Banana Market Report ( Week 22 2015 )
The positive trend of the European banana market has gone into extra time.The seasonal slowdown in demand is still not making itself felt: cool temperatures, a limited and delayed supply of seasonal fruits, and the appearance of some promotions are contributing to maintaining decent banana consumption. Furthermore, the overall supply level remains moderate. Combined imports from Africa/French West Indies have risen, though they remain slightly in shortfall (5% below average). In addition, the dollar banana supply has confirmed its downward trend: the smaller production in Colombia is barely being offset by an increase in Costa Rican volumes. Ecuadorian imports have remained stable, though spot availability has been lower (FOB prices on the up). Most of all, the early start to the summer programmes by certain operators is aiding management of volumes during the seasonal transition. In Eastern Europe, after a slowdown at the beginning of the month, sales have confirmed their recovery. Hence a good balance has been observed on most European markets, with green prices strengthening slightly. However in Russia, larger incoming shipments and the heatwave in the country are tending to weaken the market despite CIF prices holding up. Finally, in Spain, the market seems to have finally settled into a summer consumption tempo, with the supply now exceeding demand.