According to Bancolombia, the weakness of the economy in Europe would be generating certain uncertainty in the Colombian fruit market; especially for bananas, as the EU is its main destination, with a 61% share in 2022.
During 2023, Colombian banana exports to Europe have decreased by 14%. This decrease, however, has been offset by an increase in prices and an improvement in some costs.
The improvement in costs gives the sector a respite, but the environmental regulations could be a bitter pill to swallow going forward, as the European regulation within the framework of the Green Pact will restrict the use of some molecules necessary in the control of pests, precisely when Colombia faces a greater risk of Fusarium (FTR4). The development of biological inputs that allow this transition to maintain access to the market, without putting the health and productivity of the crop at risk, will be key.
Compared to Colombia, Ecuador has been recovering market share, especially in the eurozone. With the exception of 2022, the country’s growth in export volume to the EU has been surpassing that of Colombia. In 2023, as of August, the gap widened sharply as Ecuadorean banana exports registered a 13% increase and Colombian banana sales fell by 14%.
Source: contextoganadero.com