MAGAP Will Take Over the Country’s Banana Surplus

MAGAP Will Take Over the Country's Banana Surplus

Starting tomorrow, the Ministry of Agriculture, Livestock and Fisheries (MAGAP), will begin with the purchase of the Ecuadorian banana surplus that has not been exported due to the crisis in international markets.

The State will shop every week an estimated of a million bunches of bananas for $ 2 each. For this purpose, about $ 1.5 million of MAGAP budget will be used.

Once babana producers deliever the fruit a reference guide and an invoice will be given to them. With these documents they must go to Banco Nacional de Fomento (BNF) so that they can recover the value of each cluster sold.

This procedure is done with those producers with up to 25 hectares, according to the MAGAP. All the fruit of those who have contracted the fruit will be purchased, and for those with contracts a 25% of their product will be purchased. The rest will be sold to the respective official export price, which is $ 5.50. (BG)

Source: El Universo Newspaper