The Subgroup on Markets is dedicated to promoting sustainability within the banana industry. At its core, the subgroup works towards establishing minimum and sustainable prices for banana boxes, utilizing tools like the Fairtrade Minimum Price Methodology. Additionally, actively monitors legal frameworks, compiling a database of national legislation and advocating for Responsible Procurement Practices. By fostering collaboration among stakeholders, the subgroup seeks to achieve collective agreements and tracks progress through monitoring wage improvements.

Objectives 

1. Continue a multistakeholder discussion on numerous priority issues regarding market accessibility for banana producers and costs of production. 
2. Reach a multistakeholder consensus on topics of discussion mentioned below to ensure producers are paid a fair price for their banana box that considers the costs of sustainable production. 
3. Support the creation of a database on sustainable purchasing practices. 
4. Facilitate collective bargaining agreements between producers and retailers that benefit both (e.g., retailers pay the Fairtrade Minimum Price for volumes of bananas purchased and in return producers commit to filling in the necessary data for the Salary Matrix).  
5. Support the involvement and active participation of all stakeholders and constituent groups within the Subgroup on Markets to ensure an equal and balanced representation to facilitate fruitful discussions. 

Activities 

• Subgroup Meetings: Since its formation, the subgroup has held four meetings, touching upon diverse banana box price-setting methods like the Fairtrade Minimum Price Methodology, sustainable purchasing practices by retailers, and fostering tri-partite/multistakeholder dialogue for mutually beneficial agreements. 
• Global Conference on Living Wages and Income (Rome, March 14, 2024): Members of the subgroup seized the opportunity to delve into critical topics, highlighting the critical role of collective bargaining, of understanding the impact of responsible purchasing practices, and also emphasizing the importance of clarifying wage standards, and promoting transparency in negotiations. 

Subgroup topics of discussion 

• Exploring diverse price-setting mechanisms for banana boxes, like the Fairtrade Minimum Price Methodology. 
• Examining sustainable purchasing practices employed by retailers. 
• Highlighting the significance of fostering tri-partite/multistakeholder dialogue to achieve agreements that benefit all stakeholders.