Costa Rica's agro-exports in crisis

Published Jun 3, 2024

Tridge summary

Over 500 layoffs in Costa Rica's banana sector are linked to the devaluation of the dollar and loss of competitiveness in markets, according to Oscar Arias Moreira, president of the National Chamber of Agriculture and Agroindustry (CNAA). The devaluation has led to higher production costs and competition from imported products. The government's suggestion for a change in the country's productive model towards high-tech services, particularly in microchip production, is also facing resistance from the agricultural sector.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

To date, more than 500 layoffs linked to the banana sector in Costa Rica have been reported. The depreciation of the dollar and the loss of competitiveness in the markets are strongly affecting the industry. To have a more global look and understand what is happening in the Central American country, Portalfruticola.com spoke exclusively with Oscar Arias Moreira, president of the National Chamber of Agriculture and Agroindustry (CNAA). This institution brings together 24 organizations from the country's agricultural sector, representing 80% of agricultural activity in Costa Rica. Moreira commented that "in the last 20 months we have been suffering from a deterioration in the exchange rate, which is seriously affecting the entire sector, not only the agro-exporter, but also the local markets. Because with a devalued dollar it is being allowed many imported products enter, which are competing with our producers.” He explained that the devaluation of the exchange rate is approximately ...

Source: MXfruit