Ecuador raises the reference price of sugar cane for the first time in seven years

Published Jun 27, 2022

Tridge summary

Ecuador's government has raised the reference price for sugar cane from $31.70 to $35.05 per ton, marking the first increase in seven years. This decision was made after discussions with farmers and mills and was aimed at improving the living standard of small farmers without impacting the industrial sector and the final consumer. Ecuador, which is self-sufficient in sugar production, harvested 6.4 million tons of sugarcane in 2021-2022, generating over 30,000 direct jobs and 80,000 indirect jobs.

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Original content

Quito, June 27 (EFE).- The Government of Ecuador announced this Monday that the reference price of a ton of sugar cane produced in the country will go from 31.70 to 35.05 dollars, which represents the first increase in seven years for this product. This was reported by the Ministry of Agriculture and Livestock in a statement in which it specified that this increase was approved by the Ecuadorian Government after conversations and consultations with sugar cane farmers and sugar mills, on whom the price increase will fall. of the product. To set the price, the criteria set forth by the producers and industrialists in the advisory council held on May 27 were taken into account, where the current inflation rate and production costs were analyzed, such as the value of urea and agricultural inputs. , and the existing demand in the market. The Minister of Agriculture and Livestock of Ecuador, Bernardo Manzano, stated that this decision was made with the well-being of small farmers in ...

Source: Elperiodicodemexico