The Association of Banana Exporters of Ecuador (AEBE) reported that August banana exports were similar to the previous year, though overall export volumes remained lower.

The stabilization of the European market, particularly in key countries like Germany and France, helped mitigate the impact of seasonally low demand. Conversely, geopolitical tensions led to logistical challenges, reducing shipments to the Middle East and Russia.

As of August 2024, Ecuador exported 246.21 million boxes of bananas, marking a 1.83% year-on-year decrease. AEBE attributed this decline to strengthening in the European market, with countries like Germany, France, Malta, and Italy increasing their imports. However, international conflicts disrupted and delayed banana shipments to the Middle East and Russia, affecting the entire supply chain.

AEBE indicated that, despite the summer season, the European Union countries of Malta, France, Germany, and Italy increased their banana imports. An estimated 6.1 million additional boxes have been shipped to these countries through August 2024 compared to the same period last year.

In contrast, banana exports to the Middle East decreased by an estimated 4.2 million cases (-11.28%) compared to 2023.

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In Russia, one of Ecuador’s key markets, cumulative banana exports up to August 2024 were 6.8 million cases lower than in 2023, marking a 13.1% decrease. However, banana exports to Russia in August 2024 were 11.27% higher than in August 2023.

In Asia, despite a new free trade agreement with China signed four months ago, banana exports continue to show negative variations. In August 2024, approximately one million boxes were shipped, compared to 1.8 million boxes in the same month last year.

Tensions in the Panama Canal and the Red Sea have caused logistical obstacles, leading to delays and interruptions in banana shipments to the Middle East and Russia.

In the European market, while banana demand weakened during the first week of August due to the summer season, it stabilized in the second and third weeks. By the fourth week, key European countries like Germany and France showed a strengthening demand trend.

However, cold weather in Ecuador's banana-growing areas restricted the supply available for export, limiting the use of markets that were progressively increasing demand.

Regarding production, AEBE noted that the national average weekly banana sleeving for August 2024 was 37.88, slightly higher than in the same weeks of 2023. The average weekly sheathing was higher in the first two weeks of August (weeks 32-33) with an average of 38.55, compared to 37.30 in the same weeks of 2023. This high average was mainly driven by the province of Los Ríos, where sheathing exceeded 38 sheaths per hectare, whereas in Guayas and El Oro, it remained below 37.

Despite higher sheathing levels compared to August 2023, there has been a clear downward trend in fruit weight and size, accompanied by a decrease in calving levels. This is due to weather conditions, with average temperatures below those reported in August 2023.