The new price of a box of bananas for export for 2017, which was set on Tuesday November 29, was $6.26. This is an 10 cent increase over the price established for 2016.

According to the Ministry of Agriculture, Livestock and Fisheries (Magap) one of the technical arguments that was taken into consideration to define the new value of a box of Ecuadorian musacea was the international price of fruit, which is on the rise.

The price was determined by the Magap because producers and exporters were unable to reach a consensus regarding its price in the Fruit Negotiation Table, which is traditionally held in November. Producers insisted the price should increase to $6.55 while exporters thought the price had to remain at $ 6.16 dollars. 

The Magap is expected to publish the ministerial agreement formalizing the new price on Wednesday, November 30.