The Association of Banana Exporters of Ecuador (AEBE) is pleased to announce the third annual edition of "Banana Time". This event, which will be held at the Hotel Oro Verde in Machala, aims to bring together the productive actors of the banana sector to discuss issues of common interest and promote the industry's sustainable development. "Banana Time" is a unique opportunity for producers, exporters, experts and university students to meet and exchange ideas, experiences and knowledge.

Israeli shipping line Z.I.M. has renewed its partnership with ArrowSpot Systems Ltd., a fellow Israeli start-up that provides comprehensive cargo monitoring solutions for the global logistics industry. This extension builds upon the existing collaboration between the two companies, which includes operating a 24/7 control centre as a critical component of the ZIMonitor service. This service offers remote tracking, monitoring, and control for reefer containers.

Kazakhstan is home to an expansive banana plantation where the locally adapted variety "anamuz" thrives in the Kazakh climate. Islam Aliyev led the greenhouse to house over 7,000 banana plants and successfully ripened approximately 1,000 tons of bananas. To ensure successful acclimatisation, 400 truckloads of compost were imported. Although the existing greenhouse spans only 5 hectares and fulfils a mere 1% of domestic demand, expansion plans are in progress.

IQAX Ltd., a Hong Kong-based innovative technology solutions provider for shipping and logistics, has announced that Hapag-Lloyd, one of the world's most significant container shipping lines, will adopt its IQAX eBL to issue electronic bills of lading (eBLs). Hapag-Lloyd has chosen to implement IQAX's industry-leading eBL solution to enhance customer service and expedite its transition towards 100% adoption of eBLs by 2030.

Last year, banana production had an economic impact of more than 500 million euros on the Islands, which would be hindered without the agreed economic compensation. The Association of Canary Island Banana Producer Organizations (ASPROCAN) stated in a press release that an excellent opportunity is being missed by not accessing economic compensations for the export transportation costs of Canary Island bananas to mainland Spain.

Standard Fruit Company, a subsidiary of Dole in Costa Rica, laid off 412 workers last weekend who worked on banana farms in the Caribbean province of Limón, as confirmed to the local press by Juan Carlos Rojas, the company's legal director. "Our company is trying to maintain its agricultural activity in the country due to the abrupt strengthening of the colon, the local currency, against the U.S. dollar.

Comprised of more than 670 farmers distributed among the islands of Tenerife, Hierro, and La Palma in the Canary Islands, S.A.T. Europlátano began construction on its new ripening warehouse in 2023, which it expects to have ready by the end of summer. Its managers have shared with Alimarket the investment this project has entailed and the benefits it will bring to their activity, among other matters.

The company reported quarterly adjusted earnings of 34 cents per share for the quarter ending in March, which is lower than last year's EPS of 55 cents. Two analysts' mean expectation for the quarter was for earnings of 61 cents per share, with Wall Street expecting results to range from 60 cents to 61 cents per share. Revenue fell 1.8% to $1.11 billion from a year ago, with analysts expecting $1.15 billion. Fresh Del Monte Produce Inc.'s reported EPS for the quarter was 55 cents. The company reported a quarterly net income of $26.1 million.

Banana selling prices in St. Petersburg fluctuated significantly throughout the week, influenced by factors such as brand, volume, quality, and packaging. Prices began at USD 22.50 per box CIF on Monday, increased to USD 23.55 on Tuesday, and escalated to USD 24.65 per box CIF by Thursday. One container vessel with around 485.000 boxes will be delayed to the incoming week. Despite these price fluctuations, demand remained consistent during the extended holiday period. In week 18, approximately 1.52 million boxes were unloaded, and an estimated 2.15 million boxes are projected for week 19. This increasing demand trend is a positive indicator for the industry, although demand is anticipated to decline in the upcoming weeks, as is typical when summer fruits enter the market. Interestingly, a substantial volume of bananas from China made their way into the Central Asian former Soviet Republics. While bananas from other sources are also regularly imported into Russia, the preference continues to favor Ecuadorian fruit, indicating a promising market for Ecuadorian banana exporters. The exchange rate was established at 1 USD = 91.79 RUB.

Cocoa, bananas, and coffee represent the bulk of sales for the Fairtrade/Max Havelaar label, affixed in France on about 85% of Fairtrade products coming from Southern countries. Fairtrade is resilient. Driven by cocoa and bananas, the turnover of Fairtrade/Max Havelaar labelled products increased by 4% in 2023 in France, according to the certifying body.

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On April 26, 2024, Ecuador's Ministry of Agriculture and Livestock (MAG) introduced a new control for the banana trade, a unique banana code. This code aims to strengthen the controls of the Unibanano system, ensuring the integrity of the fruit's registration and export procedures. The code was created through Ministerial Agreement 015 on March 81. The Unibanano system, which has been in place since 2012, registers and updates the data of producers, exporters, and traders by the banana law.

The strengthening demand for Asia-European trades has taken carriers and forwarders off guard, leading to tighter space and an increased likelihood of shipments under long-term contracts being rolled over. Towards the end of the previous week, many customers began experiencing issues with their allocations, according to a European forwarder. The problem arises when contract rates fall significantly below spot rates during busy periods, causing carriers to prioritise the cargo that pays the most.

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S&P Global Ratings has updated its outlook on Dole PLC to stable from negative while affirming all its ratings, including the 'BB' issuer credit rating. The stable outlook reflects S&P's expectation that Dole will continue generating healthy Free Operating Cash Flow (FOCF) and remain committed to deleveraging, aiming to maintain leverage around 3.5x. S&P anticipates that Dole will continue reducing leverage, supported by a modest 4% year-over-year growth in EBITDA in 2023 and a significant reduction in working capital requirements as supply chain constraints ease.