The Dominican Association of Banana Producers (Adobanano) announced that it will sell banana overproduction between June and September in the more than 70 markets of the National Institute of Price Stabilization (INESPRE) through a collaboration agreement that guarantees adequate prices for producers and final consumers.
Hilario Pellegrini, president of the entity, said that production peaked every summer because of climate issues and because consumption in Europe, the main export destination, decreases due to the schools' summer holidays.
It should be noted that 96% of banana exports go to the European Union. Of that amount, 70-80% is organic and 70% is sold as Fair Trade; in fact, the Dominican Republic is the world's leading producer and exporter of Fair Trade bananas.
The directors of Adobanano said this is the second time that they were carrying out this agreement, which last year represented sales of RD$10 million. They estimate that this year they can sell three times as much.
At today's Economic Meeting, the directors of Adobanano stressed that bananas should be seen as a priority sector, as they are the second-most consumed fruit in the world, behind oranges.
They emphasized that more than 60% of the producers own small productive units, with less than 1 acre, and that the sector moves more than RD$500 million per month in the productive areas since the cost of an acre of bananas stands at RD$2,500 per week and they have sown almost 200,000 acres. They also said banana cultivation has contributed to reducing poverty in four provinces where the production is concentrated, Valverde, Monte Cristi, Azua, and Santiago. In addition, they are the only agricultural product that works 52 weeks a year.