UK banana market - the downward slide continues

The dynamics of the UK banana market were already in question after Brexit. Imports, which grew steadily until 2013 and stabilised at a level of over 1.1 million tonnes between 2013 and 2017, have come to a clear halt. Indeed, a reversal of the trend was noted in 2018. The volumes imported in 2021 were only 931,000 tonnes, representing a drop of almost 20% since the peak of 2016. The reason for this is the depreciation of the pound sterling since 2017, which would have made the British market less attractive for exporters. In addition, given the new constraints on re-exporting to neighbouring EU countries, importers would have been more cautious in their orders to avoid stockpiling in the event of poor market conditions. The arrival of Covid in 2020 would have only strengthened the momentum that had already been built up.

Between January and August 2022, the downward trend is confirmed and amplified, with total banana imports falling by 4% compared to the same period in 2021. While the ACP bloc, particularly African, is making a good comeback on the British market, it is the dollar banana that is showing a deficit with, in particular, a 10% drop for the 3 main suppliers: Colombia, Ecuador and Costa Rica. Other Latin American origins, such as Peru and Mexico, are also losing ground. In 2022, it is to be hoped that this new drop, which affects the dollar block, in particular, is simply a reflection of the global supply deficit observed on all markets... however, this new loss of speed could also be the result of a global consumption crisis in a context of galloping inflation... 

UK - Banana - Evolution of imports January-August

UK - Banana - Evolution of imports January-August