Ecuador Banana Exports Plummet

Tuesday, January 09, 2001
Ecuador's banana exports dropped 10.6 percent in 2000 compared with 1999, due to an oversupply of the fruit in international markets, the Corporation for the Promotion of Exports and Imports (CORPEI) said in a report. Ecuador exported 180.7 million boxes of bananas in 2000 compared with 202.1 million boxes exported in 1999, according to figures provided by CORPEI. The nation took in $707.9 million from banana sales in 2000, compared with $923.1 million a year earlier. The oversupply of the fruit in international markets led the Ecuadorean government to slash banana prices in April to $2.18 per box from $2.45. The nation's Agricultural and Foreign Trade Ministers set the 2001 price at $2.90 per box on December 29. Ecuador, the world's biggest banana producer, ships the fruit mainly to the U.S., Russia, Italy and Germany. After oil, bananas are the Andean nation's biggest export. In 1999, Ecuador's banana exports surged 23.4 percent after storms caused by the climactic phenomenon known as El Nino ravaged the nation's coast in 1998, destroying key crops like bananas. The CORPEI said Ecuador's banana exporters are seeking to expand into other areas, such as dried banana and plantain chips, known in Ecuador as "chifles." Likewise, the nation plans to take advantage of the European Union's new banana import policy that awards contracts to countries based on which boats get to port first. European nations previously bought bananas on a quota system until the World Trade Organization ruled that this scheme was unfair to nations like Ecuador.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Asia Dry Bulk-Capesize Steady as Owners Spurn Low Rates

Owners anchoring ships rather than fix at low rates. W. Australia-China capesize rates hit over two-month low. Freight rates for large capesize dry cargo ships

Scorpio Bulkers books Net Loss

USA-Monaco based bulk carrier Scorpio Bulkers has reported a loss of $24.7 million in its second quarter of 2016, pushing the carrier's deficit up to $ 83 million.

CNCo Orders Remote Monitoring for 35 Vessels

Radio Holland, a global NavCom and service company in the maritime industry, said it has concluded  a maintenance and remote monitoring agreement with The China

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0648 sec (15 req/sec)