Banana prices on the rise as climate change affects supply chain

Published on The Grocer, 14th March 2024


Banana prices have risen by up to 18.5% since January and by 35% in the past year as climate change puts a squeeze on supply, new data has revealed.

A five-pack of Asda’s Organic Fairtrade Bananas was subject to the biggest annual rise of 35% from £1 to £1.35, found analysis of Assosia data by The Grocer. The same line has risen 13.5% since January 2024.

Meanwhile, the price of Waitrose Essential Fairtrade Bananas has increased by 25% in the past year, from 16p to 20p per banana.

Eleven banana lines out of 60 in the mults have risen by more than 10% in the past year.

Lines to have increased significantly since January include a pack of six Sainsbury’s Fairtrade Bananas under the So Organic brand, up by 18.5% in price.

Consumers have reported gaps in banana supply in supermarkets over the past few weeks, with some retailers forced to post notices signposting their lack of supply.

According to Mintec, the shortfalls in supply are down to the unpredictable weather patterns caused by climate change.

“Recently, storms at sea caused a delay in the arrival of bananas,” explained Harry Campbell, fruit & vegetable analyst at Mintec. “Although this is a temporary setback and retailers anticipate a return to normalcy, climate change poses a long-term threat to the production of bananas.”

Rising global temperatures and extreme weather conditions posed a risk to yield size, as well as providing ideal conditions for diseases, he added.

Published on The Grocer, 14th March 2024