Oversupply reduces the price of bananas in the world
The largest production of bananas in Central America continues to pull down prices. Daily Expreso confirmed along with exporters that the amount paid by spot producers per box is up to $ 3.50.
The trend that show specialized firms is a reduction in the Mediterranean and Russia, which are strong markets for Ecuador, the leading exporter. Last week the price crisis hit Eastern Europe and Turkey.
Ecuadorian authorities still need to define the new price of the 43 pound box of fruit, so far it is $ 6.55. According to the specialized website Freshplaza, multinationals are increasingly opting for bananas of Guatemala, Nicaragua and Mexico.
The statistics of the Association of Banana Exporters (AEBE) show a slowdown in exports. Between January and September 2015 they rose 8.04% to 239’846.711 cartons. In 2014 at that time they had increased by 17% (32.7 million boxes).