"Italy: "A weak market for bananas in early 2013"

Based in Italy, the company Fratelli Santini is one of the largest centers for banana ripening in Italy, with over 8,000 square meters with 42 cellars for ripening of bananas (for a capacity of 65,000 cartons) and 10 for fruit storage.

Fabio Santini comments on the banana season: "In 2012 we significantly increased (+50%), the share of bananas purchased from African producing countries such as Ivory Coast and Ghana. This is a result of lower supplies from Costa Rica and Colombia, where climate and plant disease problems have hampered production."

Fabio explains that at this time the price of bananas in Africa show an upward trend against the Ecuadorians, whose values are in decline: "The price for a box of bananas from Ecuador is about 9/9.5$ FOB. When the product arrives in Italy it also includes transportation costs and increases to 14-15 Euro. The selling price for distribution in traditional markets (normal trade) is about 0.80 to 0.85 €/kg, a value which unfortunately is not that competitive when compared to the supply of bananas in the category Chiquita sold at a fixed price of 1.10 €/kg - about 19.5 Euro/box. the price difference is so low that the branded product is still preferred."

Compared with a year earlier, banana prices are still weak, declining by about 2-3 dollars: "This is due to a lackluster demand. 2013 has a subdued start and we do not expect great things for the rest of the season," says Fabio.

The company currently handles over 40,000 tonnes of bananas a year and plans to further increase the volume. In addition, the Santini Brothers Company is expanding in the field of packaged fruit and vegetables.

Contacts:
Fratelli Santini Srl
Via Borgo Palazzo, 207
24125 Bergamo - Italy
Sales office:
Ph.: +39 (0)35 3233 411
Fabio Santini
Email: santini.fabios@gmail.com
Web: www.fratellisantinisrl.it