The world demand for Ecuadorian bananas drops

Between January and February of this year, Ecuador exported to various international markets almost 2 million boxes of bananas less than the same period in 2020. This means the end of the positive trend that the sector had in recent years.

According to data from the Banana Marketing and Export Association (ACORBANEC), Ecuador exported 69.2 million boxes of bananas in the first 2 months of 2021, a decrease of 2.8%.

The most significant drops are observed in the markets of the Middle East (-37%), United Kingdom (-32%), East Asia (-17%) and Russia (-8%).

According to Richard Salazar, executive director of ACORBAEC, this trend in Ecuadorian deliveries was caused by reduction in world demand for the fruit.

Countries such as Iran, Algeria and others in the Middle East have restricted import licenses for this fruit, to control the outflow of foreign currency. Furthermore, a similar situation is observed in Russia.

As for the Asian market, China is buying more bananas from neighboring countries such as Vietnam and Cambodia, reducing its imports from America.

The European Union registers a 5% decrease in its purchases of bananas from Ecuador, due to the drop in the level of purchase of the product.

However, some markets show an increase in Ecuadorian banana imports. The United States increased its purchases by 25%, Eastern Europe showed an increase of 33%, the Southern Cone (Argentina, Uruguay and Chile) with 12%, and Africa doubled its purchaces.

In 2021, the European Union remains the main destination for Ecuadorian bananas, followed by Russia, the Middle East, and the United States.

source: vistazo

photo: eltelegrafo