SOUTH AMERICA

Exporters criticise Puerto Bolívar price hikes

9 years ago

In Ecuador, assembly member Carlos Falquez Batallas has called upon the State Comptroller General to undertake a “special examination of the pre-contract procedure and the execution of the contract as part of a public-private agreement between the government of former President Rafael Correa, the Port Authority of Puerto Bolívar and the Turkish company Yilport”.

Yilport formally assumed control of Puerto Bolívar on August 8, 2016 for a period of 50 years, but has since come under criticism from local banana producers following its decision to increase the price of handling a box of bananas by 60% as of next year, with a further hike of 16% the year after.

The banana producers subsequently met with government representatives to call for the Yilport concession to be withdrawn. Parliamentarians also argue that, given the importance of Puerto Bolívar to the local economy, it should not have been put out to concession.