Banana prices in St. Petersburg experienced significant fluctuations due to weak demand. Sales were hindered by high temperatures in most regions of the Russian Federation and by large volumes of local summer fruit available at competitive prices. Most of the week, prices hovered around USD 15.0 per box CIF as average, ranging from USD 12.70 to USD 17.35 per box. However, at the lower end, prices briefly dipped to USD 11.50 per box CIF by Friday. These variations depend on factors such as brand, quantity, and packaging.

Additionally, the exchange rate stands at 1 USD = 85.78 RUB.

Prices in the Mediterranean for Ecuadorian bananas ranged from USD 17.0 to 19.0 per box CIF. The actual price depended on brand, volume, region, and packaging factors.

In Libya, prices reached as high as USD 20.0 per box CIF, while in Algeria, they hovered around USD 17.0 to 17.50 per box CIF.

Consumers in the Mediterranean region generally preferred local summer fruits like melons, watermelons, and peaches over bananas. This preference, coupled with the unfavourable hot temperatures, led to limited banana consumption.

Central American bananas were priced 1 to 2 USD per box lower than their Ecuadorian counterparts.

The price of Ecuadorian origin re-exported bananas in the Mersin Free Zone ranged from USD 17.0 to 19.0 per box, depending on factors such as brand, volume, packing, and weight.

Central American bananas were available at USD 14.0 to 16.0 per box.

The exchange rate stood at 1 USD = 33.17 TL, representing a modest improvement for the Turkish currency against the US dollar.

At the beginning of the week, Ecuadorian banana prices in Iran ranged from 68,000 to 70,000 Toman per kilogram. However, as the week progressed, they increased significantly from 78,000 to 82,000 Toman.

Initially, Indian bananas were sold at approximately 50,000 Toman per kilogram. By the end of the week, the price rose further, reaching around 58,000 to 60,000 Toman (IRR) per kilogram.

Local traders have raised concerns about the declining quality of Indian bananas, attributing it to the adverse weather conditions in India, particularly the persistent heavy rains and floods.

There were still issues with the import permits with very low licenses released to traders.

The exchange rate was 1 USD=61.000 IRT-Toman-. The Iranian currency, which is very sensible to political events related to the Islamic Republic, devaluated against the US dollar after the attack that killed Ismail Haniyeh, one of the most senior Hamas members, at his residence in Teheran. Haniyeh had taken part in the inauguration ceremony of the new Iranian President, Masoud Pezeshkian.

Banana prices in the Ecuadorian Spot Market for the fruit only were maximum around USD 7.0 per box.  No spot fixtures were reported for fruit cargoes in the Chartering Market. However, some ships were chartered for fish or other frozen cargo trades. One vessel was reported to be fixed for a trip carrying orange juice from China to Mersin.

Time Charter rates for large vessels ranged from US Cents 45-50 per cubic foot (cbft) per month, depending on the nature of the trip. Smaller ships with capacities of 265,000-300,000 cbft commanded rates around US Cents 55-60 per cbft per month.

Bunker Prices:

                                    VLSFO          MGO

Rotterdam                 $563.00         $716.00        

Gibraltar                    $587.50         $781.00                    

Panama Canal          $652.00         $917.00