Europe – The banana survey – Week 25
Heatwave spreading across Europe, speeding up market deterioration.
Temperatures have climbed rapidly, reaching very high levels for the season, especially in Southern Europe. Hence the lack of interest in the banana has deepened, in favour of seasonal fruits, available in large quantities.
In addition, with the end of Ramadan and the school holidays already in progress (Italy, Spain), demand has also been affected. In this context despite the overall supply falling, supply has outstripped demand. For the dollar banana, Ecuadorian exports to Europe have been limited and below average, while Colombia and Costa Rica have continued their seasonal fall. Furthermore, the combined Africa/ French West Indies Supply has also waned, though still maintained above-average levels (+12%).
In this context stocks have been available throughout Europe, mainly in the South (France, Italy, Spain), in the East, and to a lesser degree in the North (Germany). The rising pressure has accelerated the fall in prices, especially in Eastern Europe where clearances from the West have been made at competitive prices. Finally in Russia, the market has maintained a satisfactory price level because of moderate incoming shipments and demand remaining lively.