Banana Chips, Market Update, July 2023
- Prices: Banana chip prices have increased by 10% during June and most part of July. This week alone, the price of green (fresh) bananas increased by 7% and also for coconut oil, by 10%.
- Supply: Producers expect lower crop yields the coming months as a result of the effects of El Niño. This is likely to put upward pressure on prices.
- Demand: Demand for banana chips is expected to remain strong, as they are a popular snack food in many countries.
- Freight rates: Shipping companies are making it clear that they are going to increase their freight rates. This is likely to add to the cost of exporting banana chips.
Overall, the outlook for the banana chip market is mixed. Prices are expected to rise due to lower crop yields and higher freight rates, but demand is also expected to remain strong