MSC’s logistics arm expands cold chain network in China with five-facility joint venture

2026-03-20

MSC's logistics division is expanding its cold chain network in China through a joint venture that operates five cold storage facilities in Shanghai, Tianjin, and Ningbo. This marks the MSC Group's largest cold chain investment outside of the Americas, as the reefer infrastructure at major ports in China faces increasing pressure.

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CMA CGM Launches the "West Indies Hub”

2026-03-20

In December 2023, CMA CGM announced the launch of the Antilles hub project, which brings together the major seaports of Martinique and Guadeloupe, along with the State and CMA CGM, for a total investment of €336 million. The ship owner has made a substantial contribution to this initiative. The primary goal of the hub is to centralise the flow of goods, facilitating the transhipment of containers between the main ocean lines and regional services in the French West Indies, the Caribbean, and Central and South America.

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UK: Startup Secures €91.3 Million for Gene-Edited Bananas

2026-03-20

Tropic, a Norwich-based AgTech startup specialising in gene-edited tropical crops, has completed an oversubscribed Series C funding round, raising €91.3 million (approximately $105 million). This funding will accelerate the global expansion of its banana and rice portfolios, as well as its pipeline of climate-resilient crops.

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Market Overview – Week 12/26

2026-03-20

During week 12, banana prices in St. Petersburg started at USD 22.60–23.20 per box CIF at the beginning of the week. However, prices began to decline, falling to USD 21.40–22.00 per box CIF by Wednesday and further dropping to USD 20.20–20.80 per box CIF by Thursday. Approximately 1.750 million boxes were discharged, and around 2.040 million boxes are expected to arrive in week 13. The exchange rate was 84.84 Rubles for 1 USD. In the Mediterranean, the price for Ecuadorian bananas varied between USD 18.00 and 19.00 per box CIF, depending on volume, region, packing, and weight. Central American bananas were priced at about USD 17.00 per box CIF.

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Plátano de Canarias Losing Market Share to Dollar Bananas requests more aid for outermost regions

2026-03-20

Plátano de Canarias has in recent years faced mounting structural, economic, and institutional pressures, prompting renewed calls from producers to safeguard existing support mechanisms while addressing shifting market dynamics and internal imbalances. Over the past decade, locally grown plátanos—primarily from the Canary Islands—have steadily lost ground in European markets to imported bananas. Between 2015 and 2024, imports into the European Union rose by 25.1%, increasing from 4.25 million tons to 5.32 million tons. In contrast, EU production remained largely stagnant, edging up only slightly from 669,700 tons to 677,600 tons. As a result, the share of European plátanos in total supply fell from 13.6% to 11.3%.

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Ecuador's Agro-Exports Gaining Traction in the US

2026-03-20

Ecuador and the United States signed the Reciprocal Trade Agreement (ART) on March 13, 2026. This agreement aims to improve access for Ecuadorian products to the U.S. market and directly impacts one of the key components of the national economy: agricultural exports. The significant data highlights that the agreement will eliminate surcharges that currently affect 53% of Ecuadorian non-oil exports to the United States, amounting to USD 2.786 billion based on 2025 figures. In essence, more than half of these exports will be able to compete under better conditions in one of the largest markets in the world.

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Chiquita’s Pop by Nature Expands with Miss Chiquita in Motion

2026-03-20

Chiquita has unveiled a second artwork in its 2026 Pop by Nature campaign, created with contemporary artist Jiaqi Wang. While the first piece reintroduced Miss Chiquita in her tropical setting, this new chapter presents her in motion—dancing, cooking, and sharing everyday moments that highlight bananas as a global staple. Now in its third year, Pop by Nature positions bananas as both nourishment and a cultural symbol. Wang’s vibrant style transforms Miss Chiquita from a static icon into a relatable, modern character.

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Chiquita Tests Production as It Restarts Operations in Panama

2026-03-20

Chiquita has resumed limited banana production in Panama as part of a phased reactivation after shutting down operations in mid-2025 due to heavy losses and a union strike that led to 5,500 layoffs. Since November, production has remained low and focused on the local market, allowing the company to test fruit quality and evaluate upgraded packing facilities. No export timeline has been confirmed, though the goal is to meet international standards.

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Port of Vigo Begins Demolition of Old Cement Silos at Guixar Terminal

2026-03-20

The Port of Vigo is set to begin demolishing eight old cement silos at the Guixar container terminal, freeing up over 6,000 square meters of space to enhance efficiency. This initiative aims to address the recent surge in containerised fruit traffic. The project includes a tender for the demolition and adaptation of the esplanade, scheduled for April, with an estimated budget of 1.5 million euros. Port sources state that this development is a significant step in modernising infrastructure to support continued growth and competitiveness.

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New record in the reefer segment for Port of Antwerp-Bruges

2026-02-20

Port of Antwerp-Bruges closed 2025 with a record year for the reefer segment, with the port handling 1,170,394 TEU of reefer containers, the highest volume ever recorded. The growth is primarily driven by a 13.5% increase in import volumes. Export volumes of reefer containers remain largely stable (0.9%) and represent 35% of the total volume.

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CMA CGM to sign contract with Cochin Shipyard for six box ships

2026-02-20

Rodolphe Saade-led CMA CGM, the world's third-biggest container carrier, will sign a firm contract with state-owned Cochin Shipyard Ltd on February 18, 2026, for constructing six container ships in a deal worth about $300 million, catapulting India into the big league of shipbuilding nations.

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CMA CGM Fiordland Marks Historic Visit to New Puerto Antioquia

2026-02-20

CMA CGM's Fiordland has become the first large container vessel to dock at Puerto Antioquia, Colombia's newly operational multipurpose port in Turbo, Antioquia. This milestone highlights the port's capability to accommodate post-Panamax ships, enhancing container logistics networks across Latin America and potentially improving transhipment routes for Indian exporters through connections to the Panama Canal.

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Agriculture in Costa Rica Sees Decline in GDP Contribution and Job Losses

2026-02-20

The agricultural sector in Costa Rica has experienced a significant decline in its contribution to the country's economy, falling to 3.34% of the gross domestic product (GDP). This reduction comes alongside the loss of over 47,000 jobs, highlighting the sector's ongoing importance to rural employment, according to economists and industry representatives.

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Market Overview – Week 08/26

2026-02-20

During week 08, banana selling prices in St. Petersburg ranged from 23.70 to 24.40 USD per box, CIF. Approximately 1.8 million boxes were discharged, and an additional 2.175 million boxes are expected in week 09. The exchange rate is currently 76.64 Rubles for 1 USD. Rosstandart has approved the first regulations in Russia for bananas intended for import and subsequent sale in various markets. These new rules will monitor the importation of bananas based on several criteria, including appearance, taste, smell, and degree of ripeness. Remarkably, the import of yellow bananas is prohibited. Other requirements specify that the fruit should have a subtle banana flavour, produce latex when cut, measure at least 14 centimetres in length, and have at least three fingers per hand.

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Plátano de Canarias Concludes 2025 with Second Lowest Harvest of the 21st Century

2026-02-20

The Canary Islands' banana production totalled 374.6 million kilos in 2025, a 12% decline. This marks the second-lowest harvest in the past 25 years. Despite remaining a preferred choice among consumers and reinforcing its added value, the Canary Islands' banana sector has struggled to compete with imported bananas on the Peninsula. In 2025, consumption of imported bananas increased from 285 million kilos in 2024 to over 322 million kilos, a 4.62% increase. This increase was largely due to a decline in the domestic product.

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