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.

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.

At the start of the week, banana selling prices in St. Petersburg remained steady at approximately USD 21.95 per box CIF. However, a downward trend emerged from Wednesday onwards, with prices eventually reaching USD 20.80 per box CIF. The pricing was influenced by quality, brand, volume, and packaging factors. As the week progressed, demand for bananas weakened, leading traders to anticipate a further decline in prices due to the availability of seasonal fruit at more competitive rates in the market. Around 1.995 million boxes were discharged in week 22 and nearly 990.000 are expected to be discharged in week 23. Regarding the exchange rate, there was a minor increase, with 1 USD equating to 89.79 RUB, marking a slight improvement from previous weeks. Prices in the Mediterranean ranged from USD 17.0-18.0 per box CIF for Ecuadorian bananas, varying by brand, volume, and region. Central American bananas were sold for approximately USD 2.0 less per box.

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.

Representatives of the productive sector have voiced their discontent with the Central Bank of Costa Rica's (BCCR) recent responses. The BCCR's suggestions to accelerate the reduction in the monetary policy rate (TPM), currently at 4.75%, as a solution to the exchange rate appreciation issue have yet to be well-received. Abel Chaves, president of the National Chamber of Pineapple Producers and Exporters (Canapep), expressed disappointment with the BCCR's responses.

Maritime ports are essential for global trade, facilitating the transport of a diversity of products internationally. Therefore, the world's largest terminals must implement optimized and well-planned workflows to maximize capacity. Each phase, from docking to delivery, is crucial, as greater operational efficiency translates into an increase in productivity, a decrease in costs, and an improvement in the overall performance of the port. In this scenario, Contecon Guayaquil S.A. (CGSA) stands out for its operational efficiency, setting record times when collecting containers at the terminal.

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.

The central banana-producing entity in the Canary Islands (which groups 31% of the offer), the firm Coplaca, a producer organization (OPP) which is also a second-degree cooperative society, has just presented its economic results for what all local fruit producers consider a terrible year. From these records, disseminated this Tuesday in a note by the commercial entity, it is concluded that the farmers attached to such OPP marketed 134,000 tons last year, a global amount sold at the average value per kilo in green of 1.04 euros.

The banana guilds of Latin America once again expressed their concern that the practices of European supermarkets and discount stores demonstrate a lack of real commitment to improving the industry's current conditions and achieving sustainability. Two months after their last statement on the need for European supermarket and discount store chains to adopt the Fairtrade methodology to calculate the fair price of bananas, taking into account the sustainability efforts in environmental and labour terms of the producing countries of the region

During the first four months of 2024, Madeira sold 6,623.5 tons of bananas, an increase of 1,045.1 tons, or 18.7%, compared to the same period in 2023. The Regional Directorate of Agriculture and Rural Development (DRADR) provided this data, which the Regional Directorate of Statistics of Madeira released.

The selling prices of bananas in St. Petersburg hovered around USD 23.00 per box CIF, with some transactions ranging from USD 21.25 to USD 24.0 per box CIF. These prices were determined by brand, quality, volume, and type of packaging. Approximately 1.77 million boxes were unloaded in the week 21 and nearly 1.96 million boxes are projected for the week 22. The prevailing exchange rate was 1 USD = 90.25 RUB. The Russian Economic Development Ministry said in its Current Price Situation report that it estimated annual inflation at 8.03% on May 20. The prices for Ecuadorean bananas ranged from USD 16.00 to 18.00 per box CIF in the Mediterranean. These prices varied depending on the brand, volume, region, and packing. Fruits from other origins were sold at approximately USD 2.0 less per box. In the Mersin Free Zone, the prices for re-exported bananas of Ecuadorean origin were between USD 16.00 and 18.00 per box. On occasions, for extra quality and heavy boxes, the cost was up to USD 20.00 per box.

According to the State Phytosanitary Service (SFE), the European Union (EU) has established new maximum residue limits (MRLs) for the pesticides Oxamyl and Indoxacarb, which are widely used in fruit and vegetable crops in Costa Rica. This restriction applies to products intended for export, so sector members indicated that they would seek environmentally friendly substitute products.

Once again, the resilient Colombian banana sector has expressed concern over excessive certifications and the low international price of this fruit, which threaten agricultural production. The Association of Banana Growers of Colombia (Augura) announced that European retail markets continue to lower the cost of bananas through promotions, a fact that, according to the union, demonstrates a lack of interest in the efforts being made by the agro-industry to comply with the policies and certifications required in European territory.

Supermarkets in the UK are negotiating with the Fairtrade Foundation over the trial of a collective buying scheme for Fairtrade goods. Fairtrade Foundation declined to name the supermarkets involved but confirmed ongoing talks. Sources close to the matter told The Financial Times that Tesco and Sainsbury's are also participating.

Los supermercados del Reino Unido están negociando con la Fundación Fairtrade para probar un plan de compra colectiva de productos Fairtrade. La Fundación Fairtrade se negó a nombrar a los supermercados involucrados, pero confirmó las conversaciones en curso. Fuentes cercanas al asunto dijeron a The Financial Times que Tesco y Sainsbury's también están participando.