As growers in the developing world go out of business, fears are growing for the stability of some small economies dependent on the crop...
It started as a skirmish between supermarkets, of interest only to those in the grocery trade. But Asda's decision to repeatedly slash the price of its bananas now threatens to undermine the fair trade movement and spells catastrophe for those who work in the industry, according to leading organisations representing fruit growers.
Renwick Rose, the chief executive officer of Winfa – the Windward Islands Farmers Association, whose 4,000 banana farmers export almost exclusively to Britain, has described the price war as "a scandalous way of doing business at the expense of farmers" and warned it will plunge banana growers into a "race to the bottom" that will benefit no one in the long term.
He was speaking after Asda cut the price of its loose bananas to 38 pence a kilo, its sixth cut in six weeks and a move that placed acute pressure on rivals to follow suit...cont./
Courtesy of: Guardian
Courtesy of: BBC
Courtesy of: Fairtrade
Courtesy of: Government of the Commonwealth of Dominica
15 hours ago