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Ecuadorian banana shipments to South Korea grow 276% through May
Ecuador
Saturday 29 June 2024
VU
Shipments of Ecuadorian bananas have shown good growth in South Korea, tripling from January to May this year with an impressive 276% increase, according to Acorbanec (photo: tridge.com).
Shipments of Ecuadorian bananas have shown good growth in South Korea, tripling from January to May this year with an impressive 276% increase. This raised exports to more than 2 million boxes, compared to 532,000 boxes for the same period in 2023, according to Acorbanec. This success is largely due to reduced production in the Philippines, the former leading supplier, affected by diseases such as Fusarium race 4 and sigatoka.
Although total exports decreased slightly by 1.46% to 160.45 million boxes to all destinations, the outlook for South Korea is optimistic. Richard Salazar of Acorbanec anticipates sustained growth, given the production decline in the Philippines. In addition, the trade agreement between Ecuador and South Korea, in force since 2025 and phasing out the tariff on Ecuadorian bananas by 2030, is expected to further strengthen exports.
Algeria and the United States have also increased their demand for Ecuadorian bananas, with increases of 65% and 30% respectively, due to production problems in Colombia and Central America. However, Ecuador faces climatic challenges that have affected its own banana production, while markets such as Russia and China have reduced their demand. These challenges underline the importance of diversifying markets to strengthen the global position of Ecuadorian bananas.
fuente: eluniverso.com
