During week 20, banana selling prices in St Petersburg were approximately USD 24.90 per box CIF. These prices were subject to brand, quality, volume, and packaging variations. Traders predict a potential price decrease shortly due to the anticipated influx of large quantities of seasonal local fruit in the market, which consumers prefer over bananas during summer. Close to 880,000 boxes of bananas were unloaded, and an estimated 1.77 million boxes are projected for arrival in week 21.

The exchange rate was 1 USD = 90.92 RUB.

In the Mediterranean, prices for Ecuadorean bananas varied between USD 16.0 and 18.0 per box CIF, depending on brand, volume, region, and packing factors. Central American bananas were priced at around USD 2.0 per box less.

In the Mersin Free Zone, the price range for Ecuadorean bananas was similar, ranging from USD 16.0 to around USD 18.0 per box for the re-exported fruit. However, there were opportunities for higher profits, with prices peaking at USD 19.0 per box for extra-quality fruit and heavy boxes of  Ecuadorean bananas. Bananas from other origins maintained a lower price point, sold at around USD 2.0 per box less.

The exchange rate was 1 USD = 32.25 TL.

Last week, the Iranian domestic market saw an increase in banana prices due to a decrease in available volumes. The market conditions were better than the previous two weeks, leading to improved prices.

Ecuadorian bananas were sold at around 70,000-75,000 Toman per kg, while Indian bananas were priced around 55,000-60,000 Toman per kg. Pakistani bananas also made their presence felt in the market, with their volumes progressively increasing according to local traders.

However, banana prices are expected to weaken in the coming months as more local summer fruits enter the market. The exchange rate during this period was 1 USD = 59,000-59,500 Toman.

The prices in the Ecuadorian spot market ranged from around $6.85 per box up to $7.00 to $7.50 per box for the fruit only during the week. The prices varied based on quality, volume, and the locality where the bananas were sourced. Demand was lower than the previous week.

Regarding the Chartering Market numerous vessels are presently engaged in the citrus trade from South Africa to the Far East, Russia, the USA, and Northern Europe. Various medium and small-sized vessels are utilized in the fish and squid trade, although several idle vessels are awaiting orders, primarily for the fish trade. Time Charter rates have remained relatively stable compared to last week, with larger ships priced at approximately 80-85 US cents per cbft per month and smaller boats at around 75-80 US cents.

Bunker Prices:

                        VLSFO           MGO

Rotterdam     $568.00         $741.50        

Gibraltar        $608.00         $803.00                    

Panama        $624.00         $846.00