Limited supply sending FOB prices soaring for Ecuadorian bananas!
- Published by Market News Service of CIRAD
- Free
Ecuadorian banana
Informations
- Product(s) : Banana
- Rubrique / Thématique : Direct from the markets
- Country : Ecuador
- Keywords : Export , Price , Production
After a disappointing start to the year, when prices were 18 % below average until May, the trend turned around in the second half. From June, FOB prices climbed constantly, reaching unprecedented levels in September 2022. An average price of 15.15 USD per box was registered for four consecutive weeks, i.e. a performance 84 % above average! The lack of fertilisation caused by the increase in costs, as well as poor weather conditions (cool temperatures, rains and lack of sun) hit the productivity of the banana plantations hard, thereby limiting availability. Consequently, the law of supply and demand sent prices upward. However, this price increase should be taken in the context of the increased production costs… As a reminder, fertiliser prices leapt up since the start of the year, as did cardboard prices.
