Europe – The banana survey – Week 50

European markets maintaining a positive trend.

On the one hand, the overall supply has remained moderate. Despite a temporary increase in incoming Ivorian shipments, the combined Africa/French West Indies supply has remained slightly below average (-3%) because the ongoing and highly marked FWI shortfall.
In addition, incoming dollar banana shipments have continued to subside: the Colombian supply has maintained its downward trend, remaining in shortfall (7% below average); Costa Rica has continued its seasonal fall, while Ecuadorian volumes have remained moderate.
On the other hand, despite a dip in yellow banana activity here and there, green banana demand has remained dynamic in both Eastern and Western Europe. Hence green banana prices have remained strong, and the markets well balanced, or even exhibiting a degree of tension.
In Spain, the pressure has started to subside because of a more limited supply (quota) and activity picking up, though prices have still remained stable and below average.
Finally in Russia, despite the big supply, accelerating sales have paved the way for an upturn in prices.