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Ecuador’s banana exports grew significantly in 2024, particularly to the Middle East, with shipments reaching Qatar, Jordan, Iraq, Saudi Arabia, and Syria. The country’s commercial ties with Chile helped secure reliable distributors in these markets. However, logistical challenges, including transit times exceeding 90 days due to geopolitical tensions and trade route blockades, posed risks to product quality. Additionally, security concerns in Ecuador and the ongoing threat of banana moko disease required stringent preventive measures. Despite these challenges, the industry maintained price stability, with a minimum spot price of USD 5 per box, while continuing to expand its market reach.
In Feb-25, Peru’s fresh banana exports totaled 11.7 thousand tons, generating USD 9.26 million, a 19% year-on-year (YoY) decline in volume and a 23% YoY drop in value. The average price fell by 4% YoY to USD 0.79 per kilogram (kg), largely due to weaker demand in key markets. The Netherlands, the top destination with a 31% share, saw a 22% YoY decline in volume to 3.8 thousand tons. Accounting for 23% of exports, the United States (US) recorded a 12% YoY decrease in volume and a 23% YoY drop in value. Meanwhile, Panama, the third-largest market, imported 1.2 thousand tons, experiencing a slight 3% YoY decline in volume but a 3% YoY rise in value as prices increased by 6%.
The Russian government is considering classifying bananas as an agricultural crop, which could grant producers access to state support. While bananas have not been grown on an industrial scale in Russia, the Ministry of Agriculture is evaluating the matter, with a decision expected soon. In the Stavropol Territory, an investment project is underway to develop 15 hectares (ha) of greenhouses in Nevinnomyssk, with a planned investment of USD 15.3 million. If logistical and technical challenges are resolved, banana production in the region could begin by 2026, marking a significant shift in Russia’s agricultural landscape.
Despite ongoing government support, Saint Lucia’s banana industry faces mounting challenges due to labor shortages and an aging farmer population. Of the 450 active banana farmers, only about 150 operate at a commercial level, limiting productivity and expertise.The labor shortage hampers essential farming activities, including harvesting and disease control efforts against Black Sigatoka, a fungal disease that damages banana leaves, reduces yields, and requires intensive management.Additionally, market difficulties persist, with recent shipment rejections in Barbados further straining exports. While government subsidies provide temporary relief, concerns over the industry’s long-term viability continue to grow.
Banana prices in Taiwan have surged following a 46% YoY drop in production due to last year’s typhoon damage, but they are expected to stabilize by next month. The government has ruled out imports and is instead partnering with supermarket chains like PX Mart and Carrefour to offer lower-priced produce sections, to support domestic growers. Most of Taiwan’s bananas come from Kaohsiung, Pingtung, and Nantou counties, with the current supply originating from mid-2024 plantings. Authorities are working closely with producers to accelerate the next harvest and restore market stability while urging consumers to remain patient.
In W11, banana prices in Ecuador rose by 7.69% week-on-week (WoW) to USD 0.28/kg due to strong demand from Middle Eastern markets, where importers secured shipments ahead of Ramadan, boosting short-term purchasing activity. Additionally, limited spot availability, driven by logistical constraints and longer transit times, contributed to the price increase. However, banana prices dropped by 3.45% month-on-month (MoM) and 22.22% YoY due to high production levels outpacing demand growth, leading to an oversupply in the market despite export expansion. The persistent security risks and the threat of banana moko disease have also impacted market sentiment, prompting buyers to negotiate lower prices amid uncertainty over future supply stability.
In W11, Banana prices in the Philippines remained stable,with no price changes,since W8 at USD 1.27/kg due to balanced supply levels and steady domestic demand. However, export demand from China remained sluggish amid ongoing geopolitical tensions in the West Philippine Sea, limiting price movements. Additionally, the persistent spread of Fusarium Wilt Tropical Race 4 (Foc TR4) continues to challenge production, increasing costs for growers and affecting overall yield potential. Meanwhile, heightened competition from Latin American suppliers in key markets has further restrained any upward price momentum, keeping Philippine banana prices unchanged for the week.
Colombia's banana prices declined by 4.17% WoW and MoM to USD 0.46/kg in W11, showing a 9.80% YoY drop due to sustained pricing pressure in the European market, where increased supply from competing Latin American producers has intensified competition. Additionally, logistical inefficiencies, including port delays and infrastructure constraints, have continued to disrupt export operations, affecting market stability. The rising costs associated with stricter phytosanitary measures to control Foc TR4 have further strained profitability for growers. While demand from the US and Europe remains stable, ongoing cost pressures and supply chain disruptions have led to the continued downward trend in prices.
In Guatemala, banana prices in W11 held steady at USD 0.22/kg due to stable export demand from the US and Europe, which has helped maintain price levels despite fluctuations in regional supply. Favorable weather conditions in recent weeks have supported consistent production, preventing any immediate price changes. However, YoY prices still surged by 15.79% due to lower production volumes earlier in 2025, which tightened supply and led to sustained higher price levels. Additionally, elevated input costs, including rising fertilizer and labor expenses, have contributed to the overall increase in production costs, keeping prices from declining significantly.
Banana wholesalers and retailers should diversify sourcing within Taiwan by strengthening ties with growers in less-affected regions like Taitung and Hualien. Supermarkets can introduce promotions on alternative fruits, such as papayas and pineapples, to balance consumer demand while prices adjust.
Banana cooperatives and exporters should invest in mechanized farming tools to reduce dependence on manual labor and improve efficiency in harvesting and disease management. Additionally, industry stakeholders can collaborate with agricultural training programs to attract younger farmers and equip them with modern cultivation techniques.
Sources: Tridge, Akmu, European Commission, Freshfruit, Freshplaza, Taipei Times, Loop News
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