Dominican Republic Gives Bananas a Break
- In an attempt to stabilize prices, the Dominican Republic has suspended banana exports. Joel Santos EchavarrÃa, Minister of the Presidency and president of the National Council for Food and Nutritional Sovereignty and Security (Conassan), said that the measure will be reviewed in 30 days.
- The decision, taken through Resolution 05-2023, establishes that the measure has been in effect from Monday, September 18, and will be reviewed in 30 days.
- The Dominican Republic is currently a major producer of bananas, especially organic. Its production is oriented for both the national and international markets.
- Notably, according to Ministry of Agriculture data, in 2016 the Dominican Republic became the world's leading exporter of organic bananas, which means that 63% of the total (approximately 17,000 hectares) dedicated to this crop has been certified as being free of pesticides or any other type of chemical.
- Since then, the price of bananas has plummeted by almost 35% of the Dominican Republic’s export price. The increase in freight, fertilizers and supplies such as boxes are among the increased cost factors. The aggravating circumstance is that the destination markets refuse to assume these cost increases.
- Furthermore, the gap between the price of organic and conventional bananas is getting closer every day, to the detriment of DR exporters, thereby resulting in lower earnings for banana exporters in the country.
(Source: Dominican Today)