The Ministry of Agriculture and Livestock (Magap for its Spanish acronym) set at USD 6.55 the new price for a box of bananas for export. That price shall apply from January 1, 2015 until December of that year. The value was established based on the banana box of 43 pounds, which are shipped to markets in Europe, America and Asia.
The old price remained at USD 6.22 from January 2013. In the new agreement are also defined actions to benefit this sector, among which are: to promote the Assembly’s agility in the approval process of the Multiparty Agreement with the Union European; to establish a single minimum support price for top quality boxes; and to unify the differentiated rates by freight distance of bananas domestic transport.
The agreement also hosted an order of the producing sector: that the Banana Unit gives advice to farmers to access to credit from the National Development Bank, the National Finance Corporation and the Bank of the Ecuadorian Institute of Social Security.