Banana Trade

Question 1

Free trade vs fair trade

Answer 1

Free trade means producers get the price consumers are prepared to pay

Fair trade is where consumers pay a fair and guaranteed price for a product

Question 2

Background information about bananas

Answer 2

One of the most produced, traded and consumed fruits

More than 50 million tonnes are produced each year - 20 million exported

Grown in tropical regions

90% of bananas for export originate in central and south America and Philippenes

Question 3

What TNCs dominate global banana trade?

Answer 3

Chiquita, Dole and Del Monte

Question 4

What are the Banana wars?

Answer 4

Six year disagreement

The EU granted special access to EU for Caribbean banana farmers

TNCs that controlled Latin American banana plantations filed a complaint because they though it was unfair

EU eventually reduced tariffs on Latin American bananas

Caribbean crops now struggle to compete