Starting today the Ministry of Agriculture, Livestock and Fisheries (MAGAP) of Ecuador will begin to pay $ 2 for export quality banana clusters which were purchased from local producers. The payment will be effective for those exporters that sold their product on August 26.
The cancellation will be made by Banco Nacional de Fomento (BNF). In order to fulfill this transaction those who bought the fruit on that date must bear the reference guide and invoice delivered by MAGAP representatives while cutting the bunches.
From today, MAGAP plans inspections to prevent further spot selling and to control the official price of $ 5, 50 for those who have contracted the fruit.
In addition, oversight committees in coordination with the National Secretary of transparent management will monitor the compliance of set prices and contracts.