Pressure increasing on the European markets, suffering the full force of the seasonal slowdown.
The slowdown in demand on the European market has spread and deepened. The high temperatures (especially in Eastern and Southern Europe), significant competition from seasonal fruits (large quantities and low prices) and the school holidays now in progress in many countries (France, Italy, Spain, Germany, Poland) have continued to curb consumption, which seems to have found its summer tempo. Furthermore, despite the gradual decline by the dollar and Africa origins, incoming volumes have again outweighed demand. Colombia and Costa Rica have continued their seasonal fall, while Ecuadorian exports have continued to wind down. However, African volumes have remained above-average, and the French West Indies production peak has continued. Hence stocks have built up and the situation has deteriorated throughout Europe. Prices have continued to collapse, particularly in Eastern Europe, where numerous clearances, especially of highly mature fruits and/or inferior categories, have been made at very low prices. Finally, in Russia, the situation has started to deteriorate because of the slowdown in demand.