Ecuador 27/07/2023

Increase in Ecuadorian banana exports until June

 

The Ecuadorian banana industry is now recovering after a challenging 2022 marked by losses. In the first semester, sales reached 190,065,336 million boxes, which represented a 5.42% increase compared to the previous year. The growth could have been even higher if it weren't for the poor demand by the Middle Eastern countries, which are the third-largest destination for Ecuadorian fruit.

According to data from the Banana Marketing and Export Association (Acorbanec), the markets that sustained this 5.42% increment were primarily within the European Union, the main Ecuadorian banana buyer. From January to June, 31% of the banana supply was directed to that destination, amounting to 58,488,390 million boxes, a 22% rise from the same period last year. Russia followed with 41,801,333 million boxes sold (an 8% increase), and the U.S. with 17,707,993 million boxes (9% more than last year).

Exports to the Middle East, however, present a different scenario. The slowdown in sales to this region is due to a decrease in demand from countries like Turkey. Until June, only 10,004,302 million boxes were sent to that market, compared to 13,359,496 million boxes shipped during the same period of the previous year, representing a 25% drop. According to Acorbanec, the decrease in revenues from Turkey is a result of the Turkish market now producing more bananas locally, as well as increased competition from Indian bananas, the main rivals of Ecuadorian bananas. Consequently, there's also been a decline in supply to Saudi Arabia, Iraq, and the United Arab Emirates, with reductions of 6%, 17%, and 2%, respectively.

As for export ports, 64.98% of the total fruit was shipped through different ports in Guayaquil, 12.76% via the Deepwater Port of Posorja, and 22.26% through Puerto Bolívar in Machala.

source: expreso.ec