Europe Trend Week 03

All European markets continuing to improve rapidly, because of general under-supply.

The lack of volumes has intensified because of limited dollar banana availability: since the beginning of the year, dollar banana exports (Ecuador, Colombia, Costa Rica) have registered a level 15 % below the 2-year average.
Colombian volumes have further decreased this week (33% below average), the Costa Rican supply has remained lighter than expected (cold causing small-sized fruits), and Ecuadorian shipments have been limited because of the smaller shiploads over the festive period and cold in the production zones (14% below average).
On top of that there have been shipping and unloading delays because of the climate conditions at sea.
Furthermore, the combined Africa/French West Indies supply is back to below-average levels (-21%) because of the FWI shortfall and the African supply returning to average. Hence the supply has been insufficient for the growing demand, and green prices have continued to skyrocket, especially on the spot market. In Spain, prices have stabilised at satisfactory levels because of an increasing Canaries supply and stocks still being available.
Finally, in Russia, the market has maintained a stable and positive trend despite quiet demand and a large supply.