Ecuador's most famous product is something that probably most people think is made in a completely different country. It is the Panama hat, known locally as a sombreros de paja toquilla, and not made in Panama but exclusively in Ecuador and, especially, here in Cuenca.

People probably have a picture in their mind of the classic Panama hat, white with a broad brim and a black band, but they come in a bewildering variety of sizes, shapes, colours styles and prices. The shop where we bought ours today, La Paja de Toquilla, had two floors stuffed with hats that ranged in price from $25 to $1,000. As all the hats are handmade the price directly reflects the time it takes to make one. A $25 hat may take just three days, the one at $1,000, perhaps a year. How long it takes depends on the fineness of the weave, The finer the weave the longer it takes. The most expensive hats are so fine that they feel as smooth as paper. How much of the final price goes to the weaver is a moot point.

The raw material for the hats is the plaited leaves of the Carludovica palmata plant, known locally as the toquilla palm (actually a palm-like plant rather than a true palm). In 2012 the art of weaving the traditional Ecuadorian toquilla hat was added to the UNESCO Intangible Cultural Heritage Lists in recognition of the fact that the skill of hat weaving is one that is unique to Ecuador and is passed down from generation to generation as part of their cultural heritage.

Famous Panama hat wearers have included Winston Churchill, Orson Welles, Humphrey Bogart and, more recently, Ian McKellen and Johnny Depp. Mine and Kate's names can now be added to the list.

As to why it is called the Panama rather than the Ecuador hat? This apparently dates back to when Panama formed the main export market for the hats. The link was cemented in 1906 when President Theodore Roosevelt donned a Panama Hat during his visit to the Panama Canal's construction site, elevating the hat from utility to fashion statement. The name has stuck ever since, much to the annoyance of the Ecuadorians.

Finally I can now fully agree with the advice from the Tory peer, Baroness Rawlings, who in June 2014, as part of her thrifty tips on how to save money urged people if they were having a garden party to buy Panama hats rather than hire a marquee! (Actually Panama hats are no good in the rain which just shows how out of touch she was.)