Ecuador sets new banana price

At $6.85, producers and exporters of the fruit agreed to set the Minimum Support Price for a box of bananas, a price that will come into effect from January 1, 2024. This price will serve as a basis for producers and exporters of bananas sign contracts for the trade of the fruit destined for the different international markets, in which the product is sold. According to the Law to Stimulate and Control the Production and Marketing of Bananas, the Ministry of Agriculture and Livestock must convene Negotiation Tables to set the Minimum Support Price for bananas, which, “mandatoryly, the banana producer must receive (at foot of the ship), of each of the different types of boxes and their specifications, of banana, plantain (barraganete) and other musaceae for export, by any act or commercial contract permitted by this Law." Executive Director of the Association of Banana Exporters of Ecuador (AEBE), José Antonio Hidalgo Molina. We spoke with the executive director of the Association ...