Banana Price Faces Downward Pressure

Since 2018, the price of the banana box that Costa Rican producers sell to the German supermarket chain ALDI is falling, there is concern that other European chains will begin to negotiate lower prices.

Thursday, November 12, 2020

Representatives of the National Banana Corporation of Costa Rica (Corbana) explained that in 2018 the 18.14 kilo banana box sold to ALDI was quoted at 13.55 Euros. However, in 2019 and 2020 the amount paid for the fruit was reduced, and by 2021 a price of 11.33 euros has been set, which is equivalent to a -16% variation with respect to what was charged in 2018.

You may be interested in "Banana: Regional Exports up to September"

The importance of the price paid by ALDI lies in the fact that it is an important supermarket chain, since in addition to operating in Germany, it has branches in Poland, Denmark, the Netherlands, Belgium, France, Luxembourg, Spain, Portugal, the United States, Switzerland, Austria, Italy, Slovenia, Hungary, the United Kingdom, Ireland, Australia and China.

Jorge Sauma, general manager of Corbana, told Nacion.com that "... 'historically, the price of ALDI bananas is a reference in Europe is expected that other supermarkets react to this initiative. Although we hope that their social conscience will contain them."

Sauma added that "... price wars have always descended to the lower links of the banana distribution chain, and reach the weakest, which is the producer."

CentralAmericaData reports that Central American banana exports exceed $2.5 billion per year, with the United States, the United Kingdom and the Netherlands being the main destinations for sales.

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More on this topic

Banana: Regional Sales Fall 6%

October 2019

In the first three months of 2019, Central American countries recorded $590 million in banana sales abroad, 6% less than reported in the same period of 2018.

Figures from the Trade Intelligence Unit at CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]

Bananas: Exports to the Netherlands Up 38%

September 2018

In the first three months of the year, Central American countries registered $625 million in banana sales abroad, and exports to the Netherlands increased by 38% compared to the same period in 2017.

Figures from the information system on the Fresh or Dry Banana Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]

Banana: Costa Rican Exports Fall 9%

July 2018

Due to the effect of climatic phenomena at the beginning of the year, in the first five months of 2018, banana sales abroad amounted to $410 million, 9% less than was reported in the same period in 2017.

According to data from the Foreign Trade Promotion Office (Procomer), a comparison between the period between January and May 2017 and the same in 2018 shows that the value of banana sales abroad fell by 9%, going from $448 million to $410 million.

Market Share of Bananas from Costa Rica in Europe

October 2016

Costa Rica's share in the market for bananas imported by the European Union increased from 13.7% in 2009 to 15.2% in 2015.

The main reason behind the increase is the reduction of tariffs on bananas from Latin America, which fell from 176 euros per ton to 103 euros.  

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