Del Monte CEO sees major changes in the banana trade

07/31/2013 | Fresh Fruit Portal (Chile)

Del Monte CEO Mohammad Abu-Ghazaleh said in a recent webcast that the worldwide banana business is in the midst of a "structural change." The company reported sales growth in the second quarter but also saw a decline in net income as the price of bananas increased 7%. The change resulted from Ecuador's decision to cut banana production. Abu-Ghazaleh said the change will be positive in stabilizing banana prices. "It will be a better solution for the producers, for the country," he said. "Less fruit, more money and more income makes more sense."

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Fresh Fruit Portal (Chile)

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