In 2023, Brazilian banana exports experienced a significant decline in both volume and revenue compared to the previous year. The total volume exported was 56.2 thousand tonnes, representing a 48% decrease, while earnings amounted to US$ 56.2 million (FOB), marking a 50% decline.
This decline was primarily attributed to reduced fruit shipments to Mercosur, despite increased exports to the European Union. Shipments to the EU saw a notable increase of 45% compared to 2022, reaching 8.5 thousand tons. However, exports to the South American bloc, particularly Mercosur, contracted by 40%, amounting to 44.7 thousand tons. The economic crisis in Argentina, one of the leading importers within Mercosur, played a significant role in this decline.
The economic downturn in Argentina resulted in diminished purchasing power and delayed payment deadlines, which discouraged Brazilian exporters. Looking ahead to 2024, the political instability within Mercosur is expected to persist, further impacting banana exports. Additionally, the El Niño phenomenon is forecasted to cause increased rainfall in the South, the primary banana-exporting region of Brazil, posing additional challenges to exports.
Source: www.datamarnews.com