Historically, September marks the return of the regular demand for bananas. Prices recover to more reasonable levels, halted only by bigger output of bananas from Central America and Colombia, although this year might be different. Growers from Costa Rica, Guatemala, Colombia, as well as Mexico and Nicaragua are forecasting significantly higher yields than previous years during the next 3 months. Ecuador is not suffering from a lack of fruit, despite unfavorable climatic conditions. On the contrary - it is seeing extremely low fruit prices. There is also a visible increase in production in the Philippines.
"Last week, the Polish market along with a few other Eastern European markets was visibly more vigorous than during the previous summer weeks. The prices for both green and yellow fruit have remained the same for the most part, however, there was clearly more demand for green fruit, especially in neighboring markets. This is probably due to a more limited availability of the cheaper and older fruit, as well as fruit originally meant for the Western European markets being “dumped” into the Polish market throughout the summer," said Rafal.
"With that being said, it looks like the European market will keep seeing low prices for at least the next couple of months and perhaps even until the end of the year. With prices being already significantly lower this year than in the two years before, the situation doesn’t look promising."
This August, banana prices have been approximately €2.50 to €3.00 cheaper per box compared to last year.
For more information:
Rafal Bury
Targban Sp. z o.o.
Tel: +48 603111015
Email: r.bury@targban.com
www.targban.com