Europe Trend Week 15

Pressure extending to all of the European markets, greatly accentuating the seasonal fall in prices.

Whereas the signs of the traditional slowdown in demand have started to be observed, the sales tempo has remained livelier than in previous years because of the weather remaining sluggish and the weak competition from seasonal fruits. However, while incoming volumes have continued to rise, overlaps in shipping are ramping up the market pressure in both Western and Eastern Europe. On the one hand, while the French West Indies remain well into shortfall, African volumes have regained levels 8 % above average.
On the other hand, and most importantly, incoming Ecuadorian shipments have remained above average while Costa Rican volumes have continued to rise. Finally, Colombia has reached its production peak at average levels. Hence the market pressure already observed in Eastern Europe has now spread to Western Europe. In this context prices have registered a significant fall on all markets, back to below-average levels after a number of weeks of very high prices. In Russia, the market has collapsed because of a drastic fall in demand.
Finally, in Spain, despite the heterogeneous quality of the Canaries supply, the market is maintaining some balance because of lively demand.