According to preliminary data and information on developments over the first six to nine months of 2023, global trade in bananas displayed signs of recovery from the more severe supply shortages experienced in the previous two years.
However, developments appeared to be significantly divergent among key global trade partners, as weather conditions and the economic backdrop proved to be beneficial to some, and adverse to others.
Higher supplies were reported from Ecuador and Guatemala during the first eight months of the year, where production growth was seen on the back of favourable climatic conditions related to the El Niño weather phenomenon. Conversely, excessive rainfall, flooding and the passing of tropical storms reduced supplies available for export from Colombia, Mexico, Costa Rica and the Dominican Republic.
While world fertilizer prices displayed a downward tendency throughout the year, returning closer to their pre-Ukraine-war levels by July 2023, industry sources reported that the reduced application by farmers in 2022 continued to hamper the productivity and quality of banana cultivation in the first half of 2023.
The spread of plant diseases, importantly the devastating spread of the Banana Fusarium Wilt Tropical Race 4 (TR4) disease in the Philippines and its alarming presence in Peru and the Bolivarian Republic of Venezuela, further continued to cause production losses as well as financial strain from the substantial costs associated with disease prevention. Suppliers in some Latin American countries were additionally impacted by losses and mitigation expenditures stemming from cases of placement of illegal substances into banana containers.
Click here to read the full report.
Source: fao.org