The price of bananas at source in the Canary Islands surged by 139.8% in the last week of May compared to the average for the same period over the past five years, reaching €1.65 per kilo, according to the latest figures from the Ministry of Agriculture, Fisheries and Food (MAPA). This marks a 3.8% increase from the previous week alone and is now being felt by consumers through higher retail prices.
The Cause: Weather-Driven Production Problems
The president of the Association of Banana Producers of the Canary Islands (Asprocan), José Carlos Rendón, attributes the price hike to ongoing production issues triggered by severe weather, particularly the strong winds that have impacted the islands since December 2024.
According to Rendón, these weather events led to reduced yields and a shortage of Canary Island bananas on the market, creating a supply-demand imbalance that has pushed prices upward.
Market Impact and Concerns Over Consumer Loyalty
The current shortage, while temporary, raises concerns among producers about long-term impacts on consumer habits. Rendón acknowledged that persistent high prices could lead buyers to switch to imported bananas, especially from Latin America, which are often cheaper.
“This situation does not benefit us as producers,” Rendón explained. “Higher prices due to low supply reduce our total income, since we’re selling less volume overall, not more.”
He stressed that producers are not profiting from this spike, but rather struggling with the financial consequences of reduced harvests. “This is not a deliberate strategy—on the contrary, we hope the situation resolves soon,” he said, noting that improved weather conditions in recent weeks should help stabilise production by the end of summer, potentially leading to a normalisation of prices.
Highlighting the Value of Canary Island Bananas
Rendón also reminded consumers of the quality, safety, and environmental advantages of local bananas. “Canary Island bananas remain unmatched in taste, are produced under strict food safety standards, and carry a significantly lower carbon footprint compared to imported varieties,” he said.
Production, Trade, and Price Trends in 2025
- 2025 banana production stands at 417,596 tonnes, representing a 1% decrease compared to the previous season, but still 1% above the five-year average, according to MAPA.
- The price trend this year has been clearly upward, with current prices between €1.57 and €1.65/kg, while the average for the same period in 2024 was around €1.20/kg.
- Banana exports have dropped by 26.8% between January and March 2025 compared to the same period last year, and by 19.3% compared to the five-year average—due to the reduced domestic supply.
- To offset the shortfall, banana imports have risen, particularly from Costa Rica, which now accounts for 57% of imported bananas and has seen a 29% increase in volume during the first quarter of 2025.
In summary, the record rise in banana prices is primarily due to climate-related disruptions that have hit local production hard. While prices are expected to stabilise later this year, producers are urging consumers to continue supporting local produce amid the temporary price pressure.
