In St. Petersburg, banana prices during the first week of January ranged from USD 17.30 to 17.80 per box CIF according to brand, volume and packing. The demand was sluggish due to the extended holiday, which concluded on January 8. This prolonged break led to decreased demand and, consequently, lower prices compared to the previous week. The exchange rate stood at 1 USD = 101.68 RUB.

In the Mediterranean, Ecuadorean bananas were sold at prices ranging from approximately USD 14.50 to 15.50 per box CIF, influenced by brand, weight, volume, region, and packaging factors.Prices in Algeria were higher than other markets and traders were able to achieve USD 24.0-25.0 per box CIF. Central and Southern American Bananas were priced around USD 1 lower per box. In th Mersin Free Zone, Ecuadorean bananas were re-exported to neighbouring countries and sold for about USD 15.00 to 16.50 per box, while Central American bananas were priced USD 1.00 to 2.00 lower per box. Volumes were lower than the previous week, but demand from neighbouring countries, except Iran, increased. The exchange rate was 1 USD = 35.36 TL.

Banana prices in the Iranian domestic market were lower than last week due to larger volumes. Ecuadorean bananas were priced around 85,000-89,000 IRT per kg, while Indian bananas sold for approximately 74,000-76,000 IRT per kg. A 13.50 kg box of Indian bananas was priced at around USD 8.00-8.25 CIF Bandar Abbas. The exchange rate was 1 USD = 81,000 IRT.

Prices in the Ecuadorean spot market increased from approximately USD 7.50 per box for the fruit to USD 8.50-9.00 per box by the end of the week. Shippers expressed concerns about potential future difficulties in securing containers.

Several fixtures were reported for both Voyage Charter trips and Time Charter in the chartering market. Another vessel has been reported to load bananas in Ecuador for Poland. More ships were taken on Time Charter for various cargoes, including bananas. There were no idle vessels, and brokers reported Time Charter rates of USD 0.100-0.105 per cubic foot per month. Similar rates were achieved for smaller vessels.

Bunker Prices:

                            VLSFO        MGO

Rotterdam            $525.00       $663.50      

Gibraltar               $571.00       $745.00                

Panama Canal     $58/0.00      $735.00