Ecuador: banana exports and effects on the reefer market

The reefer market has been affected recently by the events which have caused irregularities in the banana export activity in Ecuador and which could continue to influence chartering activity for specialized reefer vessels over the coming weeks or months.

If we consider the volumes exported from the Andean country during weeks 15-25 of this year and compare them with the same period of 2004 it appears that a total of 51,568,886 boxes were exported last year, against 50,737,133 this year, a difference of 831,753 boxes less or -1.61 percent.

To try to understand the factors which have influenced banana exports from Ecuador, the reefer market, banana selling prices in some world markets and the internal price paid to growers, Guayaquil based brokers Sopisco, specialists in the banana trade have performed the analysis shown below.

To access the full report click here (PDF).