In week 30, the price of bananas in St. Petersburg ranged from USD 14.20 to 15.50 per box (CIF), depending on the brand, volume, and packaging. Prices decreased due to weak demand and low consumption, influenced by high temperatures and the availability of large quantities of local summer fruits at competitive prices. Approximately 1.33 million boxes were discharged, with an estimated 1.075 million boxes expected for week 31. The exchange rate was 78.86 RUB for 1 USD.

In the Mediterranean, prices for Ecuadorian bananas ranged from USD 16.00 to USD 18.00 per box (CIF), depending on factors such as brand, volume, packaging, and region. In contrast, Central American bananas were sold at approximately USD 14.00 per box on a CIF (Cost, Insurance, and Freight) basis.

In the Mersin Free Zone, the primary prices for Ecuadorian bananas, which are re-exported to neighbouring countries, ranged from USD 19.00 to USD 20.00 per box. These prices were influenced by brand, volume, packaging, and weight. Despite around 750 containers arriving, sales proceeded smoothly due to high demand.

The Turkish domestic market has also experienced a surge in demand. However, locally produced greenhouse bananas are exempt from import duties, while bananas from third-party countries are subject to a 145% customs duty. Demand has significantly decreased due to high production costs. The high tariffs on imported bananas are part of Turkey's strategy to protect its domestic banana industry. The exchange rate stands at 40.56 TL.

The Iranian banana market experienced a modest increase this week. Demand for Ecuadorian bananas has remained relatively stable compared to recent weeks. Wholesale prices have increased slightly, now averaging around 135,000 IRT per kilogram.

Sales of Indian bananas have risen, although prices have also gone up, ranging from 100,000 to 115,000 IRT per kg.

The exchange rate for USD to IRT is approximately 89,000 IRT per USD.

The highest prices for bananas in the Ecuadorian Spot Market ranged from USD 7.50 to USD 8.50 per box, just for the fruit, representing an increase compared to the lower prices at the beginning of the week. Despite a reported engine failure on one of the container vessels arriving in Ecuador, which prevented the loading of approximately 412 FEUs , this did not affect prices for the volumes that couldn't be exported. 

Additionally, larger volumes of bananas are expected to be loaded in Turbo, Colombia. Ships that typically operate regular trade routes from Ecuador to Northern Europe may be redirected to load extra volumes along their journey in the Gulf of Urabá, which will then be sent to Algeria. Traders have noted that more bananas may be shipped from Turbo to Algeria by container, specifically for ports in that region.

The time charter rates for large boats range from $0.65 to $0.70 per cubic foot per month, while smaller vessels are chartered at around $0.90 to $0.95 per cubic foot per month.

Bunker Prices:

                                    VLSFO           MGO

Rotterdam                 $510.00          $725.00         

Gibraltar                    $538.50          $763.00                     

Panama Canal          $534.00          $764.00