On November 6, Ecuador raised the minimum price per box that exporters pay producers from USD 6.50 to USD 6.85, only for the fruit. The new price will be applied starting January 1, 2024, as announced by the Ministry of Agriculture and Livestock.  

The price for the 43-pound (19.5 kilogram) box of bananas was agreed between producers and exporters a few hours before the negotiation period expired, and the government would have to set the price at its discretion. 

At a press conference in Guayaquil, the Minister of Agriculture and Livestock, Eduardo Izaguirre, explained that "this will be the basis for the signing of contracts for selling the fruit in international markets." 

Izaguirre said the new minimum price for the banana box was set based on a technical analysis.