Decrease in purchases of Ecuadorian bananas by its main markets
Ecuador
Saturday 29 June 2024
VU
According to Acorbanec data, banana exports decreased by 1.46% from January to May 2024 compared to the previous year (photo: adama.com).
Ecuador's banana industry has faced a reduction in exports due to the increase in the price of the fruit. According to Acorbanec data, banana exports decreased by 1.46 per cent from January to May 2024 compared to the previous year, attributed to the increase in the minimum price per box of 43 pounds (19.5 kilos) from US$6.50 to US$6.85. This led important markets to reduce their purchases of Ecuadorian bananas. This led important markets to reduce their purchases of Ecuadorian bananas.
The European Union reduced its purchases by 16.43% in January 2024, opting for alternative sources in Colombia and Central America. However, production problems in these countries led to an increase in purchases in Ecuador in March, April and May, resulting in an accumulated reduction of only 2.18% in exports to that market.
Russia showed an even greater decrease of 17.72% in the first five months of 2024, attributed to the high cost of the fruit. Despite these challenges, Ecuador exported 160.45 million boxes of bananas during the period, with the United States, Africa, Algeria and South Korea as prominent destinations with significant increases in purchases.
fuente: expreso.ec