In St. Petersburg, the prices for Ecuadorian bananas during week 37 ranged from USD 18.55 to USD 19.70 per box, CIF, depending on the brand, volume, and packaging, from Monday to Wednesday. Starting Wednesday, the price increased to approximately USD 19.70 per box, CIF, due to higher demand.

During that week, around 1.475 million boxes of bananas were unloaded, and an estimated 1.72 million boxes are expected to arrive in the upcoming week. The exchange rate for the US dollar was 85.66 rubles.

Prices for Ecuadorian bananas in the Mediterranean ranged from USD 17.00 to USD 18.00 per box on a CIF basis, depending on the volume, region, brand, and packaging. In comparison, bananas from Central America were valued at approximately USD 2.00 less per box.

In the Mersin Free Zone, Ecuadorian bananas re-exported to neighbouring countries were priced between USD 17.00 and USD 20.00 per box, influenced by factors such as brand, volume, packaging, and weight. Central American bananas sold for USD 2.00 to USD 3.00  per box less than Ecuadorian bananas. The US dollar was valued at 41.37 against the Turkish lira.

The Turkish central bank recently reduced its interest rate. In September 2025, during its Monetary Policy Committee meeting, the Central Bank of the Republic of Türkiye (CBRT) cut the policy rate by 250 basis points, lowering it to 40.5% from 43%. This follows a 300 basis-point cut in July.

The bank cited reasons for the rate reduction, including a slowdown in underlying inflation, weak domestic demand, and a broader disinflation strategy. Despite this easing, the CBRT remains committed to a tight monetary stance due to ongoing risks from food and services inflation.

Prices in the Iranian domestic market have decreased slightly compared to the previous week, primarily due to an increase in imported banana volumes. Ecuadorian bananas were priced between 125.000 and 135.000 IRT per kg, while Indian bananas were selling for approximately 93.000 to 100.000 IRT per kg. The import volumes from India have increased, with a 13.5 kg banana box priced at around USD 9.25 to 10.25 CIF Bandar Abbas.

The exchange rate was at 1 USD = 99.000 IRT, showing a slight improvement for the local currency following positive developments in the nuclear negotiations between Iran and the International Atomic Energy Agency (IAEA). The two parties have reached a technical agreement in Cairo aimed at resuming inspections of nuclear facilities.

Prices in the Ecuadorian Spot Market reached peaks of USD 12.00 to USD 13.00 per box during the week,  for the fruit alone. The high levels  were  attributed to reduced volumes of good-quality bananas and high competition among exporters. Demand for Ecuadorian bananas in the Russian market has increased. Prices fluctuated based on quality, certification, the area where the bananas were sourced, and the day of the week. Generally, prices have been rising throughout the week.

Production is currently low due to colder temperatures and reduced periods of sunlight. No improvement is expected soon. Demand is anticipated to increase as people return from vacation and schools reopen in many banana-importing countries, which is likely to push selling prices in Ecuador even higher.

Time Charter Rates for both larger and smaller vessels have remained relatively stable compared to the previous week. Currently, rates are approximately 55 to 60 US cents per cubic foot per month for larger units, while smaller vessels are seeing rates of about 85 to 90 US cents per cubic foot per month.

Bunker Prices:

                                    VLSFO          MGO

Rotterdam                 $459.00         $685.00        

Gibraltar                    $507.50         $724.00        

Panama Canal         $483.00         $711.00