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Spread of Diseased Bananas Threatens Global Market, Could Trigger Further Price Jump in Russia

15 April 2014
Countries around the world have been experiencing shortages of banana produce since the spread of a disease that affects the most popular variety of bananas, as reported by ITAR-TASS (or Information Telegraph Agency of Russia) news agency.
Russia's supply remains steady, but the cost of the produce is expected to continue to rise. The fungus damages the root system of the Cavendish bananas. These bananas comprise 95 percent of all exports worldwide, according to specialists of the Food and Agriculture Organization (FAO). Russia purchases about 90 percent of all bananas produced in Ecuador. The epidemic has devastated banana plantations in countries of South East Asia, the Middle East and Africa. Latin American producers in Ecuador, Costa Rica and Columbia are taking every opportunity to prevent the disease from reaching their crops, according to the FAO. According to information from Russia's Federal State Statistics Service, in March the price of bananas has increased by 20 percent. Fruit News: http://www.fruitnews.ru/home-page/fruits/38961-rasprostranenie-zabolevanij-bananov-ugrozhaet-bananovomu-rynku-mira-i-mozhet-sprovotsirovat-rost-tsen-v-rossii.html Source: http://itar-tass.com/ekonomika/1115396

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