In St. Petersburg, banana selling prices fluctuated between USD 17.25 and USD 19.45 per box CIF. The price variation was contingent upon factors such as the brand, quality, volume, and type of packaging. Sales didn’t improve compared to the previous week. This stagnation in sales can be attributed to a need for stronger market demand. During week 10, approximately 1.35 million boxes of bananas were discharged, and around 2.02 million boxes are anticipated to be discharged in the 11th week. The prevailing exchange rate was 1 USD = 90.75 RUB during this period. In the Mediterranean market, Ecuadorian banana prices ranged from USD 17.00 to USD 18.00 per box CIF. These prices were influenced by various factors such as brand, region, volume, and packing. In contrast, Central American fruit was sold at a lower price, around USD 2.00 less per carton.

Ardashir Shahraki, the deputy head of the provincial agriculture department, has recently highlighted Iran's potential to transition from a banana importer to an exporter. This significant shift could be realized by doubling the area of banana plantations in the Sistan and Baluchestan provinces in the southeast. At present, the province boasts approximately 7,140 hectares of banana plantations. By expanding this area to 15,000 hectares, Iran could meet its domestic demand for bananas and export surplus produce to other markets.

On Tuesday, March 5, 2024, Ecuador's banana exporters reported a 12% decline in exports to all their destinations in January. They attribute this drop to low production and the lack of signed contracts with international customers. Compared to January 2023, around 4.5 million fewer boxes of bananas were exported in the first month of the year.

The Department of Agriculture and Farmers' Welfare in India has recently published the final estimates for the 2022-23 period and the first advance estimates for 2023-24, detailing the area and production of various horticultural crops. The data, compiled from information received from States, Union Territories, and other government sources, provides an insightful overview of the country's horticultural landscape.

Following Australia's announcement in February of this year that it would authorize the world's first genetically modified (GM) banana, the QCAV-4, resistant to Fusarium Race 4 or TR4, a news portal recently announced that Costa Rica could also introduce its first GM product to the market: a disease-resistant banana variety. According to the report, the U.S. Foreign Agricultural Service (FAS) in San Jose revealed that the new variety would resist the Black Sigatoka and Fusarium Race 4 or TR4 wilt.

The associations of banana producers and exporters from Latin America and the Caribbean, representing Ecuador, Colombia, Guatemala, the Dominican Republic, and Peru, advocate for adopting "FairTrade" practices. They hope retailers will embrace this methodology to calculate a fair price that factors in environmental sustainability efforts and fair wages.

The Ministry of Agriculture, Forests and Fisheries (MAFF) of Japan has requested Thailand to exhaust the existing import quota of 8,000 tonnes before applying for an increase. Under the Japan-Thailand Economic Partnership Agreement (JTEPA), Thai bananas currently enjoy a tariff exemption for up to 8,000 tonnes. According to Narumon Pinyosinwat, the Thai trade representative, this quota is nearly exhausted.

Chile's Agricultural and Livestock Service (SAG) visited Costa Rica to carry out inspections in banana plantations and authorize the export of this product to its country, official sources recently reported. The Costa Rican Ministry of Agriculture and Livestock (MAG) and a banana company interested in starting shipments received the Chilean group, who visited both the production and packaging sites.

A horticulturist from Northland is on a mission to reduce the carbon footprint of one of New Zealand’s most beloved fruits - the banana. In 2022, New Zealand imported over 81,000 tonnes of bananas, accounting for about a third of all fresh produce imports, as reported by the sizeable pan-industry group United Fresh. However, Geoff Mansell, the orchard manager at Kotare Subtropicals, a wholesale nursery located in Maungatapere, southwest of Whangārei, envisions a future where consumers can enjoy locally grown bananas.

Maersk has announced a rate increase for all types of cargo originating from India and West Asia. According to a trade notice, cargo en route to US and Canadian ports will be subject to a $1,000 fee per container starting from March 2, 2024. This announcement has raised concerns among shippers about its potential impact on trade. Notably, since the onset of the Red Sea Crisis, shippers have been grappling with delays in cargo reaching US destinations.

US consultancy firm AlixPartners has proposed that THE Alliance, which is predicted to be the weakest box shipping group after Hapag-Lloyd’s departure next year, should explore a partnership with MSC to maintain competitiveness. Following the dissolution of the 2M Alliance, MSC will operate independently as Maersk aligns with Hapag to form the Gemini Cooperation in February next year.

In Ecuador, a significant shift in the banana export industry has occurred. The Danish company, Maersk, has moved its operations from Puerto Maritimo of Guayaquil, operated by Contecon, to the port of Posorja, managed by DP World. This change, announced in December of the previous year and made official on January 4 with the arrival of the vessel MSK Evora, has already impacted port statistics.

Chiquita, a leading player in the banana industry, has made a significant pledge to extend its protection efforts for the Nogal Reserve in Costa Rica. This commitment, which marks two decades of dedicated conservation work, is not merely about preserving a tract of land; it’s a testament to a vision that intricately links the fate of biodiversity with our own survival. The Nogal Reserve, a vibrant oasis of biodiversity nestled between the Sucio River and a sprawling banana plantation, has evolved over the last 20 years into a crucial wildlife corridor.

In Rwanda, scientists have achieved a significant milestone in combating the devastating banana Panama Diseases. They have utilized agricultural biotechnology to develop genetically modified (GM) banana varieties that exhibit resistance to this lethal disease. Athanase Nduwumuremyi, a senior scientist at the Rwanda Agriculture and Animal Resources Development Board (RAB) and coordinator of the Open Forum on Agricultural Biotechnology in Africa (OFAB) in Rwanda, has expressed optimism about the adoption of GM crops.

Equifruit, a trailblazer in the Fairtrade banana market, has recently forged a substantial partnership with Walmart Canada to supply Fairtrade organic bananas in British Columbia and Ontario. This pivotal accomplishment mirrors a wider surge in the demand for Fairtrade bananas across Canada, a trend that sharply contrasts with the relatively modest growth observed in the United States.