Banana prices in Russia have created a curious paradox. Wholesale rates for this imported fruit sometimes sit above what shoppers actually pay in stores. In a concrete example, a kilogram of bananas at the Foodcity wholesale market runs to 100–110 rubles, while a box goes for 1900–2100 rubles, illustrating a gap between wholesale and retail that many observers find surprising.
Meanwhile, bananas in chain stores cost about 90–100 rubles per kilogram, even after including logistics and trade margins. This pattern has appeared not only in Moscow’s vicinity but across many Russian cities, with only the most remote regions in the Far East outside this trend.
Even in Khanty-Mansiysk, a region known for its logistical challenges, a kilo of bananas was priced at 89.89 rubles in the Lenta and Magnit chains.
In Veliky Novgorod, local media reported a striking drop last week, with bananas selling for 40 rubles and then 20 rubles in quick succession.
Shoppers reacted with humor and frustration. Some joked about climbing a palm tree for joy, while others lamented that such prices never reach distant places like Sakhalin or Khabarovsk.
Explanations circulated about why Veliky Novgorod saw a price plunge. One version suggested that a much larger shipment than intended – forty tons instead of four – had arrived, leaving much fruit unsold and deteriorating. Retailers then scrambled to recover some income by moving what remained on shelves.
Over the past months, banana prices have climbed sharply. In winter, Moscow-region prices ranged from 49 to 60–70 rubles per kilogram, depending on ripeness. A government briefing dated April 8 noted that, compared with the reference week of February 12–18, price levels rose by about 26.5 percent, driven by increased demand and sanctions from certain foreign states [Gazeta ru report, Ministry of Industry and Trade cited].
The ministry also pointed to a downward trend in banana prices in April relative to March. It stressed that bananas are not subject to price regulation like buckwheat or butter and thus are not classified as socially important foods. Nevertheless, officials said they continuously monitor overall food pricing, and there has been no reported interruption in supply from retail chains.
The Federal Antimonopoly Service offered a similar perspective, noting that retail fruit markets remain competitive. Bananas are not on the list of socially important staples, and retailers are allowed to set prices based on supply and demand [FAS commentary].
Bananas at old prices
Experts describe the current food market as atypical. Wholesale prices for the same bananas often exceed those seen in large retail chains. Several factors help explain this. First, many retailers maintain substantial banana stocks and importers sometimes hold onto products bought at older prices amid disrupted supply chains [FruitNews briefing, Irina Koziy, CEO].
Second, long-term fixed-price contracts between suppliers and retail chains can slow the emergence of new pricing. Trading companies may operate at a temporary loss to avoid penalties and preserve future business in the network, Koziy notes.
Third, retailers may intentionally temper price swings to avoid shocking consumers. In such cases, prices on shelves are kept steadier than wholesale costs would dictate [Koziy].
Meanwhile, wholesale prices and shelf costs reflect the fruit’s ripening schedule and the long transit times, sometimes up to six weeks. In addition, the mix of import-related costs and sanctions-induced pressures affects final pricing, Koziy adds.
they don’t want to empty
Bananas are primarily imported from Latin America, with Ecuador contributing a significant share. Depending on the season, up to 20 percent of Ecuador’s banana exports fit the Russian market. A Wall Street Journal report from late March highlighted that strikes in Ecuador could complicate shipments to Russia due to Western sanctions and logistical bottlenecks [WSJ coverage]. Bananas are also an important export for India, the Philippines, Vietnam, Indonesia, and Turkey.
The challenges begin long before a shipment reaches Russia. Black Sea and Baltic ports have limited access to South American banana ships, so fruit is typically routed via Europe to various destinations, including Russia. However, EU restrictions on transport for Russian-flagged vessels and Belarusian trucking have disrupted this chain. Shipping firms have largely pulled back from serving Russia, elevating scarcity and costs, Koziy notes.
Russian banana imports total roughly $1.1–1.6 billion annually. Logistics disruptions intensified during the pandemic and worsened after the Ukraine conflict and related sanctions. On April 11, the European Union expanded its sanctions package, closing ports to ships flying the Russian flag and penalizing ships that changed registration. Market participants described European port actions as a reason for tightening supplies in Russia [Interfax report, EU sanction update].
Experts warn that banana stocks in Russian warehouses are running low, and import opportunities could continue to shrink, potentially pushing prices higher in the months ahead [Koziy].
Next up are lemons and oranges
Koziy argues that replacing Ecuadorian bananas with fruits from other countries would not be quick or easy. Exports for bananas still come mainly from Ecuador, the Philippines, Guatemala, Colombia, Costa Rica, and other exporters, all facing similar transport challenges to Russia. The current delivery window for bananas stays at roughly one to two weeks, depending on logistics and exchange-rate conditions [FruitNews perspective].
Industry comments from the X5 Retail Group indicate that ruble fluctuations and dollar-based purchasing continue to shape pricing. The company explained that many purchases are dollar-denominated, with exchange-rate mechanics affecting local prices. Analysts emphasize that the dollar-based nature of most banana transactions means ruble strength alone cannot fully offset price pressures arising from weakened transfer routes and sanctions [X5 statement].
Experts also remind that prices for other staples may face similar dynamics. While the government does not regulate banana prices, retailers can adjust pricing in response to supply constraints and demand shifts, an observation echoed by researchers at the National Research University Higher School of Economics and other policy institutes [Moskvitin, Chernikov commentary].
FruitNews notes that lemons and oranges could become the next price-sensitive targets as seasonal supplies from Turkey and Egypt wane. Markets typically shift toward Argentina and South Africa in summer, but those sea routes are also sensitive to transport restrictions, further complicating the pricing landscape [Koziy].