Ecuadorian growers push for higher banana price

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Ecuadorian growers push for higher banana price

Ecuadorian banana growers are pushing for the export priceper box to be raised from US$5.50 to US$6 to cover higher production costs, website reported.

The news will anger exporters who have estimated the real cost of a 43lbs (19.5kg) box is US$4.03, although subsistence farmers claim a more realistic price is US$4.60.

Producers will meet with government officials this week on Nov. 11, to finalize the default price for 2012.

They are concerned about Agricultural Minister Staynley Vera's comments in the media that growers can make up to US$12 a box in high season off-setting losses when prices drop to US$4 or US$3 a box.

Chamber of Banana Producers head El Oro head Raúl Lara, warned intrigue was at play over the price issue.

Growers have prepared a report defending the proposed hike which they will submit to Ministry of Agriculture, Livestock, Aquaculture and Fisheries (MAGAP).

A glut has depressed banana prices globally which in August prompted the government to buy up to one million bunches a week, at US$2 per bunch, to help the industry.

Bananas are estimated to be the second largest income generator after oil for Ecuador.

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Ecuadorian president signs banana regulation decree

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