Retailers try to keep banana prices down

It’s a dilemma that would make even the most sane, well-meaning retailer go … well … bananas.

Friday, January 16, 2009

By all accounts, the cost of bananas to retailers is going up. Flooding in Ecuador dating back to last February, along with weather issues and a recent earthquake in Costa Rica have contributed to significant reductions in global supply. That, along with increased demand globally, has put pressure on costs.

In many instances, those rising costs would be passed along to consumers in the way of higher prices in the grocery produce aisles.

Except, we’re talking bananas here. And consumers really keep tabs on prices and care what they pay for when it comes to this favorite fruit staple.

More on this topic

Central American Bananas: 78% bought by 3 Countries

July 2017

In 2016 the countries in the region exported $2,393 million worth of bananas, and 78% of them went to the United States, the Netherlands and Italy.

Figures from the Information System on the fresh and dried banana market in Central America compiled by the Business Intelligence Unit at CentralAmericaData: [Figure caption = "Click to interact with the graphic"]

Opportunity for Bananas in China

September 2014

A drop in local production and the volatility of short-term contracts signed with the Philippines, its leading supplier, has created opportunities to export bananas to China.

From a statement issued by the Foreign Trade Promotion Office of Costa Rica (Procomer):

In the first 7 months of this year, Ecuadorian banana exports to China increased by 704.6%, going from $7.7 million in 2013 to $62.2 million in 2014.

Proposal to set Banana Prices in Panama

June 2011

The government is analyzing the possibility of determining the export sale price via decree.

Setting a base sale price and periodically reviewing changes in costs is a possibility that is being discussed within the government, where they are awaiting a study of production costs and other factors to determine the feasibility of the proposal.

EU And Central America Ratify Banana Agreement

June 2010

An agreement signed yesterday allows the banana industry to export to Europe paying fewer tariffs.

Currently, the tariff stands at 176 Euros per metric ton. With the agreement, it will be immediately lowered to 148 Euros, and will be gradually reduced to 114 Euros until January 2017.

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