Banana monthly review: March 2024

The supply to the European market remained similar to March 2023, albeit without reaching the levels initially predicted. Dollar banana shipments were slightly smaller than the previous year, due to the end of the Colombian peak, and smaller shipments from Ecuador and Costa Rica (cold spell in Central America, with trade-offs favouring the American markets). Meanwhile, contrary to the forecasts, African volumes also remained slightly smaller than in previous years, because of a fall in production due to higher temperatures in the production zone, and lively demand from the sub-region linked with Ramadan. Only French West Indies volumes maintained the seasonal upward trend, with higher levels than in 2023. Furthermore, the shipping delays reported from the second half of February onwards continued to disrupt the supply, aggravating the tension already present on a market operating on a just-in-time basis, with no stocks. Meanwhile demand was rather good, boosted by the continuous in-store promotions. Hence the average import price continued to strengthen week on week until it returned to levels similar to 2023 in week 13.