Europe Trend Week 30
Supply and demand falling in tandem, maintaining the market balance in Europe.
The seasonal fall in incoming shipments has continued, reaching below-average levels. The overall Africa/French West Indies supply is now 13% below average because of the ongoing fall from the FWI and the widening Cameroonian shortfall, which is not being offset by the other origins. In addition, on the dollar side, the overall supply is continuing to subside, with levels near average. Colombia is continuing its seasonal fall, Costa Rican shipments are starting to subside due to smaller shiploads from production (rains), and Ecuador is maintaining low levels.
However, the arrival of the generalised heatwave has contributed to further slowing sales on most of the markets. Hence the declining supply has contributed to maintaining the balance in Northern and Southern Europe, where prices remain unchanged and stocks limited. However, in Eastern Europe, the incipient improvement observed last week has come to nothing, with the markets weakening again as the heatwave arrived. In Russia the situation remains critical, with supply outstripping demand. Finally, the situation in Spain is unchanged, with the Canaries platano shortfall still in place.
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