Shipments up almost 3 per cent in January driven by strong demand in Europe, the US, Russia, East Asia and Eastern Europe
Ecuadorean banana exports grew 2.95 per cent year-on-year in January to 33.36mn boxes according to the latest data from Acorbanec.
The European Union was the biggest market, taking 32.61 per cent of the total, followed by Russia with 19.42 per cent and the US with 13.99 per cent. Other markets included the Middle East (11.36 per cent) and Southern Cone (6.84 per cent).
Export growth was mainly driven by increased demand in the EU, US, Russia, East Asia and Eastern Europe. However, lower sales were recorded in the Middle East, Africa and Central Asia.
Acorbanec said the market movements were the result of changes in global trade dynamics, greater competitiveness of Ecuadorean fruit and variations in demand from certain destinations.
“In January, banana production and exports in Central America – especially in Costa Rica, Guatemala, and Honduras – was reduced due to climatic factors, which is why several transnationals demanded more bananas from Ecuador to meet their demands, especially in the US and EU,” the association noted.
Acorbanec highlighted the strong growth in exports to South Korea, which increased by 35.84 per cent compared to January 2024. This was mainly due to the decision by that country’s Finance Ministry to extend the tariff reduction on many imported fruits and vegetables to 0 per cent to curb inflation.
Meanwhile, banana exports to Algeria fell by 93.46 per cent year-on-year in January following Ecuador’s suspension of its recognition of the Sahrawi Arab Democratic Republic (SADR) in support of Morocco. This resulted in Algeria boycotting banana imports from Ecuador, its main supplier, by not renewing import licenses.
