The government of Costa Rica decreed (Decreto Ejecutivo N°42.112-MEIC-MAG-COMEX) that starting January 1, 2020, banana exporters will pay local producers a minimum price of US$8.36 per 18.14 kg box.

The authorized increase will be US$0.67 per box of 18.14 kilos, up from US$7.69 for each package sold abroad, reported the Ministry of Economy, Industry and Commerce (MEIC).

From the MEIC statement:

December 18th, 2019. The Government of the Republic decreed an increase in the minimum price of the box of bananas for export that will be in force from January 1st, 2020. The increase will be of USD$0.67 per box of 18.14 kilos, leaving the price at USD$8.36 per box exported.

Executive Decree No. 42,112-MEIC-MAG-COMEX was signed by President Carlos Alvarado and the Ministers of Agriculture and Livestock, Renato Alvarado; Economy, Industry and Trade, Victoria Hernandez; and Foreign Trade, Dyalá Jiménez.

Victoria Hernández Mora, Minister of Economy, Industry and Trade said that “the measure taken by the Executive Branch is adjusted to technical parameters that meet the needs and peculiarities of the sector in terms of costs and production and therefore maintain the country’s competitiveness in the top quality fruit exported by the country.”