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.

Over the past decade, banana production in Guadeloupe and Martinique has experienced a significant 30% decrease. This decline is attributed to several factors, including the black Sigatoka disease, climate change, escalating costs, and competition from low-cost producers. Bananas, France's second most favoured fruit, are increasingly imported rather than sourced locally from Guadeloupe and Martinique.

The agricultural community of La Palma rallied to protest the ongoing crisis in the banana industry, which has been grappling with sales below production costs for an estimated 15 months. The demonstration, attended by an estimated 700 to 2,500 individuals according to various sources, served as a powerful display of unity within the agricultural sector. Miguel Martín, the president of the Palm Association of Farmers and Ranchers (ASPA), expressed his gratification with the turnout and underscored the sector’s demands.

Banasan, the leading Colombian banana exporter based in Santa Marta with over 18 years of experience in the market, exports approximately 13 million boxes of bananas annually from small, medium, and large producers. The company reaffirms its commitment to the care of natural resources. With the ASR4WS Project, Banasan aims to strengthen water security in Zona Bananera through a feasibility study of artificial recharge and recovery of aquifers on the region's farms.

Indian students were exposed to recent developments in agricultural research, especially in banana cultivation, during the National Science Day celebrated by the National Research Centre for Banana (NRCB) here on Wednesday. Around 3,500 school and college students, banana farmers and other stakeholders from Tiruchi and neighbouring areas participated in the event during which they were showcased the research activities and achievements of the institute and the advanced technologies developed on various aspects of banana production.

In Russia, the banana market has recently seen a downward price trend. The decline is primarily due to an oversupply of the fruit and a corresponding lack of demand. Most sales, determined by brand, volume, quality, and packaging, were priced in St Petersburg at approximately USD 18.30 to USD 19.40 per box CIF basis. However, the overall range of prices fluctuated between USD 17.20 and USD 20.50 CIF . The exchange rate was 1 USD, equal to 90.84 RUB during this period. The prices for a 19 kg box of Ecuadorean bananas in the Mediterranean market varied between USD 16.0 and USD 19.0 per box CIF. The price range was influenced by brand, quality, region, volume, and packaging factors. Algeria recorded the highest prices, with the cost per box reaching approximately USD 18.50 to USD 19.0 CIF. Conversely, Libya reported the lowest prices for Ecuadorean bananas, with sales averaging around USD 16.0 per box CIF. Central American bananas were even more affordable in Libya, ranging from USD 14.50 to USD 15.0 per box CIF.

Ecuador’s President, Daniel Noboa, has officially announced his intention to run for reelection in the upcoming elections scheduled for February 9, 2025. He will represent his party, which he characterizes as a “national movement”. The party is expected to be fully operational by early April. Noboa, who became the youngest president at the age of 36, took office in late November 2023 for a term of one and a half years.

Fresh Del Monte Produce experienced a downturn in its stock due to lower-than-expected earnings for the fourth quarter. The primary reason for this was a decrease in banana sales, which was partially offset by robust pineapple sales and increased avocado prices. Following a review of its North American operations, including Mann Packing, the company reported a $131.2 million impairment charge. Despite this, Fresh Del Monte raised its quarterly dividend by 25%.

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers. FOR SUBSCRIPTIONS AND ADVERTISEMENT PLEASE CONTACT admin@novamedia.ws

Fyffes intends to phase out its namesake label for its bananas sold in mainland Europe. The products will instead be sold under the name of the Dublin-based company’s new consumer brand, Trudi’s. Fyffes’ move applies solely to its “premium banana segment”, the group told Just Food, and excludes produce sold to the UK and Ireland. Trudi’s was launched last October, with the goal of marketing Fyffes’ bananas as healthy products that also help to support the communities where they are grown in Costa Rica.

Shares of Dole advanced after the company's fourth-quarter profit popped up and its adjusted earnings were twice as high as analysts had been expecting. The stock was up 3.4% at $11.50 in premarket trading. Shares had fallen 9.5% year-to-date when the market closed Wednesday. The Irish-American agricultural company posted a profit of $22.3 million, or 23 cents a share, compared with $6.8 million, or 7 cents a share, in the same quarter a year ago.

The Burhanpur district administration inaugurated a two-day Banana Festival aimed at enhancing the quality and quantity of the crop. The festival, which is part of the “one district-one product” initiative, provides a platform for selling bananas and setting up industries to produce its byproducts, thereby generating employment opportunities.

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its Fresh Del Monte Produce position by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,385 shares of the company's stock valued at $693,000 after acquiring an additional 615 shares in the last quarter. Barclays PLC grew its Fresh Del Monte Produce position by 91.8% in the fourth quarter.

Banana selling prices in St Petersburg ranged from USD 20.10 to 22.25 per box CIF. Approximately 1.79 million boxes were discharged in week 8, and around 2.25 million are expected for week 9. The exchange rate was 1 USD = 92.44 RUB. The Russian Federation had a long weekend as Friday, February 23rd, was a national holiday, the Public Life Defender of the Fatherland Day. Most schools, banks, and official buildings were closed on this day. After the ban on banana imports from five Ecuadorian companies was lifted, all discharge and custom-clear operations were expected to proceed smoothly. However, cold temperatures during the week delayed operations in the St Petersburg port. The weather improved later in the week. In the Mediterranean, prices for Ecuadorean bananas were USD 17.0-18.0 per box CIF, depending on the brand, volume, packing, and region, with peaks up to USD 20.0 in Libya. In Algeria, prices were around USD 17.0 per box CIF, which only allowed importers to break even without any gain.

The Ecuadorian Federation of Exporters (Fedexpor) has called for prudence in the nation’s international trade dealings. This appeal follows Russia’s recent decision to lift suspensions on five Ecuadorian banana exporting companies. Miguel Ribadeneira, Fedexpor’s president, underscored the necessity of robust international relations, asserting that Ecuador cannot afford to lose even a single dollar in exports.