The Government sets an official price for corn production

Ecuadornews:

The Ministry of Agriculture determined to fix a support price of $ 15.25 per quintal of maize on the afternoon of this Monday, April 22, 2019. It was done in Quevedo (Los Ríos), during a meeting of the Consultative Council of the Agri-Food Chain of Balanced Yellow Corn and Protein Producers, integrated by farmers and industrialists.

The measure invalidates the validity of a price band, which was between $ 13.50 and $ 17.20, and which was set by the former Minister of Agriculture, Rubén Flores, in order to establish a cost reference within the market, according to the supply and demand of the grain.

Currently, the reference price per quintal is $ 13.75. Although the new support price subtracts the farmers $ 0.50 of income, they say they are satisfied with the resolution. A support value, they say, will help the authorities control and enforce that payment.

Another reaction has the industrialists (between poultry and balanced producers). For guilds like the National Corporation of Aviculturists of Ecuador (Conave), the cost of $ 15.25 quintal will make their costs rise. They fear for lower profitability. (I)

Source: https://www.expreso.ec/economia/precio-oficial-maiz-agricultura-LL2782269