Trends, opportunities and co-responsibility in Agroindustry

On November 18, our CEO, Vicente Wong, contributed in the panel: The Strengths of Ecuador vis à vis World Agro-food Trends, within the framework of “Ecuador Open for Business” event organized by the Ministry of Production and Foreign Trade. In his intervention, Vicente Wong highlighted the banana sector as an example of Ecuador's capacity to be an agro-industrial power, as well as the development opportunities based on world trends.

Also participating in the panel were Máximo Torero, FAO Chief Economist; Pedro Álava, Minister of Agriculture and Livestock of Ecuador; and Christian Broders, CFO of Agrícola Cerro Prieto.

The competition is global in scale. Achieving greater efficiency and productivity is what will mark the degree of competitiveness of the country. In the case of bananas, Ecuador has comparative advantages such as an ideal climate and soil that allows the production of bananas all year round and a long shelf life. “This characteristic allows the country to have diversified markets and to export its bananas to distant destinations. Working towards greater efficiency, added to the strengths of the sector, is a powerful formula to continue growing”, Wong mentioned.

At the same time, the world market is challenged with a true ecological transition. Reducing greenhouse gas emissions, caring for the water footprint, developing biotechnology and achieving a circular economy are on the agenda towards the sustainability of agribusiness. "All this implies a definition of tactical plans and investment, as well as opportunities for development and collaboration in our sector."

In the field of innovation, technology offers more and more alternatives to be efficient in the use of resources and achieve greater product traceability. “The application of technology is wide. On the one hand, with the use of sensors and data analysis systems we can have better control over the use of fertilizers, irrigation and agrochemicals. On the other hand, it offers us alternatives to make the production process even more transparent to our customers so that they have the security of the point of origin of each box of bananas they receive, to cite an example. "

Another relevant factor to promote agribusiness lies in the addition of value, so that Ecuador manages to differentiate itself and that its products stand out from those of other origins.

Finally, Vicente Wong pointed out that reaching sustainability goals and taking advantage of opportunities derived from market trends requires research, investment and a joint effort from producers and the entire value chain. "This is a shared responsibility; all members of the chain have a role and commitment to fulfill for the sustainability of agribusiness."