According to data from the Coordination Office of Statistics of the Association of Banana Marketing and Export (ACORBANEC), from January to October 2024, Ecuador's banana exports reached 274.39 million boxes, a 0.50% increase compared to the same period in 2023. The European Union (27) remains the leading destination, absorbing 29.93% of total exports, followed by Russia with 18.23%, the Middle East with 13.48%, and the United States with 12.13%. Other markets include the Southern Cone with 6.76% and Africa with 5.86%.

Although the bagging from week 41 to week 52 of 2023, harvested from week 1 to week 12 of 2024, and the bagging from weeks 1 to 27 of 2024, harvested from weeks 13 to 39 of 2024, showed an increase compared to 2023, predicting higher production with a 9.47% increase in bagging, various climatic effects such as lower night temperatures, increased solar radiation during the day, and excessive rains in several banana-producing areas caused the plantations not to develop normally. As a result, the bunch yield was lower than in previous years, reducing production by approximately 15% until September 2024 (depending on the area, even more). However, exports reflect a slight growth of 0.50% due to new plantings (not registered with MAG) that entered production this year.

Banana production in May, June, July, August, and September 2024 was lower than in January, February, March, and April 2024 (despite higher bagging than in 2023). Nevertheless, accumulated exports from January to April 2024 show an increase of 0.29% and from January to September 2024, an increase of 0.50%, improving the position compared to January 2024, which saw a reduction of 12.17% and from January to February 2024, a decrease of 3.51%.

According to the Association, the increase in the minimum support price from $6.50 for a 22XU box of 43 pounds to $6.85 caused significant markets to reduce banana purchases from Ecuador. This was reflected in January 2024 in the European Union, which reduced purchases by 16.43% in 2024 compared to 2023, opting to buy the difference from Colombia and Central America.

However, from March to September 2024, transnational companies increased their banana purchases from Ecuador. As a result, accumulated exports to this market from January to September 2024 show an increase of 1.64%.

In Russia, purchases decreased by 12.49% from January to September 2024 without buying the difference from any other market. The volume decreased mainly due to the high price of the fruit, economic problems stemming from the war with Ukraine, and financial sanctions from the United States and the European Union.

The decline in exports from January to September 2024 is highlighted by a 1.55% decrease compared to the same period in 2023. The principal reductions in exports are reflected in the European Union with a 1.14% decrease, Russia with a 12.36% decrease, the Middle East with an 11.99% decrease, the Southern Cone with a 10.11% decrease, Central Asia with a 5.40% decrease, and the United Kingdom with a 14.30% decrease. However, there are increases in exports, especially to Africa with a 9.29% increase, the United States with a 33.56% increase, Eastern Europe with a 26.53% increase, Oceania with an 18.20% increase, and EFTA (Norway) with a 34.22% increase. Analyzing banana exports by country, Russia is the largest destination with an 18.23% share, followed by the United States with 12.13%, the Netherlands with 6.94%, Italy with 4.90%, and Germany with 4.69%.

Of the 274.39 million boxes of bananas exported from January to September 2024, 83.29% were 22XU boxes, 11.29% were 208 boxes, 4.28% were organic bananas, 1.12% were Baby Banana BB, and 0.02% were Red Banana BM. There is a decrease in the 22XU box by 0.58%. The rest show growth. Of the 274.39 million boxes of bananas exported from January to September 2024, the main exporter is UBESA (DOLE) with a 12.64% share, followed by REYBANPAC with 6.99%, NOBOA TRADING CO. with 5.75%, FRUTADELI S.A. with 4.41%, COMERSUR CIA. LTDA. with 4.41%, AGZULASA S.A. with 2.98%, GREEN EXPRESS S.A. with 2.94%, ASOAGRIBAL with 2.45%, and ECUAGREENPRODEX S.A. with 2.34%.

Of the 274.39 million boxes of bananas exported from January to September 2024, 49.45% were exported through various ports in Guayaquil, 28.72% through the Deepwater Port of Posorja, and 21.83% through Puerto Bolívar in Machala.