Bananas from Ecuador will no longer be exported without pre-signed contracts as part a new regulation announced by the Ministry of Agriculture (Magap) in order to guarantee a fixed price per box.
According to a report by El Universo, suppliers of Ecuadorean bananas will now need to meet three requirements: the payment of US$5.50 per (41lb) box; the settlement of that payment via the Central Bank; and a valid document for one year.
Banana producers and exporters had until Friday 4 March to register their contracts with Magap, whose representatives will carry out inspections to control the process, the report said.
This week, some 600,000 boxes of bananas will not be exported overseas because they do not have contracts, which equates to 20 per cent of the 140 registered exporters, according to the Ecuadorean Banana Association (AEBE).
The new obligatory measure, announced by sub-secretary of agriculture Rafael Guerrero, forms part of Ecuador’s Banana Law reforms, which was signed into law on 29 December 2010.
