Canarian banana prices source increased significantly in the last week of May, reaching 1.65 euros per kilo, that is 3.8% more than in the previous week and almost 140% above the average of the last five years, according to the latest data from the Ministry of Agriculture, Fisheries and Food (MAPA).
Behind this increase is the drop in production caused by the inclement weather since the end of last year. According to José Carlos Rendón, president of Asprocan (Association of Banana Producers of the Canary Islands), weather phenomena such as strong winds have reduced the harvest, leading to a decrease in supply and a rise in prices.
"There is little supply, and this has caused prices to rise", Rendón stated. However, he added, the situation should improve with the more stable weather in the coming months. He is confident that production will stabilize by the end of the summer, allowing prices to normalize.
The sector recognizes that this situation could have undesired commercial consequences. Rendón admits there is a fear that some consumers will opt for bananas over the Canarian product if prices remain high. The current increase does not benefit producers, he stressed. "Since there is less volume, there is also less income."
Despite the price increase, Asprocan wanted to highlight the advantages of the local product: higher quality, food safety standards, and a lower carbon footprint than imported bananas.
Total banana production so far this season stands at 417,596 tons, just 1% less than in 2024, but 1% more than the average of the last five seasons. However, exports have fallen by 26.8% compared to the previous year, according to data from the Ministry, mainly due to the lower availability of fruit. These sales abroad account for 23% of total production.
In parallel, the lack of domestic supply has boosted imports, especially from Costa Rica, which already accounts for 57% of Spain's banana imports. In the first three months of the year, these imports grew by 29% compared to the average of the last five years.
Source: efeagro.com