US-EU Sanctions Hit Latin America’s Banana Growers

Russia is a large consumer of the Latin American banana—but western sanctions have dealt a devastating blow to farmers who can no longer get their products to market. For Ecuador, the world’s largest exporter of bananas, the setback has been disastrous. Around 25% of Ecuador’s banana exports go to Russia and 90% of all bananas consumed in Russia come from Ecuador. However, commercial ships carrying the bananas can no longer reach the port of St. Petersburg due to sanctions imposed by the US and EU. The sudden drop in demand has left producers with excess supply. Prices have collapsed as a result.

The post US-EU Sanctions Hit Latin America’s Banana Growers appeared first on PopularResistance.Org.

This post was originally published on PopularResistance.Org.