Banana producers and exporters in Ecuador have reportedly called on the government to declare a six-week emergency situation within the industry.
The request has been lodged in order to avoid a crisis due to the failure of some companies to pay the official price of US$5.50 per box of bananas, according to a report by El Comercio.
The problem has apparently been caused by a fall in prices on the international market, resulting in buyers in Ecuador only willing to pay up to US$2 per box.
The industry is calling for the government to grant credit to those exporters who lack liquidity to pay the official price, the report said.
In addition, the Ministry of Agriculture has been asked to reduce export volume during the six-week emergency period by at least 1m boxes per week.
Currently, Ecuador exports 4.2m boxes on a weekly basis, which together with the offer from Colombia and Costa Rica is saturating the market, according to the report.
