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Bolivia: Banana Exports Drop 50%

10.7.2020

The export of bananas from Bolivia was reduced by 50 percent due to the low demand in the Argentine market, which is the potential buyer of the product, informed the legal adviser of the Cochabamba Agricultural Chamber (CAC), Rolando Morales.

"Banana exports have dropped by at least 50 percent because Argentina, which is the potential buyer, has fallen in demand. They have also been affected by the pandemic, and most people are in lockdown and not working. On top of that, they are receiving offers from countries like Colombia and Ecuador that are offering bananas at a lower price,” he assured.

Morales recalled that, despite this situation, the sector sells its product at cost and, to date, the possibility of making profits cannot be considered because its interest is in continuing to supply the markets.

"Production also drops in the southern hemisphere winter. This generates at least a 15 percent decrease in production due to the cold that has reached the tropics," he said.

In addition to the low demand and offers coming from other countries, we must wait for payment for the exported product.

"We deliver the product and then it takes 30 to 60 days to pay us because to buy dollars they must go through many previous steps," he said.  Morales regretted the situation of the companies that oversee packing the products for exports, as they are also being affected.  A month ago, the sector reported a loss of 70 cents for each box of the exported product, so there is already a lower price in the foreign market.

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