Ecuadorian banana producers and exporters have failed to reach an agreement on how much the minimum price of a box of bananas should be, website Eluniverso.com reported.

Producers would like a default price that would give them a 22% profit margin while exporters claim 11% is sufficient.

The current price is US$5.50 a box which growers would like continued in 2012, while exporters want the price to drop to US$5.05 because of international price slumps in Europe and Russia.

Producers have called on the government to impose a two-week ban on exports to help raise the price of bananas.

However, Agricultural Minister Staynley Vera rejected their call.

Producers claim exporters aren't complying with the country's banana regulations which prohibit exports of produce that hasn't been contracted.

Vera said his government would sanction exporters who are flouting the rules. So far this year Ecuador has exported 26 million boxes, which is double that of last year.

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Ecuador at loggerheads over minimum banana price

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