Panama declares emergency over banana region unrest

Panama's president has declared a state of emergency in the country's banana-producing region, amid protests over falling prices and rising costs.

The declaration came after clashes between protesters and police in the province of Bocas del Toro, which accounts for a third of Panama's banana exports.

Details of the emergency declaration are unclear

According to reports, President Nito Cortizo's administration has not yet specified the precise details of the emergency measures being implemented in the province.

Background on the agricultural industry

The banana industry has been suffering from a global surplus, leading to lower prices, while inputs such as fertilizers have become more expensive.

Banana exports are vital for Panama's economy, with the US the primary recipient of its shipments.

Future ramifications to be monitored

The emergency measures are unlikely to have a significant impact on the broader Panamanian economy, but any potential longer-term ramifications will be monitored.