South Korea has emerged as the fastest-growing market for Ecuadorian bananas in the first half of 2024, importing over 1.6 million more boxes than in 2023. This surge is reflected in the latest data from the Association of Marketing and Export of Bananas of Ecuador (Acorbanec), which shows a 271% increase in South Korean imports of Ecuadorian bananas from January to June.

The volume of bananas traded showed modest growth during the first half of 2023, indicating the potential for a significant recovery after the previous year's decline. With global exports increasing by around 0.3% compared to 2022 and the industry's leading players adapting to the changing market conditions, there is a sense of optimism for the future of the banana trade.

The Association of Banana Growers of Colombia, Augura, along with the Association of Banana Growers of Magdalena, Cesar, and La Guajira, Asbama, have spoken out about the situation regarding international banana prices. Both associations emphasized their desire for banana prices in the global market to increase so that the relationship between the commercialization value and production costs is fairer.

A resurgence of Moko in the Ecuadorian banana-producing province of Los Rios raises alarms about the rapid spread of this disease. It appeared over a decade ago in El Carmen in the province of Manabí, but what seemed to be only a problem for plantain crops is now also affecting bananas. The spread of the bacteria is raising alarms in this industry, the country's second source of non-oil foreign exchange.

The supply of banana imports to the United States has been significantly hampered due to weather disturbances in key producing regions such as Mexico and Guatemala. Andy Thomas-Stivalet, a representative from Kadivac Produce, explains that storms, unseasonably high temperatures, and severe droughts have slowed plant growth and reduced overall yield.

Banana selling prices in St. Petersburg, influenced by brand, volume, quality, and packaging, ranged from USD 16.25 to 17.95 per box CIF. Prices were lower than the previous week due to weakened demand, attributed to high temperatures in several regions of the Russian Federation and the abundance of local summer fruits available in the market. Approximately 1.035 million boxes were discharged in week 29, with an expected increase to nearly 1.515 million boxes for week 30. The exchange rate was 1 USD = 87.88 RUB. Banana selling prices in the Mediterranean ranged from USD 15.50 to 17.50 per box CIF for Ecuadorean bananas, depending on the region, brand, quality, and volume. An exception was Libya, where sales reached USD 21.00 to 22.00 per box CIF, depending on brand, volume, and quality. Bananas from Central America were sold at around USD 19.00 to 20.00 per box CIF. Prices in Algeria were in line with the average price in the Mediterranean, with boxes priced at around USD 16.00 per box CIF. In the Mersin Free Zone, prices for re-exported bananas of Ecuadorean origin ranged from USD 16.00 to 18.50 per box, with peaks of USD 21.00 to 22.00 for extra quality and heavy boxes.

In the Colombian region of Magdalena, efforts are being made to protect this territory from the Fusarium TR4 disease. According to Agrosavia researcher Juan Camilo Gómez, the fungus is contained in 11 farms in this northern region of Colombia, including La Guajira. These efforts, a result of the alliance between ICA and Agrosavia, have proven successful. Juan Camilo Gómez highlights six farms in Magdalena and the rest in the neighbouring department.

The severe drought conditions that had necessitated restrictions on ship passages through the Panama Canal were mitigated by increased rainfall. The Panama Canal Authority (APC) has announced plans to augment the number of daily booking slots for vessels to 35 in August, a significant increase from the previous limit of 24 crossings per day set in November 2023.

Red Sea shipping disruptions have a 'cascading impact,' with ports across Asia experiencing delays. The company is working to secure additional containers. Denmark's A.P. Moller-Maersk (MAERSKb.CO) said on July 17 that disruptions to its container shipping via the Red Sea had extended beyond trade routes between the Far East and Europe to its entire global network.

The US Federal Maritime Commission (FMC) has delayed the start of the Gemini Cooperation Agreement between container shipping lines Maersk and Hapag-Lloyd due to insufficient information. The US Maritime Agency determined that the agreement needed more detail to analyze its potential competitive impacts thoroughly.

CMA CGM has announced a strategic partnership with Google to accelerate the integration of artificial intelligence (AI) across its operations worldwide by leveraging Google's range of technologies. "I am pleased to announce this global partnership between the CMA CGM Group and Google to accelerate AI adoption across our operations," said Rodolphe Saadé, Chairman and CEO of CMA CGM.

The Ministry of Agriculture, Fisheries and Mining reports significant damage to several of its facilities and agricultural projects following Hurricane Beryl's passage over Jamaica on July 3, 2024. One of the citrus budwood houses has collapsed, resulting in the loss of one of the two budwood facilities. Additionally, one of the parent plant houses has been damaged. The station also suffered 100% damage to its commercial crops and lost the packing she.

Banana farmers have appealed for government support after severe winds associated with the passage of Category Four Hurricane Beryl blasted through their farms, snapping and uprooting banana trees. Agriculture Minister Alfred Prospere has promised to provide the affected farmers with as much support as possible.

A court ruling could permit the construction of a new reservoir to feed the water-starved Panama Canal, but the waterway managers said on July 8 that the project might take six years to build. For years, Panama has wanted to make another reservoir to supplement the main supply of water from Lake Gatun. Still, a 2006 regulation prohibited the waterway from expanding outside its traditional watershed.

Global demand for ocean freight container shipping hit a record in May amid soaring spot rates and severe port congestion, according to data released by Xeneta and Container Trades Statistics. In May, 15.94 million TEUs were transported by ocean, surpassing the previous 15.72 million TEUs from May 2021. Year-to-date volumes are just under 74 million TEU, a 7.5% increase compared to the first five months of 2023.