NOVA MEDIA PUBLISHING INC.

Ecuador: Price of Banana Box For 2019 Set At $6.30

31.10.2018

The Ministry of Agriculture and Livestock (MAG), through the Ministerial Agreement 135 of October 26, set the precio referencial or minimum price to be paid to growers for a box of bananas -only the fruit- of a 41.5 to 43-pound box of bananas at $6.30 for 2019.

This year the box stood at $ 6.20. The agreement, signed by Minister Xavier Lazo, also establishes the minimum support prices for the other types of banana, as well as export values in port (FOB).

According to the leader, the changes and alterations that have been made in the Agreement distort the reality of the markets by establishing a mandatory FOB that prevents negotiation between the parties. "However, we have to abide with the price and other conditions established by the Ministry of Agriculture," he added.

The other conditions cited by the union leader are a series of actions to promote the sector's productivity and development, according to the agreement. These actions include the promotion of specialized credit for the strengthening of products.

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