Ecuador increases the minimum price of a box of bananas to 6.50 dollars

The Ministry of Agriculture stated that banana producers and exporters had reached an agreement on the minimum support price for the box of bananas for 2023. The price will increase from 6.25 dollars in 2022 to 6.50 dollars next year.

They also stated that the minimum referential FOB (free on board) price of a 43-pound (19.5-kilo) 22XU box was also set at $8.66.

Both producers and exporters ratified the need to register contracts, that the Ministry of Agriculture and Livestock continue auditing fruit exporters, and that all parties comply with the agreed price.

In recent months, the Ministry of Agriculture and Livestock has started legal procedures against several exporting companies for not respecting the minimum price or for an alleged falsity in the shipping plans, which, if they are repeat offenders, may result in the prohibition of sales.



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