The Minister of Agriculture, Livestock, Fisheries and Water of the Canary Islands, Narvay Quintero, held a meeting with the Minister of Foreign Trade of Costa Rica, Alexander Mora, on Wednesday in Brussels. At the meeting, they agreed to maintain regular contacts to monitor market prices and banana volumes to prevent the market from being inundated by massive exports of bananas.
The Minister of the Government of the Canary Islands and the Costa Rican Minister agreed that this monitoring was necessary to have the necessary information to avoid market distortions, following the agreement with Ecuador, as their fruit can be sold at better prices.
Narvay Quintero and the leader of the Government of Costa Rica also analyzed the safeguarding mechanism that the European Parliament approved last week for the entry of this fruit from Ecuador so that it won't irreversibly affect the production of the ORs.
This mechanism provides that in the event of a serious deterioration of the situation of European producers, the Commission will review the situation with member states and producers, and determine appropriate preventive measures.
In addition, it establishes an early warning system, improved statistical tools, and regular market evaluations, the Ministry stated.
Source: Europa Press