MAGAP Signs Agreement for Banana Crisis

MAGAP signs agreement to improve the banana crate crisis

The Ministry of Agriculture, Livestock and Fisheries validated the report emitted by the Director of the Banana program on August 17 of 2011, which said that the banana is suffering a crisis due to the international market. The decrease of the banana crate occurs because of the lower demand and the financial troubles of the global markets.

Such economic unbalance puts at risk the banana industry, especially to small producers. The disposition of the new reform of the banana bill forces the registration in the MAGAP according to the Article 11 that was approved last Monday.

The objective of this new reform is to control the price of each crate (USD 4,00) and the contracts between producers and exporters. The agreement with the ministry seeks to support the banana sector with long-term solutions. (AV)

Source: El Comercio Newspaper