Canary Island banana rebounds after a year of depressed prices

The Canary Islands banana, with Protected Geographical Indication, has experienced a significant price recovery since February 2024, after more than a year of crisis with values below production costs, reports a Spanish media.

In the week of March 10-16, 2025, Canary Island producers received an average of 1.19 euros per kilo, comfortably exceeding the average cost of cultivation, estimated between 0.60 and 0.70 euros per kilo, which represents a gross profit margin of close to 0.50 euros per kilo, excluding public aid.

The wholesale price in the Peninsula ranges between 1.65 and 1.70 euros per kilo, which translates into retail prices above 3.50 euros per kilo, while in the Canary Islands are around 2.50 euros.

This rise is due to a lower supply of bananas and the reduction of shipments from the islands, which have fallen from more than 8 million kilos per week to 6.4 million expected for the last week of March.

The islands' domestic market is also showing good results, with 44 million kilos sold locally.

The rise in prices benefits farmers, although it represents a challenge for consumers, especially on the mainland, where bananas compete with bananas that are up to two euros cheaper per kilo.

It should be noted that in 2024, 425 million kilos of Canary bananas have been marketed, of which 360 million were sent to the Peninsula and only 13 million were exported outside the country, mainly to Morocco.

source: eldiario.es

photo: tiendasecologicastenerife.es