From January to September 2022, Ecuadorian banana exports were at 256,590,000 boxes, reflecting a decrease of 8 percent when compared to the same period last year, as reported by Expreso, using figures from the Association of Marketing and Export for Ecuador (Acorbanec).
As stated in a recently released report, the drop is mainly attributed to a lower shipment of fruit to key markets such as the EU and the U.S.
According to the report, 24,061,822 boxes of bananas were exported to the U.S., which was 16 percent less, while shipments to Europe totaled 67,345,042 boxes which were 12.6 percent less. East Asia (-11.36 percent), Eastern Europe (-51.44 percent), Africa (-37.41 percent), and Russia (-.04 percent), all experienced declines as well.
Lower sales are attributed to several factors, including lower production, due to the cold and lack of maintenance in certain crops.
At the beginning of the year, the lack of container and shipping spaces played a major role. Acorbanec explained that the armed conflict between Russia and Ukraine and sanctions against Russia by several countries caused great economic problems in the Russian market.
One result was the devaluation of the ruble (almost 60 percent in a month) which raised the price of imported products such as bananas, causing consumers to eat less of the fruit.