Europe – The banana survey – Week 41

Stability and balance on the European markets.

Despite French West Indies shipments in shortfall (66% below average), the overall supply has remained high because of simultaneous increases in African, Costa Rican and Colombian volumes. First of all, African origins have continued their seasonal increase, registering slightly above-average levels (+5%).
Secondly, Colombia has reached its production peak, with high levels persisting. Finally, Costa Rican volumes have continued to increase, reaching good levels. In addition, incoming shipments from Ecuador have maintained average levels.
However, sales have continued to accelerate in Western Europe, because of a context free from competing fruits, promotions in place and cooler temperatures. Hence the markets have managed to absorb the incoming volumes, and have exhibited a better balance.
In this context, prices have continued to slowly strengthen, regaining levels closer to average though still disappointing. East European markets have maintained a fragile balance because of incoming shipment levels remaining high, and ongoing slow demand. Hence prices have stopped rising, remaining well below average for the season.