Banana monthly review: August 2020

As usual during the summer, the holidays, the presence of competing fruits and the summery temperatures greatly slowed banana demand. However, the overall supply was rather restrained, which helped maintain the balance on all the European markets. Regarding the dollar origins, incoming shipments from the Ecuadorian giant were in shortfall, because of the period of low production and the trade-offs in favour of other markets. Although volumes from Costa Rica and Colombia began their seasonal increases, they were still moderate (3 % below average). The African supply was back to barely average. Shipments from Côte d’Ivoire were still very distinctly above average (+ 13 %), once again offsetting the shortfall of fruit from Cameroon and Ghana, at - 18 % and - 22 % respectively. Finally, the French West Indies remained well in shortfall, with volumes falling (- 11 %). The average green banana price on both the West and East European markets remained stable between July and August, at 3 % below average.

banana - EU - average green price