Bananas Exported from the Philippines – Q1/2024

2024-06-14

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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One Banana participates at the OPS In Monterey

2024-06-14

One Banana eagerly awaits participating in the highly anticipated Organic Produce Summit (OPS) next month. This year has been a significant milestone for our vertically integrated family business as we launched Planeta. This new sustainability strategy will drive substantial change and redefine sustainable food systems. At OPS, One Banana is excited to expand its network and proudly showcase its sustainably grown fresh bananas, including premium and organic varieties.

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Ecuadorian Bananas Enter China with Lower Tariffs Due to FTA

2024-06-14

The first shipment of Ecuadorian bananas, benefiting from the trade agreement signed with China, which took effect on May 1, has already arrived in the Asian country. Richard Salazar, the executive director of the Association of Marketing and Export of Bananas of Ecuador (Acorbanec), confirmed this. The bananas that left Ecuador by sea arrived in China between June 5 and 8. He explained that the transit time for this cargo from Ecuador to China is approximately 35 to 38 days, depending on the destination ports.

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Bananas Exported from Ecuador – By Loading Port

2024-06-14

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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Panama Canal plans to build a new reservoir

2024-06-14

The Panama Canal facilitates approximately 5% of global trade ($270 billion worth of cargo annually). It aims to make its comprehensive reservation system for ships desiring to traverse it "more permanent." It is also considering the construction of a new reservoir to enhance its capacity. Despite the challenges posed by the drought triggered by the El Niño phenomenon, the Panama Canal has shown remarkable resilience.

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Hurricane Forecast Points to a Dangerous 2024 Atlantic Season

2024-06-07

The 2024 Atlantic hurricane season starts on June 1, and forecasters predict an exceptionally active season. If the National Hurricane Center's early May 23 forecast is correct, the North Atlantic could see 17 to 25 named storms, eight to 13 hurricanes, and four to seven major hurricanes by the end of November. That's the highest number of named storms in any NOAA preseason forecast.

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Market Overview – Week 23/24

2024-06-07

From Monday to Wednesday, banana prices in St. Petersburg ranged from USD 21.10 to 20.55 per box CIF. However, starting Thursday, prices began a downward trend, dropping to USD 20.00-18.85 CIF. Banana sales were impacted by high temperatures and the availability of large volumes of summer fruit at competitive prices, which is typical for this time of year. Approximately 990,000 boxes were discharged in week 23, and around 1.41 million boxes are expected for week 24. The exchange rate was 1 USD = 88.76 RUB. In the Mediterranean, Ecuadorian bananas were sold at approximately USD 17.50-19.00 per box CIF. The price varied depending on the brand, volume, region, and packing. In contrast, Central American fruit was sold at around USD 2.00 less per box. In the Mersin Free Zone, prices ranged from around USD 17.50 per box to USD 19.50-20.00 for re-exported bananas of Ecuadorian origin. The price depended on the brand, volume, weight, and packing. Central American fruit was priced around USD 14.00-17.50 per box.

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Asprocan launches a guide on biological control of Plátano de Canarias

2024-06-07

The Association of Banana Producers Organizations of the Canary Islands (Asprocan) has launched the Guide to Biological Control and Biodiversity in the Cultivation of Canary Island Bananas, "Platano de Canarias", which compiles the findings of the 'Canary Island Bananas and the Challenges 2030' project. The project carried out in collaboration with the Canary Institute of Agricultural Research (ICIA), aims to promote the biological control and biodiversity of crops on the islands.

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Colombia Secures Its Banana Crops Due to the La Niña Phenomenon

2024-06-07

The Colombian Government, through the Fund for the Financing of the Agricultural Sector (Finagro), has made available $66,000 million to subsidize insurance policies that help mitigate the adverse impacts on productive activities. Currently, through Finagro, up to 95% of the cost of an agricultural insurance policy is subsidized, providing farmers with support in case of crop losses. Recent data shows the effectiveness of the insurance policies. In just two months, Finagro has committed 55% of the $146,500 million assigned by the Ministry of Agriculture this year to subsidize the purchase of policies through the Agricultural Insurance Incentive (ISA).

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Maersk Strengthens Logistics Presence in Colombia

2024-06-07

Maersk is bolstering its presence in Colombia with the inauguration of a container logistics centre spanning 44,000 m2 in Tocancipa, reinforcing its commitment to expanding its logistics footprint in Colombia. The logistics centre is part of the company's planned expansions in the country, aimed at providing enhanced warehousing and logistics solutions to customers seeking agility and flexibility in their supply chains.

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Hapag-Lloyd Launches Citrus Express Service

2024-06-07

Hapag-Lloyd has collaborated with South African citrus growers to launch the 'Citrus Express' service from Durban and Port Elizabeth ports. This weekly service operates directly from Durban and Port Elizabeth to the Hapag-Lloyd terminal in Tangier. From Tangier, the citrus is transshipped to all destinations in North Europe, the Mediterranean, the United States East Coast, and Canada.

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Hapag-Lloyd and Maersk Resume Services To Ukraine's Ports

2024-06-07

After the Russian invasion, Maersk and Hapag-Lloyd resumed their services at Ukraine's key Black Sea ports. Hapag-Lloyd initiated a sea shuttle service between Constanta and Chernomorsk, while Maersk, in collaboration with Iteris, launched Ukraine's first deep-sea container service. MSC Mediterranean Shipping is planning to restart feeder service offerings to the port of Odesa, with the first call scheduled for mid-June this year.

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Filipino exports risk Beijing's coercion amid the South China Sea row

2024-06-07

The Philippines faces the risk of China's economic coercion, which might affect the country's banana exports. This risk arises as their bilateral trade balance heavily favours Beijing amidst the ongoing maritime dispute between the two nations. According to the Philippine Statistics Authority, China was the largest importer of goods from the Philippines the previous year, with a total value of US$29.4 billion.

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India: Banana Crops Suffer Damage

2024-05-31

The state is in scorching heat, leading to highly unpredictable weather conditions. The renowned Burhanpur district, known for its substantial banana cultivation, has been hit hard with severe losses due to a thunderstorm. This disaster, which struck on the evening of May 25, has caused extensive damage to banana crops, leaving farmers distressed. In reaction to this catastrophe, former Union Minister Arun Yadav has urged immediate government intervention. He posted on X, stating, "Banana crops in the Burhanpur district have been heavily damaged due to strong thunderstorms on the evening of May 25.

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Apples and Bananas Lead Fruit Consumption in Italy

2024-05-31

According to a study by the Orsero firm, apples and bananas are Italians' most consumed fruits. The study highlights the growing popularity of tropical fruits. 78% of Italians buy apples, and the same percentage acquire bananas. These two fruits remain the favourites in Italian households, followed by the orange, found in 69% of homes. The study, conducted using 1,000 surveys by the IPSOS institute, shows that each Italian consumes, on average, up to 7 different types of fruit per month. Apples and bananas are popular because they are affordable. In addition to these fruits, almost 60% of Italians purchase strawberries, while kiwi ranks fifth.

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