International demand for organic bananas has continued to strengthen, and Peru is certainly not getting the short end of the stick.
In the first 10 months of 2016, Peru’s banana exports racked up a record US$ 128.8 million, representing a 7% increase from 2015 figures.
Peru’s banana exports are spread over 24 international markets, including China, Germany, Mexico, Russia and South Korea, however it was the Netherlands that peeled away in first place for receiving the most exports. The Dutch country accounted for US$43.3 (33.6%) of the sales.
The US saw the largest increase of Peruvian banana importation as compared to 2015, with an 11.3% jump that took sales to US$38.9 million.
Peru’s surge in new plantings in the north (Lambayeque, Piura, and Tumbes) have helped insure production met demand these last few years.
As we enter a new year however, competition for the Andean nation grows stronger. Peru’s neighboring country, Ecuador, signed a Free Trade Agreement with the European Union, due to take effect this January 2017.
Ecuador already has a hold on the bloc, having garnered US$ 1.165 billion from banana exports to the EU in 2015, as compared to Peru’s US$ 115 million that same year.
Banana production mainly takes places between November and March, the warmer months of the year.