Take it or leave it for banana supplies in Russia

The demand for bananas in Russia is low due to quality issues with the boxes of yellow bananas they are receiving from Ecuador. There are a lot of stone fruits in the local market and consumers are most interested in cherries, apricots and other seasonal fruits. A Russian importer said that they are feeling the impact of a lower demand from supermarkets compared to last year, to leave room for other fruits that are in more demand.

In the second and third week of June, it was reported that small quantities of yellow banana boxes were arriving with fungus inside the bananas. The importer said that they have not experienced these problems themselves, but it has affected the quantities that wholesalers have been buying, especially during the low season.

Both green and ripened bananas are selling for $14 per box at the moment, compared to prices of $23 per box one month ago. There was an oversupply in June so many companies, importers and supermarket chains (who buy directly from Costa Rica and Ecuador), bought large volumes at that time. About 800,000-900,00 boxes are arriving per week to Russia from Ecuador, compared to 1.2 to 1.5 million boxes last spring.

Many international companies like Dole and Chiquita also buy from Ecuador which makes it virtually impossible to import additional stock. As a result, only contracted volumes are being supplied at present due to the high spot prices coming out of Ecuador.

Demand for bananas are expected to increase again in September once children go back to school and need a handy snack to take with them.