Europe Trend Week 26

Summer slowdown continuing on the European markets, where the balance is continuing to weaken.

The temperatures are now summery, especially in Western Europe, which has led to sales running out of steam. As usual, demand has continued to switch to seasonal fruits, although the quantities are still moderate, to the detriment of bananas for which supermarket promotions have subsided. In addition, the start of the summer holidays in Eastern Europe, and those already underway in Italy, Spain and some parts of Germany, have also affected sales. However, the overall supply has continued to subside. On the one hand, while the French West Indies peak has continued, African volumes have dropped temporarily (Ivorian logistical problems on top of the Cameroonian shortfall). Hence, the combined Africa/FWI supply is back to levels 5% below average.
On the other hand, the seasonal fall in the dollar origins is ongoing: while incoming Ecuadorian and Costa Rican shipments have maintained above-average levels, Colombian volumes have reached average levels (-2%). Hence some stocks have been available here and there, clearances have been made especially on the East European markets at competitive prices, and prices have dropped only slightly from already low levels.
Finally, in Russia, the market remains under pressure because of very slow demand. On the Spanish market, despite prices starting to be revised downward, levels remain historically high.