At $ 6.30 banana box for 2019

Ecuadornews:

Through the Ministerial Agreement 135 of last Friday, the Ministry of Agriculture and Livestock (MAG) set for 2019 at $ 6.30 the minimum support price of the banana box from 41.5 to 43 pounds, which corresponds to the 22XU box, equivalent to 0.1518 per pound, for export.

In 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 and musacea boxes (orito and purple), as well as export values in port (FOB).

Eduardo Ledesma, executive director of the Association of Banana Exporters of Ecuador (AEBE), does not agree with the price set by the authority and states that “it remains in its decision to maintain the current price ($ 6.20)”.

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, once said price and other conditions established by the Ministry of Agriculture, nothing remains to be done,” said Ledesma.

The other conditions cited by the union leader are a series of actions to promote productivity and development of the sector, according to the agreement. Among these is the promotion of specialized credit for the strengthening of production. (I)

Source: https://www.eluniverso.com/noticias/2018/10/29/nota/7019477/630-caja-banano-2019