"The banana business is in a very complicated, difficult situation," said Alessandro Dal Bello, vice president Dal Bello-Sife. “There is a lot of product in the ports, importers had bought a lot and consumption was lower than expected, presumably".
According to Dal Bello, this is verified by the product available in supermarkets. "In many cases, there are bananas on sale that have a very high degree of ripeness, a sign that the cells are full, and we try to sell the product towards the end of its life. The prices are also lower".
With regard to quotations, "It ranges from 50 cents per kg and up, with a very wide gap depending on the quality. Because of our company policy, we purchase with great care and, thanks to our long-term experience as well as our commitment, we can guarantee quality for our customers. That's why we always have a fresh product on the market.
Forecasts for the upcoming months are not easy to make either. "Perhaps there will be a lack of product in February, but that's an assumption. The global banana market is like playing chess. However, at the moment, some events seem to imply that there will be a shortage of product in the near future. Forty days ago a volcano problem occurred in Ecuador (see Freshplaza of 09/29/2020). Then a hurricane in Honduras followed, and now another one is expected in the Philippines. Honduras also supplies the USA, the Philippines supplies Japan and the west coast of the USA. Traders will have to find the product elsewhere. In short, it's a very complicated situation", concluded Dal Bello.