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Ecuadorian govt and banana growers agree to create contingency fund and stop new plantings

Minister of Agriculture Pedro Álava and seven representatives of Ecuador’s banana sector signed an act on Wednesday, listing eight reforms they commit to execute for the well-being of the industry. Banana growers from El Oro met this Thursday in Guabo to reject the signing of this agreement. Although the agreement includes some requests from the National Federation of Banana Growers of Ecuador (Fenabe), this union has stated it will not support it.

According to this act, to which EXPRESO had access, the Ministry agrees to “make a contingency fund viable, which will be administered through a trust and financed by the banana producing sector, determining a contribution of $0.5 for each box exported.” The idea is that with these resources it is possible to buy the fruit that, in recent weeks, has stopped being sold, as a result of the war between Russia and Ukraine, two countries that absorbed 25% of the fruit.

Another of the agreements involves negotiating with the Presidency of the Republic “the elimination of Executive Decree 183, signed on September 2, 2021, which extends the registration and planting of new banana extensions," at a time when the oversupply of crops and fruit is affecting market prices.

Source: ecuadortimes.net


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