Exporters in Ecuador paying up to $13 per box of bananas
El Carmen is one of the main banana producing areas for the industry and export in Ecuador. 80% of t…El Carmen is one of the main banana producing areas for the industry and export in Ecuador. 80% of that crop goes to the United States and Europe with the rest going to the local market.
In these summer months, production has been small because of lack of irrigation. This low production has some benefits for growers however, as it has generated a significant increase in price.
The value established for the exportation of the box of bananas is $ 7.30, but it currently reaches $ 13. Wilmer Valencia has 12 hectares of bananas in Pedernales. The farmer is satisfied with the price, but he has the aspiration that with the increase of irrigation he can produce more.
Luis Loor, president of the National Federation of Plantain Producers of Ecuador (Fenaprope), says that this situation is usual during these months.
“We would like to produce more now when the best prices are paid.” The leader mentions that as of August, prices begin to rise until November. Despite the small production, Torres says that is a good time for the sector. “I would say that is one of the best market prices in 40 years, a box of bananas ready for consumption is more expensive than an export box.”