For this Monday, November 6, the Ministry of Agriculture and Livestock (MAG) should announce the minimum support price (MSP) of a box of bananas for the year 2024, after producers and exporters did not reach an agreement on three technical tables.

At the meetings, among which there was an extraordinary one, the parties failed to reach a consensus on determining the price of the fruit, which is ranked as the second best product of Ecuador’s export supply that is not related to oil and mining, and the determination of the Ministry’s prices keeps the sector in suspense.

Controversies surrounding the price of bananas are understandable due to the situation in which producers and exporters find themselves, former ministers and experts justify

The Ministry of Agriculture and Livestock has called a press conference for Monday, November 6, at 5 p.m., where the PMS is expected to be announced. Unofficially, it was learned that the State Portfolio will try to get producers and exporters to reach a consensus before the official announcement of the fruit price.

The producers asked for the value to be raised to $8.01, although they later agreed to lower it to $7.50. On the part of the exporters, they suggested that the current price be kept at $6.50, although it should be increased to $6.85 later. In view of these disagreements, the determination of the price was transferred to MAG.

According to a report by the Regional Corporation of Ecuadorian Banana Growers (Agroban), by October the price place box of bananas was $6.96, although in some months the value was above $11 as in week 40, however in week 18 the lowest price was $3.30. Last week, 43rd, price place the average is set at $7.08.

Banana exports continued to grow from January to September this year, to 273.03 million boxes, 6.41% more than what was exported in the same period in 2022, according to the latest report of the Association of Traders and Exporters of Bananas of Ecuador (Acorbanec). .