While 2019 marked a historic turning point for Ecuadorian banana exports to Asia, “the Year of the Rat” seems to augur less well… All hopes had been placed in China and its growing appetite for the banana: more than 450 000 tonnes were shipped there in 2019, according to Ecuadorian Customs, up 71 % from 2018, after an equally remarkable rise between 2017 and 2018 (+ 87 %)! However, Asian imports of Ecuadorian bananas at the start of 2020 were particularly disappointing. As usual for this time of year, they ebbed due to the sluggishness of the market because of the Chinese New Year festivities and the seasonal competition from regional Asian produce. Yet this year, logistical problems (shortage of containers) and a fall in consumption due to the Coronavirus epidemic accentuated the phenomenon. Halted at the end of February, shipments from Ecuador were 17 % smaller than in 2019, and 2 % below the three-year average. In late February, the panic around Coronavirus led to the announcement of the suspension of two shipping lines between Guayaquil and China, which should further bog down the situation. The fact remains that of the 2.4 million boxes per month shipped to the Asian markets, some will find takers elsewhere...
ecuadorian banana - asian imports
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