During week 6, banana selling prices in St. Petersburg remained high at around USD 22.00 per box CIF, driven by strong demand, depending on the brand, volume, and packaging. Approximately 1.675 million boxes were unloaded, while nearly 1.720 million boxes are expected for week 07. The exchange rate improved slightly, with 1 USD at 96.91 RUB, benefiting the Russian currency.

In the Mediterranean region, Ecuadorian bananas were priced between USD 15.00 and USD 16.00 per box CIF, influenced by brand, volume, area, and packing.

In Libya, prices rose to around USD 17.00 per box for Ecuadorian bananas and approximately USD 16.00 per box for Central American fruit.

In the Mersin Free Zone, re-exported Ecuadorian bananas sold at prices ranging from USD 16.00 to USD 18.00 per box. In contrast, Central American bananas commanded USD 13.00 to USD 14.00 per box, based on brand, volume, box weight, and packing specifications.

In Iran, the price for Indian bananas (4, 5, and 7 hands per box) was between 76,000 and 81,000 IRT per kg, with Ecuadorian bananas priced higher at 92,000 to 95,000 IRT per kg. The depreciation of the local currency, IRT, against the US dollar has led traders to import lower volumes, particularly with the exchange rate at 87,000 IRT. Furthermore, a significant backlog of Indian bananas remains at the port of Bandar Abbas due to the restrictive import licenses preventing them from reaching the markets efficiently.

The regular vessel carrying approximately 230,000 boxes of bananas from the Philippines  docked at Bushehr. However, due to the limited number of available import licenses, the clearance of these fruits will take longer than expected. Meanwhile, bananas shipped from the State of Andhra Pradesh have remained unaffected by chilling injury and are sold at assertive prices of USD 8.00 to USD 8.50 per box CIF.

At the beginning of the week, prices in the Ecuadorian Spot Market ranged from USD 8.50 to USD 11.00 per box. However, these prices quickly increased to between USD 11.50 and USD 13.00 per box for the fruit itself, not including packing costs and other expenses needed to reach the FOB price. Some companies declined to buy the fruit due to high prices.

There were almost no changes in the Chartering Market and  time charters for both small and large ships are fetching prices between US cents 110 and 125 per cubic foot per month, varying by trade.

Bunker Prices:

                                    VLSFO           MGO

Rotterdam                 $550.50          $669.00         

Gibraltar                    $572.50          $755.00                     

Panama Canal          $590.00          $755.00