During week 40, banana selling prices in St. Petersburg were mostly around USD 14.65 per box CIF . However, some traders attempted to increase prices to USD 15.37 during the week, with aspirations to reach USD 15.90 per box CIF in the upcoming week, according to industry sources. Prices were according to brand, volume and packaging.

The port of St. Petersburg continued to experience congestion, partly due to the closure of the Novorossiysk port, which has been affected by the ongoing hostilities with Ukraine. As a result, several cargoes from Turkey, Egypt, and Pakistan, including citrus fruits, tomatoes, and potatoes, are now being redirected to the Baltic port. Furthermore, the mentioned cargoes previously   discharged in the Black Sea port were then trucked to several norther Russia destinations and on the way back the same trucks carried bananas from St Petersburg to the south. Once the southern cargoes are not available anymore the trucks fleet which was employed in the trade makes other circuits. Another factor contributing to delays in the dispatch of bananas unloaded in St. Petersburg is the requirement for trucks to transmit accompanying documentation electronically, which further hinders the transfer of cargo. Industry sources mention also scarcity of diesel and higher prices for the fuel also because of the ongoing war with Ukraine and trips which had in the past a duration of 5-7 days now exceed 8-12 days.

In week 40, nearly 1.63 million boxes were discharged, and approximately 1.76 million boxes are expected for the following week. The exchange rate stood at 83.48 RUB for 1 USD.

In the Mediterranean, Ecuadorian banana prices ranged from USD 17.00 to USD 18.00 per box CIF, depending on the brand, volume, and packaging. In contrast, Central American bananas were quoted at approximately USD 16.00 per box CIF.

In the Mersin Free Zone, Ecuadorian bananas were priced at USD 20.00 to USD 22.00 per box for the re-exported cargo, also depending on brand, volume, packaging, and weight. This price increase was attributed to rising demand from Iraq and Iran following a halt or considerable reduction  in imports from India. Additionally, demand in the Turkish domestic market grew after issues with phytosanitary certificates for bananas shipped from Ecuador were resolved.  The USD exchange rate was 49.14 TL.

Prices in the Iranian domestic market have significantly risen due to increased import costs for logistics and transportation, along with the ongoing devaluation of the local currency. Recently, the Iranian IRT was quoted at 258,000-259,000 against the USD, marking a new record for the struggling currency of the Islamic Republic. 

Currently, the price for Ecuadorian bananas ranges between 360,000 and 390,000 IRT per kilogram. Additionally, there have been reports of limited volumes of Indian bananas being discharged in Bandar Abbas at USD 13.80 CIF for a 13.5 kg box. 

According to Iranian sources, the price of one kilogram of bananas has increased by 87% during the sixth month of the current Iranian year (from August 23 to September 22, 2026), compared to the same period last year.

Prices in the Ecuadorian Spot Market have come under pressure again, with the highest levels around USD 7.50 to 7.60 per box. This situation is partly due to a delay in one of the liner vessels regularly used for weekly shipments and more bananas available and an increase in production. 

There have also been reports of large volumes of poor-quality bananas being discharged, with a significant number that are overripe and rotten.

In the chartering market, time charter rates have remained consistent with last week, ranging from approximately 50 to 55 cents per cubic foot per month for large vessels, and 55 to 60 cents per cubic foot per month for smaller ships. Reports indicate that several small and medium-sized vessels are currently idle and awaiting orders.

Bunker Prices:

                                    VLSFO          MGO

Rotterdam                 $700.00         $1408.50      

Gibraltar                    $721.50         $1551.50      

Panama Canal         $737.00         $1375.00