The price that will be in effect from 2025 is US$ 7.25 per box, US$ 0.40 more than the current price of US$ 6.85.
The signing of contracts for bananas that Ecuador will export from January 1, 2025 to its different destination markets is slow, according to reports from the export sector, despite the fact that there is still a little more than a month left until the date.
Richard Salazar, executive director of the Association for the Marketing and Exportation of Bananas of Ecuador (Acorbanec), said that this is because international markets, especially the European one, are refusing to pay the new minimum support price that was set for a box of fruit for next year, which is US$ 7.25, US$ 0.40 more than the current price of US$ 6.85, which the sector proposed to maintain for next year, projecting this reaction from international buyers.
“It is going slowly. There are many of our exporters who have not yet been able to close contracts abroad because they have not yet accepted the highest price. We are still in negotiations. I would say that the vast majority have not yet closed. There are already some who are beginning to sign, but very little,” lamented Salazar.
In any case, Salazar believes that the signing of contracts will begin to speed up a little more from the second week of December. Regarding the progress made so far, he said that it concerns the United States and some Europe.
However, another concern for the sector is that the minimum support price that will govern in 2025 is close to the average spot price (price without contracts and the market value at the time of purchase) of 2024, which until week 47 was US$ 7.85.
“That is why the contract markets are the ones that do not want to pay that price. (For) those who buy on the spot there is no problem. The problem is for those who do buy under contract, such as the United States, the United Kingdom, etc.”, said Salazar.
This, according to the leader, could cause these markets to look for cheaper bananas from other suppliers, although he recalled that the same situation occurred in 2024 with the price of US$ 6.85, but the drop in production due to climatic issues from competitors such as Colombia and Central American countries caused these markets to demand more bananas from Ecuador, which ended up benefiting exports.
Asked whether this could happen again in 2025, the Acorbanec spokesperson said that the situation with Ecuador's competing countries remains the same.
