Europe – The banana survey – Week 38

A better balance is maintained in the European markets, without allowing real price increases.

Overall supply remained high due to seasonal increases from Colombia and Costa Rica with above average levels. In addition, arrivals from Ecuador remained stable at average levels.
However, cumulative supply from Africa/FWI has remained in deficit (-21% / average) due to the decline in FWI volumes (-24% / average) and the delay in the African seasonal rise (-19% / average). In addition, vessel delays due to climatic disturbances (hurricanes in the Atlantic) have also disrupted the supply to Europe. Moreover, sales have continued to accelerate all across Europe, especially in Western Europe, which benefited from an increasingly favorable context (fewer competing fruits, promotions, cooler temperatures).
Thus, supply and demand remained balanced both in the West and in the East, and price increases continue to be observed here and there. However, the recovery in prices is still modest and levels remain disappointing for the season, except in Spain where prices have returned to average levels. Finally, in Russia, the market has been under pressure from supply, bringing prices down.