European banana consumption remains sky-high.
Indeed a new absolute record was set for a twelve-month period (March 2016-February 2017: 6 154 000 tonnes). This is 5 % better than the previous period (March 2015-February 2016). Over the first two months of 2017, the supply (imports + EU production) climbed by 7.4 %! After a strong supply surge in January (+ 13 %), February was back to normal with just 2 %. It was the dollar origins which saw the biggest rise, with imports up by 13.5 % over the first two months (especially Costa Rica and Ecuador). The ACP group was very mixed in its trends, with African origins up by 5.6 %, while the other ACPs went down by 11 %. European production saw another big fall (- 21 %), hampered by the absence of two-thirds of volumes from Martinique and by a quarter of volumes from Guadeloupe.
In the United States, the supply rose by 3.1 % over the first two months of 2017. Guatemala, Costa Rica, but also Honduras and Mexico, registered two-figure growth rates. This was insufficient for the moment to reverse the twelve-month supply curve. The market is doing no more than holding up slightly above 4 million tonnes, at 4 058 000 t .
Source: CIRAD
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