Ecuador's banana sector is slow to sign new contracts

As the year approaches its end, the Ecuadorian banana industry is at a crossroads. The approaching December 31 deadline for growers and exporters to sign contracts for 2024 exports is fast approaching. However, the rate of adherence to this process remains slow. In November, the industry reached a consensus to set the price for a carton of bananas at $6.85 for 2024. However, signing contracts has been slow, according to Jose Anronio Hidalgo, executive director of the Association of Banana Exporters of Ecuador (AEBE). Growers often wait until the last minute to sign contracts, hoping for better terms or favorable market conditions. The signing of international contracts is proceeding at a snail's pace, with notable resistance from European customers due to the newly agreed price. Franklin Torres, president of the National Federation of Banana Growers (Fenabe), confirms this reluctance among growers. He blames this hesitation on previous ...