During week 25, the demand for bananas in St. Petersburg showed improvement compared to the previous week.

On Monday and Tuesday, banana selling prices hovered around USD 23.05-24.25 per box CIF. Later in the week (from Wednesday), prices increased slightly to USD 24.25-25.45 per box CIF. These prices varied based on brand, quality, volume, and packaging.

Approximately 1.540 million boxes were discharged during week 25, and around 1.320 million boxes are expected for week 26.   The exchange rate was 1 USD=87 RUB.

Ecuadorian bananas in the Mediterranean were priced at USD 17.00-19.00 per box CIF with prices around USD 21.0 per box CIF in Libya. The price varied based on brand, volume, region, and quality. Central American bananas were cheaper, selling around USD 2.00 less per box.

In the Mersin Free Zone, the price range for re-exported Ecuadorian bananas was USD 17.0-18.0 per box. However, for extra quality fruit and heavier boxes, prices could go up to USD 20.0-21.0 per box. Bananas from Central America were sold at USD 15.0-16.0 per box.

Due to the Eid al Adha festivities in Muslim countries, trade was limited. In Turkey, the festivity, a national holiday was prolonged till  Sunday, the 23rd.It led to most businesses, educational institutions, and government offices closing. Despite this, there were minor transactions on Friday, the 21st, with Customs requiring additional fees for clearance formalities and dispatch. 

The exchange rate was 1 USD=32.80 TL.

In Iran, Ecuadorian bananas were priced at approximately 75.000-80,000 Toman per kg, while Indian bananas ranged from 60,000 to 70,000 Toman per kg. The rainy season in India is affecting banana quality . The CIF Bandar Abbas price for the 13.50 kg banana box from India was around USD 9.50 to $10.50 during the past few days.

Import licenses were still limited, but bananas remained profitable due to the low volumes available, notwithstanding the largely available local summer fruits, which were sold at competitive prices.

The dollar exchange rate was approximately 59,000-59.500 Toman.

Traders anticipate that banana prices may increase in the next couple of days due to the fruit's scarcity.

In the Ecuadorian spot market, fruit prices were under pressure due to lower requirements, hovering around the official price.

Many farms faced suspension due to the strong proliferation of the Moko bacterial disease. This disease particularly affected the Los Rios province and the Quevedo area.

Shippers began requiring fruit from plants with at least six leaves, as opposed to the previous standard of five leaves, according to industry sources.

Regarding the Chartering Market, several fish trade fixtures were reported from different regions.  Two vessels were fixed to load in Alaska for Europe.

Brokers also reported a contract for loading approximately 11,000 MT of seed potatoes from Holland to Cuba in the future.

The Time Charter rate for larger and smaller vessels ranged from US Cents 60-65 per cbft per month.

In some trades, rates went up to US Cents 75-80 per cbft, depending on factors such as the type of voyage (return or geographical) and the idle time of the vessel before being employed.

Bunker Prices:

                                   VLSFO          MGO

Rotterdam               $559.00         $768.00        

Gibraltar                  $609.00         $824.00                    

Panama Canal        $628.00         $859.00