Prices of imported bananas in Europe are historically low, and the trend should last.
Less than 10 euros [12 USD] per box of 18.5 kg this summer. An extremely low price which was last seen in 2011 on the continent.
The situation could be the result of a very abundant supply. Planting has increased in the past years, especially in the dollar banana regions across the Atlantic. Additionally, exports from the 4 major Latin-American suppliers (Ecuador, Costa-Rica, Guatemala and Colombia) have exploded, as explained by RFI.
However, these prices are affecting mostly the professionals located in areas where the productions are less competitive because they are subject to stricter social and environmental standards. These small structures, less inclined to be able to respond to the offers from European distributors would therefore be doomed to disappear.
According to Denis Loeillet, researcher at Cirad (Center for International Cooperative in Agricultural Research for Development), the margins of producers, importers and ripeners are close to zero and putting the sector in danger.
The same goes for organic bananas
The gap between the price of conventional vs. organic bananas is becoming more and more narrow. “We would like to know how suppliers manage to get so low!”