Economy November 24, 2016 | 9:25 am

Banana growers tally losses, expect RD$1.0B in Gov. loans

Santo Domingo.- Northwest Line banana growersplace the losses from flooded plantations at RD$2.1 billion, according to DominicanBanana Association (Adobanano) president Simeón Ramírez.

The figure has been confirmed by National AgriculturalProducers Confederation (Confenagro) director Hecmilio Galván

Ramirez said some 5,500 hectares of banana plantationshave been damaged, which he affirms has already led to a 25% fall on its exports."I can say that because of the various scenarios that have occurred. It’sbeen more than once when the water has entered and has left, we can say thatthose 5,000 hectares are going to be lost."

He said the country exports 380,000 boxes ofbananas per week, but the flooding will decrease that figure by at least 90,000boxes.

"That in terms of money implies a highvalue, it implies that probably for next year, when this begins to be reflectedby year end, we’ll have 50 million dollars less," he said.

"In my case the bananas that I lost wereon 16 hectares that is ready to harvest, and of 30,000 clusters that were onthe farm, we were only able to cut 1,000 and in plantains, I lost around RD$2million, that means that I lose between six and seven million pesos," saidproducer Marcos Rodríguez, quoted by diariolibre.com.

Funding

Banana growers expect RD$1.0 billion ingovernment funding from 5-year loans, with one year to start paying.

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