The year 2023 saw Brazilian banana exports witnessed the most significant drop in quantity and revenues compared to last year. The volume of exports totalled 56.2 thousand tonnes, which is the loss of 48% and earnings were US56.2 million. 56.2 millions (FOB) representing the 50% decrease.

The decrease was mostly due the lower fruit deliveries to Mercosur, even though the exports have increased into Europe. European Union. The shipments to the EU increased by a significant amount by 45% over 2022. They reached 8.5 thousands of tons. But exports towards those in the South American bloc, particularly Mercosur decreased by 40 percent to 44.7 thousands of tons. The economic downturn in Argentina which is one of the largest importers of Mercosur was a major part in the decline.

The recession in Argentina led to a decrease in buying power and in the delay of payments, which affected Brazilian exporters. For 2024, the political turmoil in Mercosur will likely to continue which will impact exports of bananas. Furthermore it is expected that the El Nino phenomenon is forecasted to increase rainfall across the South which is the main exporting region in Brazil and posing further challenges for exports.

Source: www.datamarnews.com