Europe Trend Week 18

All markets still under high pressure, in an ongoing historic crisis..

Demand in Western Europe has maintained good vitality in spite of the public holiday on 1 May: sales are lively thanks to temperatures remaining cool, weak competition from seasonal fruits and the launch of promotions on most markets. However the East European export markets are still saturated, with an ongoing historic collapse. Most of all, incoming shipments are registering high levels, and some deferrals from previous weeks are still available.
On the one hand, the combined Africa/French West Indies supply is continuing to approach average for the season. On the other hand, despite Colombian embarking on its seasonal fall, now registering slightly below-average levels (-5%), overall dollar banana shipments are still heavy because of high volumes from Costa Rica, and above all the ongoing Ecuadorian peak, with levels 20% above average. Hence despite good yellow banana fluidity, the green banana market is still saturated, there are stocks of heterogeneous quality throughout Europe, and spot market prices remain stuck in a historic collapse for the season – with certain batches even available on commission.
In Russia, the situation remains critical, with the collapse ongoing. In Spain, the market is holding up thanks to the waning Canaries platano supply.