Banana monthly review: January 2020

The year got off to a rather hesitant start. The small stocks that formed during the end-of-year festivities rapidly sold off when things got going again in early January. Thereafter, the overall supply was moderate throughout the month, despite the rise from certain origins. Colombian volumes embarked on an increase (19 % above average), though they could not offset the shortfall from the other dollar origins. Incoming shipments from Ecuador remained slightly below average (- 2 %), and Costa Rican shipments barely average. The latter were very heavily disrupted by logistical problems due to unfavourable weather conditions (port closures). The African supply too was below average (- 3 %), with the combined volumes from Côte d’Ivoire and Ghana struggling to offset the still very marked Cameroonian shortfall (- 14 %). The FWI also registered a level 21 % below 2015 (last non-cyclone year). Demand was decent, without being dazzling. However, the shortage of fruit enabled an increase in green banana prices. For the start of this year, prices were 12 % higher than in 2019, but 7 % below the two-year average.

On the Spanish platano market, the situation remained very complicated until mid-January (heavy stocks and slow sales), before the balance was regained at the end of the month.

banana - EU - average green price in january 2020