Ecuador: Sanctions for Banana Exporters, Still Do Not Pay Official Price

According to ElComercio.com the lack of regulations in Ecuador’s Banana Law is causing conflicts between banana producers and exporters. Officials say that many banana exporters do not comply with the official price of a box of bananas, $5.50 per box. However, the law prevents authorities of the Ministry of Agriculture, Livestock and Fisheries (MAGAP) from punishing the exporters or enforcing the fines leveled on exportation businesses. Officials say there is a list of 32 banana export businesses with investigation into claims that they do not pay the official price for a box of bananas, with fines totaling $9 million. An additional 23 inquiries, amounting to $4 million in fines, were added to the previous list. Officials from the banana producers say that sanctions are necessary for the specific brand of exporters but sanctioning the entire product could cause problems for the banana market.Read Article