The spot price of bananas is on the rise. According to the Association of Banana Exporters of Ecuador (AEBE), the international average is 7.41 dollars, although the box has reached 10 dollars; a value significantly lower than the 6.50 dollars established in the minimum support price.
The federation also said that it estimates that 60% of independent producers have not signed contracts, and they have asked authorities to be transparent about the agreements and indicate the percentage of contracts there are because they estimate that about 2.5 million boxes are being exported each week without agreements.
In the first two months of the year, the country exported 62.99 million boxes of bananas, i.e. only 0.26% less than in the same period of 2022. However, the sector's future is uncertain due to the impact of floods. AEBE still doesn't have a report on the damages caused by the floods. However, the Ministry of Agriculture has stated that, up until Friday, March 24 this year, 1.26% of crops have been affected by them. That's nearly 180 hectares of banana plantations.
Source: expreso.ec