FruitTrop Magazine n°240
April 2016 -
Avocado &
Banana close-ups
- Publication date : 11/05/2016
- Price : Free
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Russia: the banana in less trouble than other fruits
- Published on 11/05/2016 - Published by LOEILLET Denis
- FruiTrop n°240 , Page From 100 to 100
- Free
Speaking recently about the Russian market, a European operator recently remarked: “We don’t understand anything about it any case.” This is a somewhat sweeping verdict, but not very far removed from the truth...
Informations
- Product(s) : Banana
- Rubrique / Thématique : Economic analyses
- Country : Russia
- Keywords : Consumption , Import
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Articles from same magazine
Russian consumption for the banana — though not just this fruit — dropped in 2015, registering 500 grams less per capita, i.e. a 5 % fall by volume. This meant a consumption loss of practically 1 kg in two years.
In 2015, the market amounted to 1.2 million tonnes, as opposed to just over 1.3 million tonnes in 2013. However, there seems to be no great trouble, since 2016 began with a bang, with January and February exceeding by 30 to 40 % the supply observed for the same months in 2015. It is Ecuador which now has a nearly 99 % hold over the market. The Philippines has collapsed, and Costa Rica has subsided greatly, though in this case we are talking very small volumes.
The collapse of the rouble against all the currencies is doubtless not unrelated to the erosion of imports. Yet the banana has the advantage in times of crisis of being the cheapest calories in the fresh produce section. While import prices in roubles leapt up in 2015, going from 537 to 788 roubles per box, the retail price went from 13 to 16 roubles per kilo. These were steep increases, yet inflation too was rampant, at around 13 % in 2015. Finally, if the banana labels are soaring, those of the competing products are soaring just as quickly. A kilo of oranges or apples is 20 to 25 % more expensive than a kilo of bananas. The difference has tended to dwindle in recent years, yet the gap remains substantial.
More generally, the EU has every interest in Russia absorbing more than one million tonnes per year of Ecuadorian bananas, fruits often described as highly mobile, and which could swell the world surplus, if there is one. We should recall that retail sales dropped by 10 % in 2015, in conjunction with the fall in real wages (-9.5 % in 2015). Hence there will be satisfaction at a recession in the Russian economy of only 1 % as opposed to 3.7 % in 2015, and at the banana market falling by just 5 %.
banana - russia - consumption
banana - russia - consumption
banana - russia - imports
banana - russia - imports
