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Economy · Funchal · 28 October 2026

PS-Madeira calls for higher banana prices paid to growers

The Socialists accuse the GESBA monopoly of favouring the public company at growers' expense as banana sales fall.

PS-Madeira is calling for an increase in the price paid to banana growers, arguing that the drop in production and sales shows the sector's management model, built on the GESBA monopoly, mainly benefits the public company.

According to official figures cited by the party, banana sales fell by about 15.4% in the first nine months of the year. MP Sílvia Silva says growers bear the losses while GESBA finds ways to profit, including through public funding from regional and European sources.

The Socialists also reject the government's explanation that the decline is due only to bad weather, arguing that the failure to adapt the crop to climate change is part of the problem. The government's response is not included in this report.

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