Europe – The banana survey – Week 39

Balancing strengthening on the European markets.

The overall supply has remained high because of heavy incoming dollar banana shipments. While the Ecuadorian supply has remained close to average, Colombia and Costa Rica have continued their seasonal increases, reaching above-average levels (+12% for Colombia). However the combined Africa/French West Indies supply has remained in shortfall (18% below average): FWI volumes have stabilised below average (-24%), and despite increasing, incoming African shipments have again been moderate (15% below average).
In addition, sales have continued to accelerate in Western Europe, still taking advantage of the promotions in place, weak competition from other fruits and cooler temperatures. Hence the balance has prevailed in Western Europe, and consequently the supply pressure has remained lower in Eastern Europe. In this context while Eastern Europe saw a marked price increase, prices struggled to rise in Western Europe. Overall, prices have maintained disappointing below-average levels.
In Spain, some tension has made itself felt and prices have regained above-average levels. Finally, the Russian market has remained under pressure, and prices have reached very low levels.