The World's largest banana exporter Ecuador faced a volcanic eruption in September, followed by a storm in November this year, which impacted the fruit production heavily, resulting in export shortages and price rise.
Fifty-five thousand hectares of banana crops were affected in Guayas & Los Rios due to the eruption. The Eta storm was one of the biggest causes of damage to banana industries in Latin America.
To control the havoc and for further protection of the crop, the Ministry of Agriculture & Livestock (MAG) established mandatory guidelines to be followed.
The prices increased by almost 16% in a few weeks and are expected to remain inflated for the coming 4 to 6 months.