Banana selling prices in St Petersburg were USD 22.40-24.70 per box CIF, according to brand, volume and type of packing, an increase compared to the previous week, notwithstanding a weak demand. In week 47, nearly 1.55 million boxes were discharged, and around 1.48 million are expected for week 48. The effect on the market remains to be seen as some specialised reefer vessels loaded in Ecuador are heading to St Petersburg, taking the longer route through the Magellan Strait due to the troubles at the Panama Canal.

As low water levels limit movement across the Panama Canal, a potential solution is in the works to mitigate the effects of future droughts on the region. The Canal's board of directors submitted a proposal to the Panamanian government to advance the process of pursuing a set of solutions, some of which fall outside of the Canal's watershed, a Panama Canal Authority spokesperson told the press.

CMA CGM is set to become the first primary carrier to apply a new surcharge on shipments transiting the Panama Canal in response to the ongoing capacity reductions. The world's third-largest shipping line said the reduced capacity measures introduced by the waterway authority this year – and forecast to continue into 2024 – were pushing up its costs.

Through a note to its customers, Maersk announced that it will move its services from the Contecon Guayaquil terminal to DP World Posorja in 2024. The company indicated that these are the Ecumed services that connect Ecuador with Europe, the AC2 with Asia and the Guayaquil Feeder, which consists of an intra-American route.

Bolivia's Deputy Minister of Foreign Trade, Benjamín Blanco, announced the lifting of the blockade on the Yacuiba international bridge, on the border with Argentina, after receiving a first payment of 30% of the $US 12 million owed by that country to Bolivian banana producers.

Chile's Agricultural and Livestock Service (SAG) will soon send a technical delegation to oversee the inspection of Paraguayan bananas as part of the process to allow the import of this fruit. It was confirmed by the technical general director of the National Service of Plant and Seed Quality and Health (Senave), Alfredo Gryciuk, after the recent visit to Chile by a Paraguayan delegation led by the head of the institution to familiarise themselves with the phytosanitary controls of this market.

Argentine banana growers from the province of Formosa, grouped in the Sol y Campo Cooperative, began to sell in the Central Market of Buenos Aires thanks to the high demand for the fruit after Bolivia and Paraguay stopped exporting to Argentina due to lack of payment. Pánfilo Ayala, President of the Laguna Naineck Branch of the FAA and banana producer,

By 2024, the Colombian banana sector will have a significant growth projection thanks to the European Union's environmental, social, and labour sustainability requirements being met without any problem. It was pointed out by the President of Augura, Emerson Aguirre, who explained that, for example, the jobs are 100% formal, and 92% are unionised and comply with the living wage in more than 111%.

Rodolphe Saade, the CEO of CMA-CGM, the world's third-largest container line, has cautioned that the shipping industry is set to face turbulence due to new vessels ordered during the shipping boom of the pandemic, entering service in 2024. Addressing concerns at an event in Paris to celebrate the establishment of a non-profit AI research lab supported by his family-controlled company based in Marseille, Saade highlighted the challenge in the sector due to the influx of container ships in the coming year, potentially creating an imbalance between supply and demand.

A shipment of Queensland bananas and melons to Japan aims to support an analysis of how shipping conditions impact the fruits. Queensland's Department of Agriculture and Fisheries has been working with industry partners for four years to analyse the impact of shipping and supply chain conditions such as storage temperature and ripening conditions on the appearance and flavour of the fruit. Pacific Coast Produce has shipped red-wax-tipped Ecoganic bananas to Japan as part of the trial, and Daintree Fresh has shipped Emperor's Pearl melons.

The recognition corresponds to the Ecuador Zero Carbon Program (PECC) of the Ministry of the Environment, Water and Ecological Transition, which the company adhered to in 2021, in line with its robust decarbonisation plan. DP World Posorja is one of the 28 strategic partners of this flagship environmental program, where the Ministry of Environment, Water and Ecological Transition recognises organisations that quantify, reduce, and offset their CO2 emissions.

The Ministry of Transport and Public Works of Ecuador reported that the construction work of Pier 6 of Puerto Bolívar is close to completion. This after announcing an advance of 9,5%. What has been achieved to date includes an investment of USD 180,700,000, consisting of the materialisation of a container yard, refrigeration warehouse and access roads. In this way, Pier 6 will be able to "receive larger vessels, allow access to new shipping lines, and diversify export and import cargo," according to the Ecuadorian ministry.

A new warehouse site in Rotterdam, uniquely located within APM Terminals' facility at Maasvlakte II, is set to make tremendous advances for the global trade community. The new cross-dock warehouse is being built at the APM Terminal facility at Maasvlakte II within the Port of Rotterdam. The port is located at the mouth of the Rhine-Meuse-Scheldt River delta, making it a natural gateway to and from Europe.

Note that the Growers/Exporters have been arranged in group: Dizon Group: FS Dizon&Sons, FranPac Agri-Business,Inc. and Highland Agri-Venture, Lorenzo Group: Lapanday Agri. & Dev. Corp., Lead Export, Lapanday Foods Corp / Anflo Group: Tagum Agr. Dev.Co., Anflo Banana Corp. (Worldwide Dev. Corp.) / Stanfilco a Div of Dole Phils. / Sarangani Agr.Co.Inc., - a corporate grower of Stanfilco / Sumifrut / Marsman Drysdale Group: Marsman Estate Plt. Others would be: Vizcaya Pltn., TRAIN, Nader & Ebrahim S/O Hassan Phils., Mt. Kitanglad Agri-Ventures, Inc., Greenhope Agri-Dev., Corp., Mindanao Agri Banana Ventures Corp., MA Sharbatly / Del Monte is a special member. Source: Pilipino Banana Growers & Exporters Association

According to the country's leading business association, the roadblocks initiated almost one month ago in Panama against a controversial mining contract have caused losses of 1.7 billion dollars. The protests erupted on October 20 when Congress approved a contract signed by the government allowing Canadian company First Quantum Minerals to operate the largest open-pit copper mine in Central America for 40 years.