W47: WEEKLY BANANA UPDATE

Pico Agriviet

In summary, in Ecuador, spot prices continue to decrease with reference FOB prices of USD 9.95 for the 13.5 kg box and USD 12.3 for an 18.14 kg box. On the other hand, prices at Ecuadorian plantations for the year 2023 are set at USD 0.333/kg. This price is due to the increase in the spot market experienced from W38-W46, with a sudden decrease during W47.

In Costa Rica, as part of the recently approved law for Due Diligence in the supply chain of Germany, companies that supply on a scale from origin countries must follow due diligence regarding social and ethical standards in producing countries, due to this the Non-Governmental Organization, Oxfam will visit banana plantations in Costa Rica to review working conditions.

In Argentina, the internal sale price of bananas increased by 51% WoW to an average of USD 1.47-2.22/kg in W45. Importers in Argentina have started to have problems accessing the official exchange rate to access dollars and pay for banana imports, increasing demand for local bananas.

Meanwhile, in Poland, the FOT spot prices for green bananas had increased in W45–W46. High demand raised the price to USD 18.56/18kg, and the prices for no-name brands ranged from USD 16.50-17.53/18kg, market prices are expected to rise in W47 due to lower supply arriving in Europe.

Lastly, Spain discovered a repellent against the Black Weevil in banana plantations.

Source: https://www.tridge.com/stories/w47-weekly-banana-update

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