European banana prices were up by 16 per cent over the summer, according to figures from Chiquita.
The US giant said banana prices in the EU, Norway, Iceland and Switzerland were recorded for the first two months of the company’s third quarter in 2005, and were compared with the same period last year.
Chiquita attribute the increase to expanded sales of premium-label volumes in eastern Europe, competition for import licenses, a reduced supply of bananas from protected sources and the impact of higher delivery costs for fuel and shipping.
Chiquita say the volume of bananas sold in European markets had fallen nine per cent in the first quarter as the company sold less second-label fruit during a period of tight license availability.
