Ecuadorean banana exports during the first seven months of 2020 increased by 8.09% over the same period of 2019, totaling 230.32 million boxes. This increase was due to the increase in exportable supply and to an increase in demand in the different markets.
According to data from the Banana Marketing and Export Association (Acorbanec), the European Union was the main destination for Ecuadorian fruit, with 28% of total shipments, i.e. 11.19% higher than in the first seven months of last year.
Ecuadorian banana sales to Russia rose by 2.39%, sales to the Middle East increased by 19.89%; sales to the Southern Cone grew by 5.97%; sales to Eastern Europe increased by 27.50%; sales to Africa grew by 22.53%; sales to the United Kingdom increased by 6.13%, and sales to EFTA increased by 20.22%.
However, US purchases decreased by 1.84%; sales in East Asia fell by 8.81%, and to Oceania decreased by 6.13%.
"The increase in shipments up until July has not led to higher revenues for the sector due to the drop in prices that continues to affect the markets; especially in the Middle East, China, Eastern Europe, a part of Russia and Africa. These are economies that depend on oil, and the cost of a barrel is still very low and it has had large devaluations," stated Richard Salazar, the president of Acorbanec.
According to Acorbanec, the main seller of bananas in the first half of the year was UBESA (DOLE) with a participation of 11.11%. It was followed by Reybanpac with a 6.84% share and Frutadeli SA with a 4.83% stake.