On Monday, April 28, in week 18, the selling prices of bananas in St. Petersburg ranged from USD 22.20 to USD 23.40 per box CIF. However, on Tuesday, April 29, prices started to decline, falling between USD 19.75 and USD 22.20 per box CIF. Prices depended on brand, volume and packaging. Local traders attribute this price decrease to weaker demand, likely due to an extended holiday period from May 1 to May 4 and from May 8 to May 11, when many people take time off.

Nearly 1.745 million boxes were discharged during the week, and approximately 1.850 million boxes are expected for week 19.

The exchange rate during this period was 81.49 RUB to USD. Additionally, Rosstat reported a year-on-year inflation rate of 10.34% for the last week of April.

Prices for Ecuadorian bananas in the Mediterranean ranged from USD 21.00 to USD 23.00 per box, CIF, depending on brand, volume, region, and packaging factors.

In Libya, the price for Ecuadorian bananas was USD 22.00 per box, CIF, while Central American bananas were priced at USD 20.00 per box, CIF.

In Mersin, re-exported bananas of Ecuadorian origin were priced between USD 20.00 and USD 22.00 per box, influenced by brand, volume, packaging, and weight. Prices remained stable due to lower available volumes and increased demand from the Turkish domestic market. This rise in demand was partly due to recent cold weather, which had damaged significant quantities of local summer fruit. Additionally, demand from neighbouring countries was also on the rise.

During the week, the prices for Ecuadorian bananas in the Iranian domestic market ranged from 130.000-140.000 IRT at the beginning to approximately 160.000-180.000 IRT per kilogram later in the week. Indian bananas were sold for 95.000-115.000 IRT per kilogram. Banana import licenses were available in limited quantities and were sold at high prices locally among traders.

Discharge operations at the port of Bandar Abbas were disrupted by an explosion that shook the port, resulting in at least 70 fatalities and many more injuries. While the port is currently open, operations are proceeding slowly. International sources suggested that the explosion may have been caused by fuel for missiles stored in the port facilities.

The exchange rate was 1 USD = 82.500 IRT.

The prices in the Ecuadorian Spot Market for bananas started the week at around USD 12.00 to 13.50 per box for the fruit alone on Tuesday and ended the week at approximately USD 8.50 to 9.50 per box on Friday. This price decline was mainly due to resistance from several buyers who hesitated to pay the unusually high rates. Their reluctance was influenced by the timing of the bananas' arrival, which would coincide with a high availability of summer fruits. This seasonal overlap typically results in lower banana prices, as consumers prefer local seasonal fruits.

There have been no reports of vessels being fixed for fruit trade in the chartering market. Following the completion of the Chilean grape season, transporting to the USA, some vessels are now transporting Southern Hemisphere citrus to Europe and Russia. 

There were several fixtures for the fish trade, and there were no unemployed vessels. Time charter rates have remained nearly the same as last week.

As of the past week, rates for larger ships are currently approximately 90-95 US cents per cubic foot per month, while smaller vessels are seeing rates around 110-115 US cents per cubic foot per month.

Bunker Prices:

                              VLSFO        MGO

Rotterdam             $432.00       $582.50      

Gibraltar                $491.00       $662.00                

Panama Canal      $498.00       $657.00