From January to July 2024, Ecuador exported 2,316.52 million boxes of bananas, i.e. 3.6 million boxes or 1.66% less than in the same period of the previous year. This fall happened despite significant increases in markets such as Japan, Italy, the United States, Algeria, and others, according to a report by the Ecuadorian Banana Marketing and Export Association (Acorbanec).
Exports to South Korea increased by 271.42% thanks to the Ministry of Finance's decision to eliminate tariffs on 28 fruits and vegetables, including bananas, during the first half of the year. As a result, Ecuador exported 2.5 million boxes to South Korea in the first seven months of 2024, compared to 695,659 boxes in the same period of 2023. Despite this increase, South Korea fell to 22nd place among the main destinations for Ecuadorian bananas.
Acorbanec's report also highlights the growth in other destinations such as Italy, (+39.28%), Algeria, (+34.29%), Saudi Arabia (+25.35%), and Georgia (+37.17%). Exports to Japan increased by 6.39% reaching 3.2 million boxes, which allowed the country to rank 15th among the main destinations.
China maintained its position as the ninth most important destination, despite a 19.25% reduction in purchases. The European Union, the main market for Ecuadorian bananas, showed a remarkable recovery, decreasing its decline in purchases from 16.43% at the start of the year to 1.06% by July 2024.
The United States imported 34.01 more Ecuadorian bananas, maintaining its position as the second most important destination. In contrast, Russia decreased its purchase by 14.92%, affected by the high price of fruit, the economic consequences of the war with Ukraine, and the sanctions imposed by the United States and the European Union.
Banana production in Ecuador also faced challenges, as production up to July 2024 decreased by 2% compared to 2023 due to adverse weather conditions and excessive rainfall that affected the normal development of plantations and bunch yields.
Source: eluniverso.com