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Ecuador banana growers reducing production due to low pricesLow prices are forcing banana growers in Ecuador to reduce production with prices as low as $2 and $2.50 per box, paid to independent farmers. The value defined by the Government is $6.26.
“The scenario is complicated,” says Richard Salazar, CEO of Acorbanec. The excessive harvest of Colombia, Costa Rica, Honduras and Guatemala has caused an oversupply not only in the United States and Europe but also in Ecuador’s most important market: Russia.
There is no unified criterion on the duration of this crisis, but it could last between 10 and 15 weeks since in the summer the productivity is lower.
Publication date: 7/14/2017
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