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US banana prices increased by 7.3% y-o-y to USD 1,113/MT in June 2021 due to firm COVID-19
induced demand. US banana prices have been further influenced by higher prices in key import
markets (Ecuador and Costa Rica). Also, global banana production has been impacted by adverse
weather conditions and resulted in a tighter global supply situation.
EU banana prices fell by 8.3% y-o-y to EUR 781/MT in June 2021, in line with lower EU production.
EU banana production is expected to fall by 4% y-o-y, to 0.6 million tonnes, for the 2020/21 season.
Spain, Europe's top producer, is estimated to produces its lowest volume (0.38 million tonnes) in five
years.
The Mintec price of US grapes increased by 32.3% y-o-y to USD 3.74/kg in June 2021 due to an
increase in retail demand and tighter supplies. US production for the 2020/21 MY is projected down
34,000 tonnes to 871,000 tonnes on the back of reduced acreage and unfavorable growing
conditions.
Chilean grape prices rose by 12.9% y-o-y to CPL 564.29/kg in May 2021 (latest available data
point) due to lower supply estimates for the 2021 season. Chilean production is expected to fall by
more than 20% to 620,000 tonnes, in line with a reduction in planted area and unseasonal rains in
January, severely damaging vineyards in the O'Higgins, Valparaiso, and Metropolitana regions.