Supplies of bananas seem to be steady as is demand for the fruit. However demand for a cousin of bananas--its starchier counterpart, plantains--seems to continue to grow. “We haven’t seen a tightening of the regular banana supplies though we are seeing that happening more on the plantain side,” says Ryan Knight of Tomasino Farms, who also operates FoodTrader.
The latter portal is where it offers a number of exotic fresh items but also processed exotic items, including frozen plantains but also plantain flour, frozen banana leaves, banana flakes, banana gel and more. “The impact of foreign competition has made the road tough for some growers, so we’ve worked to support these growers by assisting in promoting products like these doughs, flours, frozen leaves, etc.,” he says. “Ingenuity, innovation and technology are allowing small to medium companies the opportunity to export Costa Rica to the world and we are incredibly happy to be part of this effort. Whether the coming harvest is higher as some predict, stays the same, or is even lower, just give us a call.”
“In frozen plantains particularly, we’ve seen a steady increase in price and a pretty protracted decrease on availability. That’s been an issue as of late,” says Knight. “We have seen more of our frozen plantain shipments delayed or canceled due to some bidding wars that have occurred at the farm level. On plantains, it’s more of a seller’s market because there is strong demand. They’re getting more of what they want from a pricing standpoint.” He adds that it’s not seeing a similar pattern necessarily in fresh plantain shipments.
Left: bananas; right: plantains
Using the fruit differently
However, the increased demand on plantains particularly is indicative of what’s happening with the palates of residents of the U.S. and the diversification of its population. “This shows you that people are diversifying in what they’re eating. People are using both bananas and plantains in more and more ways,” he says.
In all, while banana pricing does seem higher right now, a strong and robust banana market lies ahead, adds Knight, adding that the seven-year average on retail pricing for bananas sits at .58 cents/lb. “Looking into next year the possibility of greater equilibrium does exist. Costa Rican buyers should consider working under contracts when the possibility of tighter supply exists,” he says. “Costa Rica bananas are not always competitive on price yet they are at the top when it comes to quality.”
For more information:
Ryan Knight
Tomasino Farms, Inc.
Tel: +1 (786) 802-1904
ryan@TomasinoFarms.com https://tomasinofarms.com/