Banana Selling Prices in St. Petersburg ranged from USD 20.15 to USD 22.45 per box CIF depending on brand, quality, and packing.

From Monday to Wednesday, prices were around USD 21.30-22.45  but they started to decline , reaching USD 20.15  per box CIF by Friday.

Approximately 1.84 million boxes were discharged in week 27, and about 675,000 boxes are expected for week 28.

The exchange rate was 1 USD = 88.12 RUB. Inflation accelerated to 0.66%, driven by higher service charges. 

The annual inflation rate now stands at 9.1% as of July 1, according to the State Statistics Service (Rosstat).

Ecuadorean bananas in the Mediterranean were priced at USD 18.0-20.0 per box CIF . The actual price depended on brand, quality, volume, packing, and specific region.

Bananas from Central or Southern America (excluding Ecuador) were sold at a  lower price, around USD 2.0 per box less.

In the Mersin Free Zone, re-exported Ecuadorean bananas started the week at USD 18.50-20.0  per box and later increased to USD 21.0-22.0 per box due to reduced fruit volumes.

Bananas from other origins in the Mersin Free Zone were priced at approximately USD 16.0-18.0 per box.  The exchange rate was 1 USD= 32.58TL.

The Iranian domestic market prices were lower than the previous week due to higher temperatures- reaching 40 degrees C in Teheran but much higher in Southern Iran-and the large availability of local summer fruit sold at more competitive prices than bananas.

The price for Ecuadorean bananas was around 81.000-85.000 Toman per kg, while Indian bananas were mainly at around 68.000-71.000 Toman per kg.

The exchange rate was 1 USD=61.000-61.200 Toman.

Ahead of Iran’s presidential runoff election, there have been discussions about potential gasoline price increases. The reformist candidate, Masoud Pezeshkian, has hinted at handling price hikes for fuel and other items without causing public outcry. However, hard-liners accuse him of planning to increase fuel prices significantly.

Prices in the Ecuadorean Spot market went under pressure during the week. The highest prices were paid at the beginning of the week, up to USD 7.0 per box for the fruit only, but they decreased during the week as requirements were considerably low. Many growers harvested and packed only the fruit they had under contract with exporters.

Regarding the Chartering Market, there were several fixtures in the fish trade.

Regular citrus shipments from South Africa continued, with almost weekly deliveries to St Petersburg, shipments to the USA every ten days, and four or five total shipments to Japan, demonstrating the consistent demand in these regions.

The market has shown its adaptability with the prevailing Time Charter rates for larger vessels at US Cents 55-60 per cbft per month. However, it's worth noting that there were returns at lower or higher levels depending on the trade, showcasing the market's resilience.

The smaller vessel’s Time Charter remains stable, almost at the same level. However, it's important to note that some medium-small vessels were reported open awaiting cargoes, which is a temporary situation.

Bunker Prices:

                                    VLSFO          MGO

Rotterdam                 $589.50         $768.00        

Gibraltar                    $621.50         $833.00                    

Panama Canal         $626.00         $815.00