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Analysis of the banana market in Spain in 2019

The supply of imported bananas in Spain almost matches that from the Canary Islands

The available supply of Canary and imported bananas in the Spanish mainland and the Balearic Islands has again reached an all-time high in the first half of 2019 (January-June), with 7,000 tons above the record figure achieved in 2016.

The volume of bananas imported from third countries into the Spanish mainland and Balearic markets is only 10% smaller than that shipped from the Canary Islands. The bananas from non-EU territories accounted for between 40% and 54% of the available supply in that period.

Development of the supply from January to June 2019
According to a report from the Customs and Special Taxes Administration of the Tax Agency, some 27,979 tons of bananas were shipped from the Canary Islands to the Peninsula and the Balearic Islands, while some 23,441 tons were imported from abroad.

Since re-exports amounted to some 7,576 tons, the total available supply reached around 43,845 tons. Compared to the previous month, the volumes from the Canary Islands fell by 28.5%, imports by 23.5% and re-exports by 16.4%, so the total available supply was 27.8% lower than in May 2019.

On the other hand, in the first six months of 2019, Spanish mainland and Balearic consumers have had access to about 333,932 tons of bananas, which is 14,222 tons more than in the same period last year (+4.4%). The archipelago shipped 1,263 tons more than in the previous year (+0.6%) and banana imports increased by 6,059 tons (+3.4%). Meanwhile, re-exports have fallen by 6,900 tons (-6.4%) in the same period.

With these volumes, the market share of imported bananas in June ranged between 36% and 53%. In the first six months of the year, this percentage oscillates between 40% and 54%, while on the same period of 2018, it stood between 37% and 55%.

As for the 23,441 tons imported in June, the average CIF price was 0.54 Euro / kilo. The largest suppliers in terms of volume were Costa Rica, with 8.1 million kilos at 0.52 Euro each; Colombia, with 6.5 million kilos at 0.50 Euro, and Cote d'Ivoire, with 3 million kilos at 0.65 Euro. These three origins accounted for 75% of all imports. It should also be mentioned that 1.3 million kilos at only 0.38 Euro arrived from France.

So far in 2019, a total of 181.6 million kilos have arrived; 52.6 from Costa Rica at 0.51 Euro / kilo; 47.9 from Colombia at 0.52, and 32.8 from Cote d'Ivoire at 0.65. Together, these three account for 73% of the total imported volume. Compared to the same period of 2018, the most noteworthy growth has been achieved by Ecuador (+196%) and Colombia (+114%).



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