September and October 2019

High prices for Canaries bananas

In September and October 2019, green Canaries bananas reached high prices in the Peninsula, as local farmers have even been paid more than 1.2 euro per kilo, just as in the weeks of last October. In addition to this income, from which production costs have not been discounted, producers also obtain Posei aid (in semiannual payments), which amounts to nearly 0.38 euro per kilo (with a maximum annual of 141 million of euro for all producers).

The situation is good especially because of the shortage of fruit from the islands in the markets of the Peninsula and Balearic Islands in those two months, which has led to an increase in prices for yellow bananas in central markets, such as Mercabarna, where the average reached by the Canary fruit in October was 1.89 euro per kilo. The trend continued in November, but a downward correction is already visible due as the harvest has increased to more than seven million kilos per week.

In the months of September and October, especially in the latter, the Canarian banana has become a great business, to the point that producers seem to have forgotten about the desired profitability of the avocado.

The majority of imports come from Costa Rica, Colombia, and the Ivory Costa
The average CIF price of the 28,055 tons of bananas imported in September was 0.56 euro per kilo. The 9.4 million kilos imported from Costa Rica cost 52 cents per kilo; the 6.4 million kilos imported from Ivory Coast cost 0.66, and the 6.2 million imported from Colombia stood at 52. These three origins accounted for 79% of all Spanish imports.

So far in 2019, imports increased to 252,473 million kilos. The fruit from Costa Rica stood at 0.51 euro per kilo; the one from Colombia at 0.52, and the one from Côte d'Ivoire at 0.65. These three countries accounted for 75% of all the volume imported. When compared to the same period of the previous year, Colombia (+96%) and Ecuador (+88%) almost doubled their share.



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