Ecuador: Banana prices are expected to be high at the beginning of 2018
"Prices in 2018 will start much higher than in 2017, and they will remain high until March or April," stated Miriam Barona, CEO of the Fruta de Oro company. Prices are expected to stabilize in the middle of the year, as usually happens every summer in the northern hemisphere. "The competition generated by the production of seasonal fruits in banana-buying countries also influences prices." This price estimate is mainly due to a lower volume of production - that ranges from 10 to 18% - due to low temperatures and low luminosity. In addition, the climate is also taking a toll on the banana production of other traditionally competitive countries, such as Central American countries.
The baby banana is one of Ecuador's flagship products, it is mainly demanded in Russia, China, North Africa, and the Middle East. "We can offer up to 15 containers a week. However, this figure may increase as the demand for Ecuadorian bananas in international markets is increasing," Barona stated.
For more information:
Miriam Barona Franco
Fruta de Oro
Publication date: 12/12/2017
Author: Carlos P Poggio
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