Banana Eclipse: the price falls in half

The most important agricultural product in the country entered among those affected by the coronavirus. The crisis in China , where 10% of its sales are directed, as well as the isolation of Italy create the perfect storm.

Banana Eclipse: the price falls in half

Yesterday the price of the box of 43 kilograms fell to 5 dollars in the spot market , in relation to the $ 10.30 in the middle of last month and $ 6.30 which is official price (minimum support).

Apparently producers who have signed a contract are safe, since they should be paid over $ 6, however, that is no guarantee, some companies apply strategies to make discounts.

Ecuador exports more than 350 million boxes per year (6.8 million tons), which generated $ 3,295 million in 2019, 24.1% of non-oil sales, just below the shrimp, according to the Central Bank of Ecuador (ECB)

Exporters have said that the crisis caused by the coronavirus will become evident in the month that runs (March), as some importers are failing to comply with the payments . This affects more the provinces of Los Ríos, Guayas and El Oro .

https://www.expreso.ec/actualidad/economia/eclipse-bananero-precionabaja-mitad-6547.html