Banana monthly review: March 2020

  • Published on 17/04/2020 - Published by Market News Service / FruiTrop
  • Free

Banana holding up in the face of the coronavirus pandemic

Procurement was sufficient because of the rise in the overall supply. On the one hand, Colombian volumes remained stable and 5 % above average. Ecuadorian exports continued to rise due to the production peak. Volumes were distinctly bigger than in previous years, because of expanding surface areas and favourable climate conditions. On the other hand, the supply from the African origins also increased, with moderate volumes (3 % below average). Côte d’Ivoire continued its rise (+ 1 %), while Cameroon and Ghana remained below average, by 10 % and 13 % respectively. The announcement of the implementation of lockdown measures in Europe had a shockwave effect on the market. Consumer demand for yellow bananas literally exploded for around ten days between weeks 12 and 13. The industry was quick to organise in response to this sales boom, eliminating flowpack banana sales in anticipation of personnel reductions, and to ensure food safety at all links of the chain. Regarding green banana prices, while they remained stable overall in Western Europe, they began to fall in the East, leading to a drop in average price (- 9 %).

In Russia, the market collapsed because of a heavy supply and the fall in the rouble. Prices dropped to 56 % below average.

   

banana - EU - average green price march 2020

Click "Continue" to continue shopping or "See your basket" to complete the order.