Major banana convention, Banana Time, opens with Ecuador's call for unity in face of global challenges

GUAYAQUIL, Ecuador, Oct. 24, 2024 /PRNewswire/ -- The 21st edition of "Banana Time," the largest international convention for the banana industry, opened with Ecuador's call for unity to tackle global challenges.

The "Banana Time" convention, organized annually in Guayaquil by the Association of Ecuadorian Banana Exporters (AEBE), which represents more than 70% of Ecuador's total banana export volume, runs from Oct. 23 to 25, featuring conferences, trade exhibits, and a culinary competition.

During the opening ceremony on Tuesday night, AEBE President Jorge Encalada expressed his belief that "the key to overcoming these challenges lies in unity and the joint efforts of all actors in the production chain."

Ecuador's banana sector is going through a difficult period, impacted by the country's energy and security crisis, geopolitical instability, and plant diseases affecting banana crops.

Further complicating the situation are the new sustainability regulations from the European Union (EU), the main market for Ecuadorian bananas, which require producers and exporters to invest in compliance with these standards.

"We will not allow our producers to be treated unfairly. Supermarkets, key players in the supply chain, must commit to not using bananas as a loss leader," Encalada added.

Compensation demands for producers

Encalada stressed the need for the new market demands imposed on producing countries to be offset by the true cost of sustainability.

He also highlighted the unity achieved in Latin America through the Joint Latin American Task Force, established in 2020, which includes exporter associations from Ecuador, Guatemala, the Dominican Republic, Costa Rica, Peru, Panama, and Colombia. This alliance works to address the challenges posed by buyer countries.

Ecuador's flagship product

Ecuador's Minister of Agriculture and Livestock, Danilo Palacios, also attended the inauguration, reaffirming the government's commitment to achieving full formalization of the sector, as "bananas are the country's flagship product."

The banana industry is one of the main drivers of Ecuador's economy, contributing more than $3.5 billion annually to the gross domestic product (GDP) and generating 250,000 direct jobs.