The supply to the European market was down by 0.9 % in 2021. The disruptions to the logistical chains, some origins favouring the North American markets, surging production costs, a less favourable euro/dollar exchange rate for dollar exporters to the Eurozone, etc., are some of the reasons explaining this downturn, a moderate one all in all. In proportion, the ACP origins and European production did well, while the dollar banana slipped. However, we should not be under any illusions. It is the world supply that sets the market tempo, and in no way demand. Hence the expansion capacity of the dollar supply over recent years remains the central and sole factor, which should lead us to fear the worst.
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