Establishment of price of banana creates friction with Costa Rica

The establishment of a minimum price for the export of Costa Rican banana has once again cause serious friction between trading companies and independent farmers.

Tuesday, December 2, 2008

The National Chamber of Independent Banana Farmers launched the petition last week for the price of an 18.14 kilo box to go up $8.66, up from the current $7.17, starting January 2009.

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Reactivation of Banana Production in Baru

October 2016

The draft contract with Del Monte establishes a period of 20 years, which is "extendable" and a minimum investment of $100 million over 7 years.

The Minister of the Presidency, Alvaro German, said that the contract being negotiated with the multinational Del Monte also establishes a performance bond of 5% of the total value of the investment.

Nicaragua: Banana Exports Up 14%

October 2016

Between January and September this year banana sales abroad generated $7.17 million, 14% more than in the same period in 2015.

From a report by the Association of Producers and Exporters of Nicaragua:

The value of Nicaraguan banana exports between January 1 and September 25, 2016 shows an increase of 14.4 percent compared to the same period in 2015. Statistics from the Center for Export Procedures (CETREX) show that in the period in question in 2016, the country has received 7.17 million from the sale of 17,412 tons of the product in the international market. While in the same period in 2015, the 17,453 tons sent only generated $6.27 million.

Opportunity for Bananas in China

September 2014

A drop in local production and the volatility of short-term contracts signed with the Philippines, its leading supplier, has created opportunities to export bananas to China.

From a statement issued by the Foreign Trade Promotion Office of Costa Rica (Procomer):

In the first 7 months of this year, Ecuadorian banana exports to China increased by 704.6%, going from $7.7 million in 2013 to $62.2 million in 2014.

Increased Banana Production in Nicaragua

November 2013

During the period January-July 2012-2013 production increased from 1.2392 million to 1.3074 million boxes of bananas.

However, export revenues were down 13% from $2.2 million in the first eight months of 2012 to $1.9 million in the same period of 2013. The decrease is due to the decrease in the international prices of bananas, according to the Center for Export Processing (CETREX).

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