Europe – The banana survey – Week 02 Fruitrop
All of the European markets rapidly improving because of high tension.
Firstly, the resumption of commercial activity has continued, as is traditional at the end of the school holidays and the festive period. Secondly and most of all, the overall supply is much smaller.
The already moderate incoming shipments from Colombia, Costa Rica and Ecuador have been limited even further because of smaller shiploads during the end-of-year festivities, as well as shipping delays. In addition, the French West Indies supply has remained well in shortfall.
Only African volumes have maintained stable above-average levels, though they have remained insufficient to make up for the overall lack of fruits. Hence the under-supply to Europe has increased green banana price to above-average levels on all the markets, in both the West and East.
In Spain, a better balance has been restored with the resumption of business, with prices strengthening back to levels slightly above average. Finally, in Russia, the recovery in demand has again been hesitant, though prices have remained stable because of similar incoming volumes to 2017.