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Aldi banana price rise might be a turning point

For some twenty years, German discount retailer Aldi, present in thirty countries worldwide, has more or less set the benchmark price for fresh bananas in the European market. On 1st December, an agreement on the 2022 contract price finally was reached after particularly protracted and controversial negotiations with suppliers. Next year’s contract prices have risen significantly, by 9 eurocents per kilo compared to 2021.

However, according to Banana Link International Coordinator Alistair Smith, the 2021 price was the lowest price ever seen. That is why, in the second half of the year, most of the leading Latin American, Caribbean and African producers’ and exporters’ organizations denounced the hypocrisy of a major buyer that wants more and more social and environmental standards to be met whilst paying less and less in its annual negotiations.

The rise, which is estimated to be from an average of 11.50 euros per box this year to an average 13.30 in 2022, sounds significant, but as Reefertrends, who reported the move, stated: “While the increase has been broadly welcomed, whether the value at retail can cover the minimum price demanded by governments and producers alike is contingent on by how much trade related supply chain costs have also risen.“

This means that it is still unsure whether this increase for 2022 really covers more of the costs of production than the 2021 historical low.

Source: bananalink.org.uk


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