Banana prices will rise in 2012

Banana prices will rise in 2012

Ministry of Agriculture of Ecuador announced that during 2012, the minimum price of banana crate will be $6.25 the first 22 weeks of this year (high season) and of least $ 4.90 during the next 30 weeks (low season).

Stanley Vera, head of the government portfolio, said that with these two methods of payment would allow the government to keep the value that is currently ruling ($5.50). However, the announcement created an uproar in both the farmers and exporters who noted the negative effects.

“(…) we want the producer to received an additional income earlier this year (…) this would allow them to accumulate (save) to support precisely the second part that is more complicated.”

This decision was taken after the Ecuadorian President Rafael Correa questioned the pricing system to formalize and announce the official price. Furthermore, the Ministry of Agriculture took this decision after producers and exporters couldn’t reach any agreement at two meetings of the Advisory Council.