Brazilian banana exports struggle with sluggish start in 2024

Brazilian banana exports experienced a notable downturn in January of this year, according to data from ComexStat. Only 2.5 thousand tonnes were shipped, marking a staggering 65% decline compared to the same period last year. The revenue also took a hit, plummeting by 64% to $1.08 million (FOB) in the same comparison.

This decline affected shipments to both the European Union and the Mercosur, Brazil’s primary export destinations for bananas. Analysts attribute this trend to various factors, including the economic instability in Argentina, the competitive pricing of bananas from Paraguay, and the diminished supply from the Northern region of Santa Catarina, which is traditionally a key exporting area.

The following chart shows Brazilian exports of bananas in containers between Jan 2022 and Dec 2023. The data is from DataLiner.

Brazilian Banana Exports | Jan 2022 – Dec 2023 | TEUs

Source: DataLiner (click here to request a demo)

As February progresses, experts anticipate that these challenges will persist, likely leading to continued constraints on banana exports from Brazil.

Source: HF Brasil

Click here to read the original article: https://www.hfbrasil.org.br/br/banana-cepea-exportacoes-iniciam-2024-em-baixa.aspx

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