Strangely enough, while everything is getting more expensive, bananas are getting more inexpensive. Last month, the governments of seven Latin American countries launched a call for European and American markets to pay a fair price for bananas. 2020 was a record year for banana exports: the food and agriculture organization of the United Nations (FAO) calculated that more than 22.2 million tons of bananas were shipped globally. The demand peaked because of the coronavirus pandemic.
However, prices are not following the trend. On the contrary: according to French research centre Cirad, the price for bananas last year dropped the most in ten years.
Trade organization Comeos advocates voluntary efforts to provide fair prices for banana producers. However, competition law does not allow fixed agreements to make supermarkets pay more, they say. Colruyt Group has already reported that the purchase price of bananas has gone up this year.