In January, the overall supply was bigger than last year (+ 1.7 %) and above average, despite the supply being disrupted by logistical delays and persistent shortfalls from some origins. Hence the very large shortfall in the French West Indies supply was not offset by the African increase, despite higher levels than in 2017 (+ 4 %). Despite the Colombian shortfall and slightly smaller Costa Rican volumes than in 2017, the dollar banana supply remained bigger than last year, thanks to the increase from Ecuador and to the rise from minor origins (Honduras, Panama). However, the market rapidly tightened up due to very lively demand and low stocks. Hence green banana prices on the free market continued to strengthen distinctly.
In February, the supply remained bigger than in 2017, in spite of a fall in African shipments and the still marked FWI shortfall. It was dollar banana volumes that were large, with the ongoing Colombian shortfall easily offset by imports from Costa Rica and above all Ecuador, which were bigger than in 2017. Hence tension remained in place, with shipping delays heightening the feeling of under-supply. In addition, sales registered record levels thanks to temperatures favourable for consumption and very weak competition from other fruits (shortfall of apples and pears, citruses ending early, strawberry campaign struggling to get going). In this context spot prices reached historic peaks for the period, with a very wide gap from contract prices. The yellow banana struggled to take up these increases toward the end of the month.
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