Banana surplus crisis in the Canary Islands

The banana sector in the Canary Islands is going through a crisis due to overproduction that has forced the destruction of 13.2 million kilos of fruit so far in 2024. Weekly, 8.5 million kilos are harvested, but the market can only absorb about 7 million, which generates a surplus of 18%. Despite European aid, which compensates part of the production costs, farmers do not cover their expenses, which are between 0.70 and 0.80 euros per kilo.

 

 

 

To avoid further losses, 600,000 additional kilos are expected to be eliminated next week, bringing the amount destroyed between August and September alone to 7 million. Banana competition in foreign markets and the saturation of the domestic market further complicate the situation, which, although it can be mitigated with new regional regulations, requires deeper solutions.

 

 

 

Given the impossibility of marketing the entire production, part of the banana is donated to charities such as the Food Banks. However, the sector needs long-term structural measures to ensure its viability and sustainability.