Banana consumption in Russia boomed in 2017, for the first time exceeding the 1.5-million tonnes mark at 1 544 000 t. In fact this was a 12 % increase in one year, and above all confirmation that the Russian market has emerged from its lethargy. There had been no significant increase since 2011. Demographic shrinkage and the increased supply sent consumption per capita soaring: 10.8 kg as opposed to 9.5 in 2016. There was nothing new regarding the origins, with Ecuador seizing 96 % of the market, leaving the crumbs to Mexico and Costa Rica.
The initial data from 2018 exceeded expectations in a big way. Cumulative deliveries since the beginning of the year were in excess of 30 million boxes, i.e. 6 % better than in 2017, which as we have emphasised was an exceptional year. Prices went a completely different way: as proof, between week 16 and week 17 2018, the CIF St. Petersburg green banana price quite simply halved, going from 13.25 to 8.25 USD per box. As a reminder, it had climbed to nearly 22 USD in March! And the crisis is creating ripples throughout Europe
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