The Banana Official Price Came into Effect

Yesterday the official price of bananas came into effect and will run until December 31 of this year.

Banana crates can be sold at $5,69, even though the original price settled by the Ministry of Agriculture, Livestock and Fisheries (MAGAP) is $5,50. This is because the 50% of banana exporters shipped 43 pounds crates to Europe and the United States, the original price only covers crates of 41.5 pounds, for this reason a lost would be possible if the original price is maintained, if exporters want to continue buying crates of 43 pounds a paying of an extra fee of $0,19 per pound and a half is required.

The director of MAGAP Banana Unit, Richard Salazar, said the paying of the official price difference should be made through the Interbank Payment System (SPI). To ensure compliance of this topic it will be taken different measures to prevent harm from certain exporters who do not want to pay the difference for extra pounds to the producers. He also announced that a meeting with Customs will be held in order to monitor the port.

It was also announced that all banana companies must be regularized and they must have signed contracts until January 30 in order to sell the fruit.