Ecuador's Banana Exports Down 9% Year-on-year in First Eight Months Of The Year

According to the data of the Banana Marketing and Export Association, in the first eight months of this year, the export volume of bananas was 230 million boxes (about 18 kg/box), down 9% year-on-year, and the top three export destinations were the European Union, Russia and the Middle East, accounting for 26%, 21% and 17% respectively. In addition to Russia, the decline in exports to a number of other important export destinations was the main reason for the decline in total exports, while the increase in production costs for fertiliser and cardboard, high international freight costs and the impact of the conflict between Russia and Ukraine also contributed to the decline in export volumes. Total banana exports are expected to fall by at least 8% this year compared to last year.