The banana market got off to a bad start in 2019. Yet these few weeks of doubt were quickly swept away, and replaced by a sense of optimism which swelled until the end of the year, and even extended into early 2020. This smoothly running market, though it never reached the soaring peaks or deep troughs of 2018, brought traders a renewed sense of confidence. However, the annual average price did not really take off: from a historic low point of 11.9 euros/box in 2018, it bounced back very hesitantly to just 12.2 euros in 2019. Yet the atmosphere is optimistic, and the first weeks of 2020 are reassuring. The years-long downward cycle has finally given way to an upward cycle. Annual contract prices are climbing slightly. However world banana production potential has reached new heights. Even so, the highly positive projections for Chinese demand are allaying the operators’ concerns. “Trust in me,” as Kaa said in the Jungle Book. Whether they are myth or reality, everyone wants to believe in them.
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