The supply did fall in October 2019 (576 000 tonnes), yet it was the second heaviest October in the EU’s history behind 2018, when the level reached practically 600 000 tonnes! We must also stress that this month, which can be rated excellent in terms of volumes, followed on from a historic peak of 507 000 tonnes for September 2019. So the market was in a comeback phase after a few relatively light months over the spring/summer period. On a twelve-month sliding scale (November 2018 to October 2019), the European market peaked at 6 461 000 tonnes, i.e. practically stable from the previous period (- 0.2 %). Over the first ten months of 2019, the downturn was just 0.6 %. It was the dollar group which under-performed, pushing down the trend with a fall of 2.8 % (Ecuador - 9 %, Costa Rica - 4.4 %, Peru - 13 %). The survivors in the dollar group were Colombia, which maintained its 2018 level, and the two up-and-coming troublemakers Panama (+ 11 %) and in particular Guatemala, up by 42 % year-to-year! While the African ACPs stood still (fall from Cameroon offset by the increase from Côte d’Ivoire and Ghana), the other ACPs made significant rises, such as the Dominican Republic or Belize. Surinam continued to plummet slowly to the depths. Finally, European production started to pick up, with its supply level increasing by 8.5 %.
banana - EU - supply
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