The Ministry of Economy, Industry, and Commerce (MEIC) stated via a press release on December 17 that starting January 1, 2020, that the starting price of the Costa Rican banana will increase by 0.67 dollars. As a result, the price of an 18.14 kilo-box will go from 7.69 dollars to 8.36 dollars.
Each year, the Government issues a decree with a minimum cash price to try to regulate relations between producers and marketers. The established price includes $ 0.05 per box that will be delivered to the National Banana Corporation (Corbana) for programs to promote productivity and aid to the sector, such as the cost of controlling the black or yellow Sigatoka pests.
Likewise, a certain amount of crop renewal is destined to help increase productivity, as detailed in the executive decree signed on December 5 by President Carlos Alvarado.
The banana sector is one of the main exporters of goods with annual sales of 1 billion dollars and it, directly and indirectly, employs 150,000 people.
Renato Alvarado, the Minister of Agriculture and Livestock, stated that the increase will maintain the competitiveness of Costa Rican bananas in international markets.
Source: nacion.com
