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Acorbanec develops new strategy to stimulate Ecuadorian banana sector
VU
Banana sales in Ecuador in July 2021 registered a record of the last 5 years, totaling 28.9 million boxes of the fruit, according to the Association of Marketing and Banana Export (Acorbanec).
At the same time, in the accumulated from January to July, Ecuadorian fruit exports reached 223 million boxes, which is 3.79% less than the result of the same period of 2020.
This drop was impulsed by decline in sales in markets of East Asia (-27%), the Middle East (-18.59%), Russia (-6%), the European Union (-3.84%). However, purchases increased in the US, Africa, Eastern Europe and the Southern Cone.
In relation to this, for the second semester of 2021, Acorbanec will focus on improving the positioning of Ecuador's bananas in potential and current markets, offering the option of credit sales for new clients, and increasing the volume of exports while minimizing risks.
To this end, Acorbanec signed an agreement with Coface, a French multinational specialized in credit insurance, so that the companies affiliated to the association have products and services that allow them to access commercial data of their buyers to ensure they comply with the obligations.
Coface will provide exporting entities with commercial reports with analysis and evaluations that allow them to know the risk of the debtor, their payment capacity and the sales quota that they could have according to their financial history, with the aim of attracting new clients through credit sales.
Also, it offers the collection management service with coverage in almost 100 countries; and advice on Export Credit Insurance to minimize non-payment risks for foreign buyers.
The company will provide insurance policies for credit sales, which is also beneficial for exporters.
Richard Salazar, executive director of Acorbanec, commented that they seek to attract more clients in markets with a stable payment chain. In addition, they hope to conclude trade agreements with the Eurasian zone, South Korea, China, and Japan in order to reduce or eliminate tariffs.
