Costa Rican Banana Producers Express Concerns Over Potential Price Decrease in Annual Contracts for 2024

Costa Rican banana producers are currently in the final stages of negotiating annual contracts for 2024. European supermarkets indicated a potential decrease of USD 1.42 in the price of a banana box (18.14 kg). This downward price pressure is causing significant worry among producers, as such a reduction could have severe economic implications, affecting the overall feasibility of banana production. The magnitude of this decrease, if realized, may lead producers to incur losses in their operations. In response to this threat, the producers are actively urging the Costa Rican government and The National Banana Corporation (CORBANA) to resist this pricing pressure commercially and diplomatically.