In week 11, the selling prices for Ecuadorian bananas in St. Petersburg ranged from USD 17.0 to 18.10 per box CIF. These prices varied based on factors such as brand, quality, volume, and type of packing. Low demand impacted sales.

During this week, approximately 2.059 million boxes were discharged. For week 12, around 1.730 million boxes are anticipated to be discharged.

The exchange rate during this period was 1 USD = 91.64 RUB.

Selling prices in the Mediterranean for Ecuadorian bananas  were USD 19.0-20.0 per box CIF, depending on brand, quality, volume, and region. Prices peaked up to USD 20.0-21.0 in Libya.

Central American or Mexican Bananas: These were sold at around USD 18.0 per box CIF.

Mersin Free Zone Prices: Prices varied from USD 16.0 per box for the re-exported Ecuadorian bananas to USD 18.75-19.0 per box  for the same origin, depending on brand, volume, and quality. Bananas from Central America were sold at around USD 12.50-15.0 per box.

Exchange Rate: The exchange rate was 1 USD = 32.21 TL, and the further weakening of the Turkish currency made imports more expensive.

Banana prices in the Iranian domestic market were not favorable during the week . The prices dropped due to the large volume imported from India. Some containers were held at  the hub port of Jebel Ali  in the UAE  for at least 10-14 days due to port congestion. Prices fluctuated from 60.000-65.000 Toman  per kg for Ecuadorian bananas and 48.000-52.000 Toman for Indian bananas. With the Iranian New Year approaching on March 20, it is expected that sales prices could  improve after the holiday period.

The price for the box of 13.50 kg of Indian bananas was around USD 11.0 CIF Bandar Abbas.  A Specialised Reefer Vessel was anticipated to unload approximately 250.000 boxes of bananas from Davao in Bushehr in the incoming days.

The exchange rate at the time was 1 USD = 59.000-60.000 Toman (IRT).

The prices in the Ecuadorian Spot Market showed a variation during the week ranging from USD 7.50 to USD 10.50 per box for the  fruit only. However, the prices were mainly between USD 9.0 and USD 10.50 per box for fruit of good quality, depending on the day of purchase.

Shipments of fruit from South Africa have ceased, while grape shipments from Chile to the USA persist. Brokers have also reported the inaugural shipment of kiwi from New Zealand to China, with additional shipments anticipated from the island to the Far East. Concurrently, a significant number of vessels are engaged in the squid campaign in the Southern Atlantic fishing grounds. Time Charter (T/C) rates,  for larger vessels were  95 US Cents per cubic foot (cbft) per month, projected to rise further. T/C rates for smaller tonnage vessels hover around 90-95 US Cents per cbft per month.

Bunker Prices:

                        VLSFO           MGO

Rotterdam     $595.50         $792.50

Gibraltar        $630.00         $866.00        

Panama         $633.00         -