Banana Chips, Market Outlook, 11.01.2023
2022 has not been the easiest of years. The suppliers have seen great changes in Freight rates: from unexpected highs back to levels of 18 months ago. And obviously, Europe has been seeing the effects of the war in Ukraine: higher energy costs, unusual inflation rates of over 10%, customer trust at low levels and increasing interest rates. All these negative elements resulted in less consumption, increasing stock positions, and as a result, less business, unfortunately.
Nevertheless, there are some positive signs right now: with energy prices, freight rates, etc., dropping again, we expect consumer trust will come back again. Also, current origin prices are favorable and should not be a hurdle for new businesses when demand picks up! We have to wait and see how fast this will happen, but we are entering 2023 in a positive way!