Why are Ecuadorian banana exports falling?

Ecuadorian banana shipments have experienced a drop in the first months of 2024, with a decline of 3.51%, according to the Association of Banana Marketing and Export (Acorbanec) and 2.76%, according to the Association of Banana Exporters of Ecuador (AEBE). This decline is attributed to several factors, such as congestion in the Panama Canal, which has impacted shipments to the United States, a crucial market, with a 0.37% drop.

 

In addition, demand for bananas has declined in key markets such as the European Union, down 6.88%, and Russia, down 21.82%. These markets account for 60% of Ecuador's banana exports. Inflation and high prices have influenced the decrease in consumption in the European Union, while the increase in the minimum banana support price has led this market to opt for imports from other countries such as Colombia and Central America, explained Richard Salazar, director of Acorbanec.

 

Adverse weather conditions, declining demand in important markets and phytosanitary challenges in Russia have contributed to the overall decline in exports. Attacks by Houthi groups in Yemen on cargo ships in the Red Sea have also impacted exports to the Middle East, causing delays and market saturation that has reduced purchasing volumes.

 

 

 

 

 

fuente: agraria.pe