Ecuador raises banana price 9%

A box of Ecuadorian bananas for export will cost $ 6.55 in 2015, said the Ministry of Agriculture of Ecuador.

The new price, 9% higher than the current $ 6, was set by Ministerial Agreement and approved Thursday and will come into force from January 1 until December 31 next year.

Ecuador, the leading exporter of bananas and the fourth largest producer in the world, sold a total of 253 million boxes of bananas in 2013, 5 million more than in 2012, which totalled 248 million, according to official data.

In 2014, the Association of Banana Exporters of Ecuador (AEBE) expect to export 290 million boxes of bananas, representing a record against the major peak of exports achieved in 2011, which was 283 million boxes. The main buyers of the Ecuadorian fruit are the United States and Europe.

Ecuador last July reached an agreement with the EU, but is awaiting final approval of documents by the Ecuadorian legislature and of the Council and the European Parliament for its entry to be put into force.

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