Demand for bananas has 'significantly grown' in Russia and Ukraine, a trend which is in stark contrast to markets in the European Union, according to new figures reported by Fruit-Inform.
According to the analyst, the two eastern European countries have been responsible in part for avoiding a total collapse in the international market for bananas, which remains under extreme pressure.
Fruit-Inform analysts estimated that cumulative banana imports into Russia and Ukraine were above 800,000 tonnes in the period January to May 2013, a record figure.
Imports are reckoned to be around 16 per cent higher year-on-year at present, and 29 per cent above the five-year average.
'Such a sharp increase in imports in Russia and Ukraine is connected with historically low prices of bananas and a delay of two weeks in the European berry, stonefruit and early vegetable season,' commented Tetiana Getman, head of Fruit-Inform.
'At the same time, we expect the banana market to be forced to reduce prices again already in late June, as the EU and Russian market participants will start mass supply of inexpensive fruits, berries and vegetables, which will significantly affect the demand for bananas.'
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