Banana Trade Case Study Flashcards
What are some figures of the banana trade?
- 1/3 bananas are Fairtrade in 2013.
- 42% of the banana price goes to the retailer.
- 70% of UK imports go through Portsmouth.
- Estimated $15 billion annually.
- Asia controls 17% of global imports.
What are some facts about the banana trade?
- World’s most popular fruit.
- UK, Europe, and America are top consumers.
- China and India have high export and import rates.
What is the ‘Race to the Bottom’ in the context of banana trade?
High demands for low cost bananas means the risks are externalised in industry before the selling of one. Decrease in social and economic conditions.
What are bananas sometimes nicknamed?
‘The Chemical Fruit’ - 2nd highest agrochemical input for global products, behind cotton.
What is a disadvantage of the monoculture of banana plantations?
Reduced biodiversity as large areas of land starve soil of specific nutrients.
Roughly what percentage of total banana profits stay in the importing country?
85%
What is eutrophication?
The runoff of fertilisers into rivers, stimulating the growth of algae which starves the river of oxygen, reducing biodiversity.
Which sector of the industry has most of the control over banana trade?
Retail - switching of contracts guarantees a supply.
What were the 4 major companies that had the most control over banana trade in the 20th century?
- Chiquita (USA)
- Dole (USA)
- Del Monte (USA)
- Fyffes (Ireland)
What happened in the late 20th century in relation to trade wars in the banana trade?
Dispute between the EU and the USA which led to high tariffs imposed on bananas after the EU stopped importing US bananas to protect smaller businesses.
Which three countries continue to compete against South American TNCs alongside Fairtrade?
- Dominican Republic.
- Windward
- Belize
