Bananas Fair Trade Floor Price

The banana industry is labour intensive and demanding.

Bananas fair trade floor price. However the wages achieved by fairtrade workers remain below a minimum income standard which would cover the cost of food education travel housing clothing and cultural activities. Fair trade standards for bananas. When the market price is higher than the fairtrade minimum price producers should receive the current market price or the price negotiated at contract signing. This price pressure can leave banana growers unable to cover the costs of production threatening their livelihoods.

To help the banana sector make this transition to sustainability fairtrade international commissioned true price and trucost to prepare a first ever study on the external social and environmental costs of banana producers in the key origins of colombia dominican republic ecuador and peru. Today fairtrade bananas account for an increasing percentage of the total world trade in bananas and over a third of those sold in the uk carry the mark. However the wages achieved by fairtrade workers remain below a minimum income standard which would cover the cost of food education travel housing clothing and cultural activities. It mainly applies to goods produced for the international export market such as bananas cocoa coffee cotton tea or sugar.

But a highly competitive market creates price pressure on bananas ultimately putting the squeeze on banana growers. Choosing fairtrade bananas makes a difference. Since the late 1990s the. Fairtrade minimum price and premium information.

This is not a commercial brand but a marketing strategy. Fair trade is based on higher prices paid by consumers that allow an equitable distribution of gains from trade over the chain partners. Today fairtrade bananas account for an increasing percentage of the total world trade in bananas and over a third of those sold in the uk carry the mark. Fairtrade bananas was a marketing initiative which focused on increasing the price paid to small banana growers and the wages of agricultural workers.

A group of industry experts made the case for paying a fair and sustainable price for bananas as part of the fruit logistica trade fair in berlin on 7 february. Fairtrade today welcomed the announcement by the governments of côte d ivoire and ghana to implement a floor price for cocoa of us 2 600 per metric tonne. The fairtrade minimum price where it exists is the minimum price that must be paid by buyers to producers for a product to become certified against the fairtrade standards. Farmers in the two countries which together produce more than 60 percent of the world s cocoa supply have been hit hard by a collapse in cocoa prices in 2017.

Bananas are grown on both small scale farms as well as large plantations.