Europe – The banana survey – Week 49

Between strengthening and tension, European markets still registering a good dynamic.

On the one hand, the overall supply has continued to subside. The combined Africa/French West Indies supply has stabilised at below-average levels (-13%): African volumes, stable and still high (8% above average), have remained insufficient to offset the FWI shortfall (76% below average).
In addition, the dollar banana supply has remained moderate: the Colombian supply has continued to wane to low levels (7% below average); Costa Rica has continued its seasonal fall to levels similar to 2016, while Ecuadorian shipments have remained moderate. On the other hand, green banana demand has remained dynamic in Northern and Eastern Europe.
Hence the tension has persisted on these markets, and prices have continued to increase. In Italy, despite disappointing consumption, the fall in supply has helped slightly strengthen prices and maintain a balance. In Spain, the fall in prices has paused because of more moderate supply (quota).
Finally, in Russia, the supply pressure has weighed down on the market, and prices have fallen more steeply, though still maintaining decent levels.