Panama Canal Increasing Transit Slots Amid Improved Water Levels

2024-03-22

The Panama Canal Authority (ACP) has announced an increase in the number of daily transit slots available in the older Panamax Locks. The measures come in response to the current and anticipated water levels of Gatun Lake and increased demand for transit slots.

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Trader Joe’s Increases the Price of Its Notably Affordable Bananas

2024-03-22

Trader Joe’s has been known for selling its bananas at a mere 19 cents—until now. Over the past few years, while prices for many grocery products have soared, one essential item at Trader Joe’s has notably resisted inflation: bananas. These individual bananas, priced at just 19 cents, have gained popularity as one of the retailer’s most exceptional deals. However, in a significant shift, customers are about to face higher prices for these affordable fruits.

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FESCO Delivers First Shipment of Bananas from India for X5

2024-03-15

The Russian maritime company, Far East Shipping Company (FESCO) transport group, whose parent company is PJSC Far Eastern Shipping Company, has delivered its first shipment of bananas from India to the port of Novorossiysk in the Black Sea. The customer for the shipment was X5 Import, part of the X5 Group. The shipment, weighing 22 tonnes (over 1,500 boxes), was loaded at an exporter’s warehouse in Maharashtra, India, into a forty-foot Dalreftrans refrigerated container (part of FESCO).

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Average Bananas Selling Prices in USA – Value in US$ per box

2024-03-15

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers. FOR SUBSCRIPTIONS AND ADVERTISEMENT PLEASE CONTACT admin@novamedia.ws

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Asbama, with a Notable Presence at the FAO World Banana Forum

2024-03-15

The Magdalena, Cesar, and La Guajira Banana Growers Association (ASBAMA) had a prominent presence at the Fourth Global Conference organised by the FAO in Rome, Italy. The executive president of ASBAMA, José Francisco Zúñiga Cotes, participated in the event, and he was part of two important panels: one on "Small Producers in the Global Banana Industry" and another on "The State of Recent Banana Sproutings". TR4 and Current Actions".

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Market Overview- Week 11 / 2024

2024-03-15

In week 11, the selling prices for Ecuadorian bananas in St. Petersburg ranged from USD 17.0 to 18.10 per box CIF. These prices varied based on factors such as brand, quality, volume, and type of packing. Low demand impacted sales. During this week, approximately 2.059 million boxes were discharged. For week 12, around 1.730 million boxes are anticipated to be discharged. The exchange rate during this period was 1 USD = 91.64 RUB. Selling prices in the Mediterranean for Ecuadorian bananas were USD 19.0-20.0 per box CIF, depending on brand, quality, volume, and region. Prices peaked up to USD 20.0-21.0 in Libya. Central American or Mexican Bananas: These were sold at around USD 18.0 per box CIF. Mersin Free Zone Prices: Prices varied from USD 16.0 per box for the re-exported Ecuadorian bananas to USD 18.75-19.0 per box for the same origin, depending on brand, volume, and quality. Bananas from Central America were sold at around USD 12.50-15.0 per box.

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Bananas Exported from Ecuador-January 2024

2024-03-15

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers. FOR SUBSCRIPTIONS AND ADVERTISEMENT PLEASE CONTACT admin@novamedia.ws or info@sopisconews.online

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Reefer Shipping Rates rise Temporarily, According to Drewry

2024-03-15

The recent surge in reefer shipping rates is anticipated to be temporary as the industry adjusts to vessel rerouting and deploys excess containership capacity to accommodate longer transit times. While the ongoing cargo rerouting continues to cause delays and complexity in repositioning reefer equipment, it is expected to have a short-term impact on freight rates.

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Argentinean Banana Producers Oppose Import Liberalisation and Unfair Competition

2024-03-15

Pánfilo Ayala, president of the Laguna Naineck branch of the Argentine Agrarian Federation, criticised the national Government's decision to open imports of certain foodstuffs, including bananas. He argued that this move legalises the damage to local banana production, which has always been free. Presidential spokesman Manuel Adorni stated that the decision to open imports of certain products definitively aims to make prices more competitive through some tax reductions.

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Bananas Exported from Ecuador-January 2024

2024-03-15

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers.

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Colombia: Insecurity and Strikes Affect the Banana Industry in Magdalena

2024-03-15

Insecurity and strikes in Colombia have affected the productivity of the banana sector. According to José Francisco Zúñiga, president of Asbama, these factors resulted in the sector growth of only 1.8% in 2023 instead of the expected 5%. During the strike in La Guajira, around 200,000 boxes of bananas were stopped from being exported. In addition, the presence of illegal groups has increased, threatening workers and transporters in the sector.

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Fyffes' Emphasis on Organic Banana Segment

2024-03-15

Fyffes, a leading global importer and tropical product distributor, strategically emphasises its organic banana segment as part of its marketing strategy. This move aligns with the growing consumer shift towards healthier choices and a wellness-oriented lifestyle, where fresh fruits play a crucial role. Ahiby Rodriguez, Fyffes North America's trade marketing manager, notes the rising interest in organic products. This interest dovetails with Fyffes' objectives for market growth, brand enhancement, and sustainability commitment.

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Italy: Orsero 2023 revenues at 1.54 billion (+29%) and net profit at 48.1 million (+48%)

2024-03-15

The fruit and vegetable giant Orsero closed 2023 with revenues of 1.54 billion euros, an increase of 28.8% compared to the 1.2 billion of the previous year. Net profit stood at 48.1 million, with an increase of 15.7 million (approximately +48.3%) compared to 2022. The adjusted gross operating margin (EBITDA) rose to 107.1 million (+40.8 %), «settling within the guidance range (105-110 million) ». The board of directors proposed to the meeting called for April 29, a dividend of 0.60 euros per share, an increase of 71.4% compared to 2022.

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France: 26,000 Tonnes of Bananas Ripen at the Zac d’Aquitaine

2024-03-15

Since its establishment in November 2022, Fruidor (Solveg group) has been operating at the ZAC d’Aquitaine in Saint-André-de-Cubzac. On March 5, the company welcomed Céline Maquet, the sub-prefect of Blaye. The state representative visited the premises along with several elected officials, including Valérie Guinaudie, president of the CdC du Grand Cubzaguais. Nicolas Rouet, the site director, showcased the impressive facilities that receive 26,000 tonnes of bananas annually, contributing to the group's total of 200,000 tonnes.

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Chiquita and Daikin Reefer: A Flourishing Partnership

2024-03-15

The longstanding partnership between Daikin Reefer and Chiquita has been a pillar of innovation and reliability in the global shipping industry. This collaboration, which began in 2018 with Chiquita's initial investment in Daikin's ZeSTIA units, has continuously evolved to meet the rigorous demands of perishable cargo transportation. Chiquita, a leading grower and distributor of bananas, operates a significant shipping fleet through the reputable ocean carrier Great White Fleet. With banana cultivation centres spread across Latin America, Chiquita primarily targets the North American export markets.

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