Banana monthly review: November 2023

Demand waned as per the seasonal trend, in spite of promotions on the main West European markets. However, sales managed to maintain a better level than in previous years, among other things because of the weak competition from seasonal fruits. In addition, thanks to a rather moderate overall supply, the markets avoided becoming unbalanced, as normally happens at this time of year. The seasonal fall from the dollar origins began in October, especially for Costa Rica and Colombia. The latter origin’s supply was back to slightly below average. Ecuador maintained a stable level similar to its lean year in 2022, because of lower productivity and the absence of spot supplies (difficulties with the Panama Canal transit). Only Africa reached peak production, with levels above average for the season. Furthermore, logistical difficulties created some minor disruptions in the supply, initially at the start of the month because of the storms in the Atlantic, and then in Eastern Europe from mid-November because of hauliers’ strikes in Poland. While some stocks were reported here and there, the balance of the markets held up overall, and the price falls which began in October halted toward the end of November. The Cirad barometer average green banana price for November remained 15 % above the two-year average. Only the Spanish market saw a big deterioration. Despite Canaries volumes being discarded, the platano supply registered a big surplus compared to demand. Prices dropped throughout the month.