In week 28, banana prices in St. Petersburg varied based on brand, volume, quality, and packaging, ranging from USD 17.00 to USD 18.30 per box on a CIF basis. However, prices occasionally fell to USD 15.75 per box CIF due to weak demand in a market where local seasonal fruit was available in consistent volumes at competitive prices. Approximately 1.67 million boxes were discharged, and nearly 990,000 boxes are expected to arrive in the coming week. The exchange rate was 77.89 RUB for the USD.

In the Mediterranean regions, Ecuadorian bananas were priced between USD 17.00 and USD 19.00 per box on a CIF basis. The exact price depended on factors including area, volume, brand, weight, and packaging. In comparison, bananas from Central America were sold for about USD 2.00 less per box CIF. In Algeria the price was USD 22.00 per box CIF.

In the Free Zone of Mersin, the price for re-exported Ecuadorian bananas ranged from USD 19.00 to USD 22.00 per box, depending on quality, volume, and weight. Similarly, bananas from Central America were approximately USD 2.00 less per box.

Although demand has increased slightly, Iranian traders have been less active in the market. The exchange rate was 1 USD = 40.07 TL.

The Iranian banana market has experienced an improvement, primarily driven by increasing demand and limited supply. Demand has significantly picked up compared to recent weeks, pushing wholesale prices to between 130,000 and 135,000 IRT per kilogram for the Ecuadoria bananas.

Despite the high temperatures and the availability of summer fruits, sales of Indian bananas have surged, with prices rising to between 90,000 and 105,000 IRT per kilogram. As businesses resumed normal operations, market activity stabilised. 

Additionally, the USD exchange rate has dipped slightly, now averaging between 88,000 and 89,000 IRT for the American currency. A severe shortage of bananas has played a significant role in the overall price increase.

Prices in the Ecuadorian spot market started the week at USD 9.50 to USD 11.00 per box for the fruit alone. Throughout the week, prices remained steady at around USD 9.50 to USD 10.00 per unit. However, by the end of the week, prices fell to lower levels, settling at approximately USD 8.00 to USD 9.00 per box.

Throughout the week, several medium and small vessels were secured for the fish trade. Shipments of citrus fruits from South Africa and Argentina continued, along with shipments of Kiwi from New Zealand. The Time Charter rates remained essentially unchanged from the previous week, at US cents 60-65 per cubic foot per month for large vessels and US cents 60 per cubic foot per month for smaller ships. 

Bunker Prices:

                                    VLSFO          MGO

Rotterdam                 $520.50         $723.00        

Gibraltar                    $544.50         $780.00                    

Panama Canal         $552.00         $767.00