Banana selling prices in Russia didn't improve compared to the past week, and prices were USD 20.30-22.45 per box CIF according to brand, quality, volume, and type of packing.  Nearly 573,000 boxes were discharged in week 51, and around 1.5 million are expected for week 52. 

Bananas of the regular service from Ecuador loaded in week 47 are expected to arrive with almost two-week delay on December 28th due to the more extended voyage via Magellan Strait instead of the Panama Canal. 

The exchange rate was 1 USD=91.71 RUB. 

Selling prices in the Mediterranean were USD 18.00-19.00 per box CIF for Ecuadorian bananas and around USD 2.00 less per box for the Central American and Colombian origin, depending on brand, quality, volume, region, and packing. 

Prices were depressed in Algeria, where importers lost around USD 3.00-4.00 per box due to the large volumes of bananas available from past weeks. A vessel, which left Ecuador on November 10 with around 168.000 boxes of bananas, unable to transit through the Panama Canal and had to circumnavigate Southern America, passing through Magellan Strait, is finally expected to discharge at Algier on December 23 after a considerably longer trip of over 4 weeks. 

Mersin Free Zone prices for re-exported bananas, according to brand, volume, quality, and weight, were USD 19.50-24.00 per box for the Ecuadorian fruit, and Central American and Colombian bananas were about USD 18.00-20.00 per box. The prices increased compared to the previous week due to the low volumes available. The Exchange rate was 1 USD 29.25 TL. 

The banana price in Iran for the 13.50 kg Indian bananas box was USD 10.50 C&F Bandar Abbas. 

Domestic market prices were 70.000-80.000 Toman with peaks of 90.000 Toman per kg for Ecuadorian bananas due to the high demand and low volumes of fruit available. 

Indian bananas sold at around 56000- 62000 Toman per kg. 

The exchange rate was 1 USD 503.000-550.000 IRR or 50.300-50.555 Toman. 

The Ecuadorian Spot market prices were USD 7.00-9.00 per box, only for the fruit during the week. The higher prices were paid in Los Rios banana-producing region. 

Volumes of bananas increased due to more favourable weather, and expectations are for production to keep rising with the increase in temperatures, longer solar luminosity periods, and the start of the rainfalls. However, the Niño phenomenon expected to strengthen might play an essential role in the industry's future. 

The Chilean grape season for the USA started in week 49 followed by one specialized reefer vessel on week 50 and 51. One more vessel is scheduled to load in week 1 of 2024.The regularity of shipments until April will very much depend on the Panama Canal transit spots available. 

The Time Charter levels in the Chartering Market were almost the same as last week, with 45-50 US Cents for larger and smaller ships.  

Bunker prices:        

                              VLSFO                    MGO        

Gibraltar                $634.00                 $838.00  

Rotterdam             $555.50                 $767.00  

Panama Cana       $593.00                 $827.00