Peru's banana exports in November 2024 totalled 11,315 tons, worth USD 9.6 million, marking an increase of 8% in volume and 4% in value compared to the same month of the previous year. These positive results have surpassed the cumulative total for the entire year 2023 (January-November), reporting shipments of 148,526 tons (+7%) for USD 130.6 million (+12%). In November this year, 95% of bananas were fresh and 5% processed. Export logistics were mainly channelled through Terminales Portuarios Euroandinos – Paita, which managed 97% of shipments, followed by DP World with 2%.

In St. Petersburg, banana prices during the first week of January ranged from USD 17.30 to 17.80 per box CIF according to brand, volume and packing. The demand was sluggish due to the extended holiday, which concluded on January 8. This prolonged break led to decreased demand and, consequently, lower prices compared to the previous week. The exchange rate stood at 1 USD = 101.68 RUB. In the Mediterranean, Ecuadorean bananas were sold at prices ranging from approximately USD 14.50 to 15.50 per box CIF, influenced by brand, weight, volume, region, and packaging factors.Prices in Algeria were higher than other markets and traders were able to achieve USD 24.0-25.0 per box CIF. Central and Southern American Bananas were priced around USD 1 lower per box. In th Mersin Free Zone, Ecuadorean bananas were re-exported to neighbouring countries and sold for about USD 15.00 to 16.50 per box, while Central American bananas were priced USD 1.00 to 2.00 lower per box. Volumes were lower than the previous week, but demand from neighbouring countries, except Iran, increased. The exchange rate was 1 USD = 35.36 TL.

Based on current figures, banana producers in Paraguay expect to end 2024 with approximately USD 31 million in export revenues. Hugo Franco, a banana producer, confirmed that considering the numbers obtained throughout 2024, expectations for the end of the year in terms of the export of this fruit are encouraging. Franco explained in an interview with the GEN channel that, according to data from the Exporter's Single Window, exports had reached just over USD 28 million in revenue by the end of November.

According to Adama Dabo, the head of the "Women and Resilient Agriculture" (FAR) project, the project has invested approximately 1 billion CFA francs in essential infrastructure to boost banana production in Senegal in the Sédhiou region (south). "With an investment of around 1 billion CFA francs, the Women and Resilient Agriculture project has developed essential infrastructure to support local agriculture," said Mr Dabo. He noted that five market garden blocks have been equipped and fenced, with boreholes and pumping equipment installed. This allows for efficient water management and protection against wandering animals.

SeaCube has partnered with Greensee to launch innovative solutions that redefine sustainability in the refrigerated transport sector. This collaboration introduces SeaCube's Green and Net-Zero Reefer Leases, powered by Greensee's AI-driven CO2 emissions reporting technology. It sets a new standard for energy efficiency and environmental responsibility in cold chain logistics. SeaCube is also working with Thermo King® a leader in transport temperature control solutions and a brand of Trane Technologies, and CMA CGM to field-test Thermo King's E-COOLPAC electric genset, one of the first battery-powered refrigerated container gensets in the United States.

DP World San Antonio concluded the 2024 cherry season with an increase of more than 100% in export volume compared to the previous year, with 11 ship calls and nearly 5,400 containers of exported cargo, more than 12.8 million boxes of cherries. This increase allowed the export of cherries through important shipping lines such as ZIM, MSC, MSK and Global Reefer, guaranteeing greater logistical capacity and efficiency. Juan Carlos Carvacho, Operations Senior Manager of DP World San Antonio

With the Korea-Philippines FTA taking effect on December 31, banana tariffs will drop 6 per cent every year from the current 30 per cent, disappearing entirely in five years. Southeast Asian countries are the primary source of Korea's bananas. The Philippines is expected to save $189 million on banana exports over five years as the Philippines-South Korea free trade agreement (FTA) comes into force, according to the Department of Trade and Industry (DTI). Export Marketing Bureau Director Bianca Pearl R. Sykimte stated that the FTA will immediately reduce tariffs for Philippine banana exports by six percentage points this year.

Laos, a key banana supplier to China, has successfully delivered nearly 450 tons of bananas to Pinggu, Beijing, via the China-Laos Railway. The international cold chain special train, also known as the 'Beijing-Yunnan-Vientiane' line, departed from Vientiane, Laos, on November 24. This marks the beginning of regular operations for this new service, with plans to expand its operations to include more fresh produce shortly.

The Container Terminal of Marín, known as Termarín, is part of the Pérez Torres Group, one of the leading port operators on the Peninsula, with a presence in Spain, Portugal, and China. With a wide range of logistics services in more than 49 countries, it has become a benchmark in international port logistics.

In week 51, banana selling prices in St. Petersburg ranged from USD 17.45 to 18.40 per box CIF, depending on brand, volume, quality, and packing. Demand was weak. Nearly 2.09 million boxes were discharged, and around 1.41 million are expected for week 52. The exchange rate was 1 USD = 103.42 RUB. Inflation in the Russian Federation since the beginning of the year amounted to 9.14%, and consumer prices for the week from December 10 to December 16 increased by 0.35%, from the beginning of December by 0.97%, and from the start of the year by 9.14%, as reported by Rosstat. The Central Bank of Russia has kept its key interest rate at 21% despite market expectations of an increase. This decision comes amid high inflation and economic challenges, including the impact of Western sanctions and increased military spending. These economic factors are interconnected, with high inflation and a weak ruble contributing to the central bank's decision to keep interest rates high. The situation stays dynamic, with ongoing efforts to manage inflation and stabilize the currency. In the Mediterranean, prices for Ecuadorian bananas ranged from USD 14.00 to 15.00 per box CIF, depending on brand, volume, packing, and region. In Libya, traders reported prices of USD 14.00 per box CIF for Ecuadorian bananas and around USD 13.00 per box CIF for bananas from Egypt.

MSC has announced enhancements to its IAS India-Africa Service (IAS), which connects trade between West and South Africa, the Gulf, and India. These improvements aim to provide exporters in the Cape region with greater access to global markets. The IAS service will now replace its current call in Coega with a new eastbound call in Cape Town. This change will offer customers a direct connection between Cape Town and Jebel Ali / Abu Dhabi, specifically catering to reefer cargo.

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers.

President of Cameroun Paul Biya has given 100 million FCFA to support the organization of the 3rd edition of the International Banana-Plantain Festival in the African country, which will be held from December 4 to 16, 2024. This information was conveyed in a letter from the Minister Secretary General of the Presidency of the Republic to the National President of the Banana-Plantain Sector Actors of Cameroon.

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers.

Agricultural associations in the Canary Islands have labelled the treaty signed between Europe and the economic bloc of Argentina, Brazil, Paraguay, and Uruguay as a "betrayal." Producers will protest on December 16 in front of the Ministry of Agriculture. Ruin, betrayal, or debacle are some of the terms used by Canary Islands banana producers to describe the consequences of the free trade agreement between the European Union and the Southern Common Market (Mercosur) states on the primary sector of the Islands. The deal involves an 82% reduction in tariffs applied to imports from Argentina, Brazil, Paraguay, and Uruguay.