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 Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Avance VLGCs Fixed

Avance Gas said repairs of two very large gas carriers (VLGCs) are complete, allowing the delayed ships to get to work.   Both new build VLGCs recently dry-docked - Breeze (83,

Bahri Inks Contracts with Hyundai to Build 5 VLCCs

The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs),

Asia Dry Bulk-Capesize Rates Mixed on Uncertainty

Capesize rates slide after hitting 5-month high. Rates for capesize bulk carriers eased this week after hitting their highest since December, and could come

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Salvage Ship Electronics Ship Simulators 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: 0.1230 sec (8 req/sec)