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How has the war affected Ecuador's banana sector?

According to the Ecuadorian Export Guild Corporation (Cordex), the country has been unable to export more than 2.33 million boxes of bananas to Russia and Ukraine since the conflict started on February 24.

According to Cordex data and translated into FOB value, the country stopped perceiving 18.33 million dollars for the export of this item, that is, 42.57% less than in the same period of 2021.

"This situation seriously affects the entire fruit production and export chain," the corporation stated.

Cordex indicated that producers and exporters were working on measures to mitigate the damage to the industry and the country. To this end, representatives of the banana cluster are holding talks with the Prefectures of Guayas, Los Rios, and El Oro, the main banana-producing provinces.

They are also meeting with other institutions so that food programs are ready to receive the fruit that cannot be exported to countries in conflict. “The banana that isn't exported would serve as an ideal fertilizer for agricultural land due to its high potassium content,” the corporation stated.

Banana producers also asked consumers, supermarkets, international importers, and all the banana industry to be aware that the impact caused by the different externalities and costs should not be borne by producers and exporters alone, but must be shared by all members of the banana chain.

It's worth noting the importance of Russia for the Ecuadorian banana industry: last year the country acquired 20% of Ecuador's production.

 

Source:bloomberglinea.com 


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