ECUADOR: PRICES And Review Of The BANANA MARKET
 

Hello everybody!



I think this is the topik for people that are involved in the international trading of bananas.

Lets share information about the market in Ecuador!


Best regards
Diana

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

WEEK 32 (Agust 05th - Agust 11th)

The price in the banana SPOT market went a little bit down due to law demend and increase of the production in the other countries of Latin America. Multinational companies like Chiquita and Delmonte increased their volumes in Colombia and Costa Rica.

You could buy this week a carton box of bananas of 18.14 kg for the price 8.2-8.5 usd FOB Guayaquil, Ecuador.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Any idea what plantains went for

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Because the production of plantains is not so big, so it's not so big volume sold in SPOT market. Mostly producers sell plantains by contract.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

WEEK 33 (Agust 12th - Agust 18th)

The price in the banana SPOT market went more down this week due to less volume of vessels loaded in Ecuador.

You could buy this week a carton box of bananas of 18.14 kg for the price 7.8-8.0 usd FOB Guayaquil, Ecuador.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

After they've ridden a boat to Los Angeles they are $16/box. Miami didn't report any bananas from Ecuador but prices ranged from $12 hard green to $17 already gassed.

What has always amazed me is that bananas generally cost the same amount everywhere in the United States, even though you would expect them to be much less expensive at southern ports like Miami, Houston, and LA.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Very interesting information. Comparing to market in Europe that is now around 10-11 usd the market in USA is in a good situation now.

Does anyone wants to export bananas to USA? :)

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

I am reporting terminal market prices. At the terminal in Europe, prices are in the low 20s. So that would be the price after tarriffs, fees, transport. In other words the CIF to the buyer in the terminal.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

The cost of the fruit is very high now in Europe. The price should be 13usd CIF, but there is no demend in Europe, so importers have to decrease the price to sell the fruit

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

It would be nice if CIF included those charges, but it only includes Cost, Insurance, and Freight, any charges after it's been unloaded are the responsibility of the buyer. Those fees add up fast, just the cost to have the doors opened for a visual inspection is $800-$900 in PR, and an intensive inspection is crazy high.

Custom Entry Fee
FDA Fee
Chasis Charge
Chasis Sevice Charge
ISF Fee
Duty Deposit Fee
Add Class Fee
Security Charge

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

I figured cost had all those fees included. Domestically, it's a matter of shipping a truck or railroad car somewhere.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Cost could and usually does include all charges to the Shipping Port, but neither the seller nor the buyer know the charges after it arrives in the Port of Entry. Many fees are daily charges and the release date is unknown until it's released. When adding $100, $50, and $35 daily fees, to list a few, they can add up quickly. Some daily fees have a short grace period, but never enough.
Some fees didn't exist when the Ship left, but did before it arrived.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Sounds like a lot of hassle, which is probably why there are a lot of customs brokers in the produce industry. You can't really have a container of produce sit at the port for very long.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Having a great broker is very important, any error will cause delays and send up red flags everywhere.


It would be nice, but the truth is the container can sit there for a very long time and then you'll get to see the fee for hazardous waste removal.

This is not a joke.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

According to our experience in export operations we can predict all costs in the port of origin. So, I'm sure that companies that receive cargo in port of destination can calculate very precise the cost of the additional charges during the delivery process and to avoid some fees if they have a good customs broker :)

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

I've been doing this for over 20 years and it's never once been predictable.
We have Homeland Security, FDA, Dept of Agri and if that's not enough there's the Tax Dept. Any one or all four can do inspections and some are just random inspections, and they can do it at any time during the process. A driver can get in line in the morning and might not get to the front before they close, if that happens on a friday then there's 3 more days of fees until monday.

Being able to predict the things that are completely random takes a very special talent. :ha::ha::ha:.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

You just have to consider these costs in your expenses when you plan the operation. We have also inspections in the port of loading and its not predictable but we are always prepared for this. We have a special person that works only in the port and helps to make the process faster. Otherwise the container will not be loaded to the vessel and we will have additional expenses for conection, changing of papers and some fines :)

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Being prepare is just good business, but paying a few extra thousand dollars in advance for fees that may never be incurred is not. I had a $5000 fine with Homeland Security on a rule that was not even in place when the vessel sailed.

Your Government may be perfect, ours is not even close.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

And which is the reason that Homeland Security put you a fine?
You can fight about this in the court? Or its also not the case in your country?

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

It was an ISF penalty, and court costs are also far from predictable.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

So, there is no right in your country?

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

WEEK 34 (Agust 19th - Agust 25th) and WEEK 35 (Agust 26th - September 1st)

The price in the banana SPOT market went up a bit from week 34 due to more demand in Ecuador. International markets are getting better. Own fruit are finishing, so people prepare for the season in their countries

You could buy last weeks a carton box of bananas of 18.14 kg for the price 8.0-8.5 usd FOB Guayaquil, Ecuador.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

How much does it cost to get a ship through the panama canal?

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

So far as I know, the cost of trasnist of Panama Channel depends on many factors: length of the ship, capacity etc.

If you are interesting I can give a contact of a shipping agent if you are going to make a business :)

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

This is just a matter of curiosity. It would seem that Ecuador would not be able to compete with growers on the Caribbean Sea due to transport, but I see plenty of bananas from Ecuador on the East Coast. It's further to ship and you have to pay the toll through Panama. How do you compete with Honduras?

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

The nature conditions give opportunity to Ecuador to have much better quality, like a result you can see a lot of Ecuadorian fruit everywhere

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

WEEK 36 (September 2nd - September 9th)

The price in the banana SPOT market went down due to big offer of the fruit from other Latin countries like Colombia, Costa Rica, Mexico and Guatemala. International markets are full of fruit.

You could buy last week a carton box of bananas of 18.14 kg for the price 7.0-7.5 usd FOB Guayaquil, Ecuador.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

WEEK 37-38 (September 9th - September 16th)

All the market went down now. The situtation is becoming complicated in international market.

You could buy week 37-38 a carton box of bananas of 18.14 kg for the price 5.5-6.0 usd FOB Guayaquil, Ecuador.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Deluxe_bananas
What website can I check price information of bananas market?

Thank!

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

This is one of the websites you can check about news and banana market overview in Ecuador:

Banastat | Find new opportunities in Business with our assistance

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

vessel must pay a toll fee to use the canal, which is calculated based on the size of the ship, type of ship and the number of passengers or the amount of cargo onboard. The typical rates paid are as follows:

Yachts and Other Small Vessels: USD 1,300 to USD 2,500
Loaded Containerships: USD 50,000 to USD 250,000
Cruise Ships: USD 80,000 to USD 300,000

The most expensive toll fee ever paid was by the Disney Cruise Ship on 16 May 2008; of USD 331,200 for one West to East passage.

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Thank you!
Is there any other scources? Because there is not much info about prices and no gerular updates

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

In the website banastat.com you see just a sample of information this agency gives.

You can order a service with the weekly update of market overview for banana in Ecuador. I think it is very useful source when you are a banana trader

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Thank you!

Please continue posting sales price of bananas on Ecuador expor market.:bananas_b:bananas_b

Re: ECUADOR: PRICES And Review Of The BANANA MARKET
 

Is there any updates?