date:Jul 04, 2016
The impact of El Nio has taken a toll on Latin American bananas. Colombia and Costa Rica recorded losses, causing a large part of the market to depend on Ecuador. However, this country also recorded losses. For the whole region, estimates point to a 30 percent drop in the banana production. Because of this lower supply, prices on the spot markets are high. Nevertheless, many importers are working with contracts, and as a result, such price fluctuations have less of an impact. According to a Fren