The Ministry of Agriculture, Livestock, and Fisheries (MAGP) announced that banana producers and exporters in Ecuador agreed to set the minimum support price (MSP) for a 50-pound box at $7.75 for 2026. This amount represents a $0.25 increase from the 2025 MSP, which will stay in effect until December 31. The new rate will start on January 1, 2026, as confirmed by Eduardo Manrique, executive director of the Banana Exporters Association (Asoexpla).
The MAGP called the agreement "historic," noting that it resulted from discussions among producers, exporters, and sector authorities. During the session, led by Minister Juan Carlos Vega, market trends, technical standards, and proposals from all parties involved in the production chain were examined.
The ministry stressed that the measure aims to secure a fair price for growers while keeping the sector competitive in global markets.
Ecuador is the world's second-largest banana exporter, behind Guatemala and ahead of Colombia and Peru. The United States is its main destination, receiving more than 70 per cent of exports, according to Asoexpla data.
Source: eluniverso.com
