Banana Price Increase Announced

The government decreed that starting January 1, 2020, banana exporters in Costa Rica will pay local producers a minimum price of $8.36 per 18.14 kilo box.

Wednesday, December 18, 2019

The authorized increase will be $0.67 per box of 18.14 kilos, from $7.69 to $8.36 for each package sold abroad, reported the Ministry of Economy, Industry and Commerce (MEIC).

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From the MEIC statement:

December 18th, 2019. The Government of the Republic decreed an increase in the minimum price of the box of bananas for export that will be in force from January 1st, 2020. The increase will be of USD$0.67 per box of 18.14 kilos, leaving the price at USD$8.36 per box exported.
Executive Decree No. 42,112-MEIC-MAG-COMEX was signed by President Carlos Alvarado and the Ministers of Agriculture and Livestock, Renato Alvarado; Economy, Industry and Trade, Victoria Hernandez; and Foreign Trade, Dyalá Jiménez.
Victoria Hernández Mora, Minister of Economy, Industry and Trade said that "the measure taken by the Executive Branch is adjusted to technical parameters that meet the needs and peculiarities of the sector in terms of costs and production and therefore maintain the country's competitiveness in the top quality fruit exported by the country."

Read full release here (in spanish).

More on this topic

Panama: Banana Production with Better Numbers

October 2017

The renovation of plantations and a favorable climate explain the improvement in yield per hectare of bananas in Bocas del Toro, which in the last year rose from 1,700 boxes of 18 kilos to 2,600 boxes.

The figures were confirmed by representatives of Cooperativa Bananera del Atlántico (Coobana RL), which grows 550 hectares of bananas in Changuinola, Bocas del Toro. Of the total production, 60% is exported to Holland, 33% to Ireland and the rest is sold nationally.  

Costa Rica: Banana Production Figures Improve

February 2017

In 2016 a record 120 million boxes of 18 kilos were exported, generating revenues of $986 million, and productivity rose from 2,339 boxes per hectare in 2015 to 2,800 last year.

2016 was a good year for the banana sector in Costa Rica, which registered a significant rise compared to results seen in previous years. Compared to 2015 not only did overall productivity improve, but sales grew in value and volume.

Market Share of Bananas from Costa Rica in Europe

October 2016

Costa Rica's share in the market for bananas imported by the European Union increased from 13.7% in 2009 to 15.2% in 2015.

The main reason behind the increase is the reduction of tariffs on bananas from Latin America, which fell from 176 euros per ton to 103 euros.  

Costa Rican Bananas Lose Ground

February 2014

More global competition and less demand from Europe partly explain the stagnation of exports in the last three years.

Official data shows that in the last three years Costa Rican banana exports have stagnated, remaining at between 106 and 107 million boxes, each weighing 18.14 kilos. Businessmen from the sector claim that greater global competition and declining demand in Europe explain the stagnation.

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