In week 46, banana selling prices in St. Petersburg ranged from USD 20.00 to USD 21.35 per box, CIF, depending on brand, volume and packing. The market has not improved due to weak demand for the fruit. Approximately 1.58 million boxes were discharged, and nearly 1.67 million boxes are expected in the incoming week. The exchange rate for the US dollar was 80.60 RUB.

Prices for Ecuadorian bananas in the Mediterranean ranged from approximately $15.00 to $16.00 per box, CIF. Pricing depended on factors such as brand, volume, packaging, and region. In Libya, both Ecuadorian and Central American bananas were selling for around $18.00 per box, CIF.

In the Mersin Free Zone, prices were lower compared to the previous week, ranging from $13.50 to $15.00 per box for re-exported Ecuadorian bananas. Central American bananas were priced about $2.00 less per carton. Prices varied based on brand, volume, packing, and weight. The USD exchange rate was 42.29 against the Turkish Lira.

Prices dropped significantly from the previous week due to decreased demand from Iranian buyers, who had been purchasing large volumes of Indian and Pakistani bananas in their domestic market. In Iran, prices for Ecuadorian bananas ranged from 120,000 to 130,000 IRT per kg, while Indian bananas were priced between 83,000 and 90,000 IRT per kg. Due to the high volume of bananas shipped to Iran, the price for a 13.50 kg box of Indian bananas decreased to $6.75 CIF at Bandar Abbas. Local traders anticipate that the market may further deteriorate due to the increased volumes of bananas expected in the coming weeks.

Additionally, the Iranian Toman (IRT) weakened against the USD, trading at 113,000-114,000 IRT.

Prices in the Ecuadorian Spot Market ranged from USD 8.50 to 9.50 per box for the fruit only. During the week, exporters intensified their efforts to secure contracts with growers, who remained hesitant to accept offers of USD 8.00 to 8.75 per box weighing 41.5 to 43 pounds. High demand from buyers across various import markets boosted growers' expectations of receiving prices above the official rate throughout 2026, given the high prices they received during almost all of this year.

There were no reports of banana shipments in the Chartering Market. Vessels were engaged in the fish trade and transporting potatoes to North Africa. Shipments of stone fruit and grapes have started in South Africa, and citrus shipments from Morocco are also continuing to Northern Europe.

The time charter rates for larger vessels are around US cents 50-55 per cubic foot per month, while smaller ships are seeing rates of approximately US cents 60-65 per cubic foot per month. Freight rates are expected to increase soon.

Bunker Prices:

                              VLSFO         MGO

Rotterdam               $433.50        $725.50       

Gibraltar                  $463.00        $783.00       

Panama Canal        $480.00        $791.00