Banana producers and exporters clash in Ecuador over the value of contracts for 2023

A little less than a month and a half ago, banana producers in Ecuador entered into an agreement with fruit exporters to set the price of a box at 43 pounds, the equivalent of US$ 6.50, for deliveries throughout 2023. The signing of contracts with the commitments agreed in September would take place throughout this last quarter of 2022, guaranteeing export conditions throughout 2023, ensuring that no less than the support price is paid. However, frictions re-emerged between the parties. One of the concerns is that banana exports from Ecuador from January to September this year total 256.59 million boxes, a volume 8.98% lower than that recorded in the same period last year. But the main point of tension is the spot fruit prices in Ecuador, which currently fluctuate between US$ 10.00 and US$ 13.00 a box, which made producers resist signing export contracts in search of to take advantage of spot prices. In an interview with the Ecuadorian newspaper El Productor, the president of the ...