According to the export sector, the new minimum support price (MSP) of the banana box, which was set at 6.85 dollars for 2024, does not seem to convince Europe's supermarkets. Europe is the main market for the Ecuadorian banana and European customers still haven't signed any contracts because they are reluctant to accept the new price and want to negotiate with the previous price, which was 6.50 dollars, stated Richard Salazar, executive director of Acorbanec.
The export sector had already warned this might happen during the negotiations for the new price, which extended to three advisory councils -two of which ended without consensus- anticipating the high sensitivity of international markets, especially the European one, to the possible increase in prices.
Source: eluniverso.com