Europe – The banana survey – Week 32

Summer crisis continuing across all the European markets.

The overall supply has increased slightly, though it remains moderate. On the one hand, while Costa Rican volumes have remained average and Ecuadorian volumes limited because of the lack of appeal of the European market, the Colombian supply has continued to increase slightly (8% above average). On the other hand, after volumes dipped in w.31, the combined Africa/ French West Indies supply is back to an above-average level (+9%) because of the return of African volumes (21% above average). In addition, the sales tempo has remained slow because of the marked summer context (heatwaves in Italy, Spain and Eastern Europe; abundance of competing fruits at very low prices, such as the melon and watermelon; holidays ongoing across Europe). Hence all the European markets have remained imbalanced, mainly in Southern and Eastern Europe, and prices have remained low. Despite clearances at highly competitive prices and sales on commission (mainly on the East European markets), fruit transfers and stocks can still be observed. In Russia, despite a temporary fall in volumes, prices have peaked at very low levels.