After stabilizing for months, banana prices are on the rise again, reaching new records under the shock of consumers. In contrast, its costs exceeded, on July 13, the wholesale markets 600 dinars (USD 4.08) and the retail markets 700 dinars, according to the Algerian Protection Organization of the consumer. The latter demanded an investigation into these prices because, according to them, the prices remain too high while they are experiencing stability on the world markets.

The Bananatex company has started to apply the banana fibre fabric in a textile project. The product is extracted from the tree's trunk, and its fibre is the strongest found in its natural state. Hannes Schönegger, CEO of the company, explained that in the Philippines, "there is a specific banana species for this, mainly for the paper and rope industry, but we discovered that no one was processing it into fine threads yet. This is what we needed."

Russian forwarders have launched their liner services linking local cargo to China and India after most carriers boycotted the country since the invasion of Ukraine, reports Singapore's Splash 247. In response, the report states that Russia's Swift Line and Inteco Lines have set up shipping lines for container services between the Russian Far East and China.

It's time to crown Ireland's best banana bakers and we've teamed up with celebrity chef Donal Skehan to launch this epic battle and the competition promises to be both fierce and fun. There are a number of categories with something to suit all tastes and abilities so get those baking caps on and make your county proud! Categories include Best Junior Bake (under 12s and 13-17s)r, Best Breakfast, Best Savoury, Best No Bake, Best Vegan, Best Gluten-Free, Best Dessert, Grand Prize Winner.

The Trade Safe Project (TraSa), ISA University, and the Association of Banana Producers (ADOBANANO) signed an inter-institutional collaboration agreement to implement strategic actions and strengthen the value chain of organic bananas for export to the European Union.

According to NOAA, during May, below-average sea surface temperatures (SSTs) continued across most of the central and eastern equatorial Pacific Ocean (Fig. 1). However, negative SST anomalies weakened during the past month, as reflected by the Niño indices, ranging from -0.6ºC to -0.9ºC during the past week.

Japan imported more than 1,500 tonnes of bananas from Vietnam worth JPY166 million (US$1.3 million), a year-on-year rise of 38.5% in volume and 30.2% in value, reports Japan Customs. According to Soichi Okazaki, executive officer of AEON Co Ltd, Japan is importing bananas from several markets, including Ecuador, Mexico, Guatemala, Peru, and Costa Rica.

China’s Ministry of Transport (MOT) wants the country’s ports to ramp up their reefer handling capacity to meet the growing demand for the import of refrigerated foods. The move follows shortcomings in the food supply chain being brought into sharp focus by the recent lockdowns. The ministry said ports must add at least 6,000 reefer plugs by the end-2023. Mainline operators are expected to have added 180,000 teu of reefer capacity.

A.P. Moller – Maersk (Maersk) is to open a new 45,000 square-metre cold chain facility in the Waikato District, New Zealand. Upon completion, the site will provide storage for 21,000 pallets of frozen and refrigerated products with more than 16,000 square metres of fully convertible temperature-controlled space. According to Maersk, integrating the state-of-the-art cold store with the depot and intermodal connections will provide better logistics solutions for import and export customers, catering to their increasing needs for more efficient, tech-enabled and temperature-controlled supply chains.

Network Shipping, Fresh Del Monte's ocean logistics arm, is driving growth for Fresh Del Monte's third-party services by further enhancing its platform through a rebrand that optimizes cargo space on Fresh Del Monte's 13 owned vessels — offering tailored shipping solutions to a broader audience amid continuous supply chain pressures. The company's recent rebrand improves its service functions with digital technology that better supports human interactions, including a renovated and easy-to-use interface that efficiently streamlines customer bookings and trade-lane information.

The Department of Agriculture (DA) is eyeing to boost banana exports to Japan, allotting P3 million for a marketing and public relations campaign of the Pilipino Banana Growers and Exporters Association (PBGEA). The said campaign aims to strengthen the Philippine banana industry’s market access and possible price increase in the international market. “The domestic banana industry is optimistic that the marketing campaign will enable producers to secure the support of Japanese consumers in our bid to adjust prices,” PBGEA executive director Stephen Antig said.

The Foreign Trade Promoter (Procomer) reported that $7 million fewer bananas were exported to the Old Continent between January and March compared to the same period in 2021. The available figures for agricultural exports from Costa Rica during the first quarter of the year were affected by the armed conflict, with a drop of 1% compared to the same months of the previous year.

Dominican Today reports that the banana sector has been hit by rising costs and falling prices in international markets. According to the local press, the increase in freight, fertilizers, and supplies such as boxes is a high-cost factor. The report relays that the aggravating circumstance is that the destination markets refuse to assume these cost increases. The report notes that the Dominican Republic exports about 455 containers per week, more than 90% of organic bananas.

Fresh Del Monte Produce declared a quarterly dividend on Tuesday, May 3rd. On Wednesday, May 18th, investors of record will be paid a dividend of 0.15 per share on Friday, June 10th. This represents a $0.60 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, May 17th. Fresh Del Monte Produce has decreased its dividend by an average of 5.9% per year over the last three years and has raised its dividend every year over the previous years. Fresh Del Monte Produce has a payout ratio of 30.6%, meaning its dividend is sufficiently covered by earnings.

Giving you the best ability to manage your supply chain is of the utmost importance to us, and as your integrated logistics partner, our aim is to ensure that you have the necessary information to better plan your logistical network. In line with this we would like to inform you about the latest developments in Russia. Earlier we have communicated A.P. Moller - Maersk would cease all our operations in Russia and Belarus. Maersk has now stopped all vessel operations in Russia and service with Belarus.