Costa Rica Coffee Guide

Europe Slices Latin American Banana Tariff

June 4, 2010

Europeans may soon be eating more Costa Rican bananas, as import tariffs slipped from 176 per ton to 148 on May 31.

Under an agreement finalized in December and signed Monday, all bananas coming from Latin America will be entering the European market with the reduced tariff. Importers who purchased bananas during the lapse between the finalization of the agreement and Monday’s signing will be paid retroactively.

“The immediate reduction from 176 to 148 allows Costa Ricans to compete in mproved conditions in the European market, which should bring better prices for producers,” read a statement from the Foreign Trade Ministry.

Tariffs on Latin American bananas will continue to drop until they reach 114 per ton in January 2017. But thanks to the Central American-European Union Association Agreement signed in mid-May, Central American countries will enjoy a further decrease to a total of 75 per ton.

For years, Latin American bananas have had trouble competing in the European market, as they were up against those of African, Caribbean and Pacific countries who paid no tariffs.

Europe produces only 10.5 percent of the bananas it consumes and imports more than 4.8 million tons of bananas, 3.8 million of which come from Latin America. The largest Latin American supplier is Ecuador, followed by Colombia and Costa Rica (TT, Dec. 18, 2009).

–Chrissie Long

You may be interested

The high stakes of digital slots: How casinos beat the competition for Costa Rican players
Advertorial
432 views
Advertorial
432 views

The high stakes of digital slots: How casinos beat the competition for Costa Rican players

The Tico Times - October 31, 2020

It is difficult – if not impossible – to imagine an industry better equipped to keep pace with its own…

President Carlos Alvarado vetoes Costa Rica’s controversial trawling project
Environment
1570 views
Environment
1570 views

President Carlos Alvarado vetoes Costa Rica’s controversial trawling project

Alejandro Zúñiga - October 30, 2020

President Carlos Alvarado on Friday announced that he has vetoed a project that would have authorized trawl fishing in Costa…

Authorities warn of significant weather to affect Costa Rica this weekend
Costa Rica
2280 views
Costa Rica
2280 views

Authorities warn of significant weather to affect Costa Rica this weekend

Alejandro Zúñiga - October 30, 2020

Authorities on Friday warned that Costa Rica may endure the indirect effects of a tropical wave beginning this weekend. The…