Lower supply from Central America and Colombia favours Ecuadorean exports in March

Ecuador exported 99.47m boxes of bananas in the first quarter of 2024, a decrease of 0.4 per cent on the year-earlier period.

Ecuador bananas

The figures, published by Acorbanec, show a marked recovery in shipments during March, which helped offset the losses in the first two months of the year. Exports for January were 12.17 per cent down on same month last year, while in February, they were 3.51 per cent lower than the year-earlier period.

Acorbanec said the improved picture was down to lower supply from competing countries.

“The reduction in banana production in Central America and Colombia due to climatic factors would be one of the aspects that generated this slight increase for our country, since several transnational companies demanded more Ecuadorean bananas during the month of March to meet orders in the US and the European Union,” it said in a statement.

Of the 99.47m boxes exported, 30.79 per cent was destined for the EU, 19.24 per cent to Russia, 12.73 per cent to the Middle East, 12.22 per cent to the US and as 6.35 per cent to Africa.

Acorbanec said the results would have been better had it not been for climatic issues reducing Ecuador’s output, and the increased Minimum Support Price resulting in fewer purchases from markets like the EU.