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The Ministry of Agriculture of Ecuador will start reviewing the transactions

Companies that don't pay the minimum support price for bananas will lose their license to export

The Ministry of Agriculture and Livestock (MAG) has informed that it will begin reviewing the payments made through the Interbank Payment System (SPI), to confirm that exporting companies are paying the minimum support price (PMS) to banana producers.

Bananas are the country's second non-oil export product, with 2,345 million dollars from January to August of this year; a figure that was 10% lower than in the same period in 2020.

According to the MAG's statement, the companies that don't pay the minimum support price for bananas will lose their export license.

The minimum support price for the box of bananas stands at 6.25 dollars this year and it will remain in effect for 2022, as ordered by the MAG at the end of October.

 

Source: eluniverso.com 


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