasonal Colombian fall. However, the combined Africa/French West Indies supply temporarily increased (27% above average) because of large FWI volumes in anticipation of cutting due to the public holidays (19% above average), and a temporary increase in African volumes (31% above average).
Hence stocks have started to accumulate here and there, and prices have continued to drop, though still maintaining near-average levels. Furthermore, clearances have been made at competitive prices on the East European markets.
Finally, in Russia, the market has only fallen slightly because of smaller incoming volumes.