Shipments up 1.57 per cent despite climatic issues hitting production, Acorbanec said
Ecuador exported 364.73mn boxes of bananas in 2024, an increase of 5.06mn boxes (1.57 per cent) on the previous year, according to Acorbanec.
The association said climatic issues such as higher solar radiation during the day and excessive rainfall in some producing areas had reduced yields per bunch in the first nine months of the year by around 15 per cent. However, this was mitigated by new acreage coming into production.
The European Union remains the main destination for Ecuadorean bananas, absorbing 29.06 per cent of total exports, followed by Russia with 19.01 per cent, the Middle East with 13.39 per cent, and the US with 11.83 per cent.
Acorbanec noted that exports to South Korea grew 240.66 per cent between January and November, mainly due to a decision by the Korean government to reduce tariffs to 0 per cent in the first half of the year to curb rising inflation. This tariff reduction will continue during the first half of 2025.
Additionally, significant export growth was seen Italy (+40.99 per cent), the US (31.90 per cent), Algeria (+18.53 per cent), Saudi Arabia (+21.03 per cent) and Georgia (+28.63 per cent), among other markets. Exports to the US grew 31.90 per cent.
Exports to Russia showed were down 8.78 per cent for the year, mainly due to economic problems arising from the war with Ukraine. The impact of sanctions by the US and European Union led to a high devaluation of the rouble, affecting consumer purchasing power.
