Europe – The banana survey – Week 30

European markets still saturated, and stabilising at low levels.

However, the overall supply has continued to decrease slightly, especially because of falling volumes from Ecuador, registering below-average levels. Total exports from the origin have ebbed, and the European market has again exhibited a lack of appeal. In addition, Colombia and Costa Rica have maintained their summer lows, at average levels. Furthermore, the combined Africa/French West Indies supply has also stabilised, though still maintaining above-average levels (+22%). While African volumes have remained well above average, the FWI supply has continued to fall. However, demand has again been insufficient to absorb the still excessively big volumes. Sales have continued to idle because of the high summer temperatures, school holidays and competition from summer fruits. Hence although the pressure has eased slightly here and there, overall the European markets have remained saturated, especially the East European markets, still particularly swollen and competitive (clearances from Western Europe, volumes initially bound for Russia, inferior quality fruits). In this context no price improvements have been possible. In Russia, the pressure has remained very high and prices have dropped again slightly.