The Regional Ecuadorian Banana Growers' Corporation (AGROBAN) has shared information detailing the probable and significant reductions in the country's banana export tariffs to the European Union.

AGROBAN executive director Manuel Romero told www.freshfruitportal.com while the new tariff agreement had not yet been signed, he had no doubt it would go through.

Photo: Kafai, via Flickr Creative Commons

"We've had a meeting with the [Ecuadorian] Agriculture Minister, and we effectively have the official confirmation of the agreement with the EU," Romero said.

Romero added the next stage was for the agreement to be signed by the European Commission and the Ecuadorian government.

The new structure would see Ecuador's banana exporters only paying €1 (US$1.35) per metric ton (MT) extra compared to other big Lain American banana countries like Colombia and Costa Rica from 2016-2019.

Under the current tariff, Ecuador would be required to pay up to €32 (US$43.09) extra over the same period.

Romero said that although the tariff reduction structure showed a decrease to €122 (US$164.30) for 2015, exporters would likely have to continue paying the current tariff of €132 (US$177.77) for that season as he said the agreement would not be signed until the latter part of 2015.

However, he said 'with absolute certainty' that the indicated tariffs for 2016 onwards would be those paid by traders shipping bananas to the EU.

From 2020 onwards, Ecuador is set to enjoy the same tariff structure as other Latin American countries.

Source: Ecuadorian Ministry of Agriculture and Livestock

Related story: Ecuador-EU trade agreement is "marvelous", says banana industry leader

www.freshfruitportal.com