The Advisory Council of the Ministry of Agriculture met for four hours on Friday, October 12, 2018, but was unable to agree on the price that would be applied starting January of next year.
The meeting was installed at 10:00 in Guayaquil, but was suspended at 2 pm.
The delegates of the exporters proposed that the price be kept at USD 6.20 for a 41.5 to 43-pound box, which is the price being used this year.
Meanwhile, producers expect prices to increase by USD 7 to 7.10. Producers protested outside the building while the meeting took place.
Eduardo Ledesma, the head of the Association of Banana Exporters of Ecuador (AEBE), said that the price shouldn't change so that the Ecuadorian product can maintain international competitiveness. "Prices haven't increased, they are coming down and will only begin to increase in early January. Currently the spot price (without contract) is five dollars."
According to Ledesma, its hot in most of the purchasing countries and there is not so much demand for bananas. In October, exporters start signing contracts for next year and there is no indication that the price should be increased.
In the absence of an agreement, the Minister of Agriculture, Xavier Lazo, will set the official price.
Source:elcomercio.com
