Rio Frio, Banana Zone - CORTRABAM (Corporation of Banana Workers of Magdalena) linked to the farms of the Beatrice Flye de Mitchell S en C business group. Its marketer, C.I. Agrícolas Las Flores SAS, is pleased to announce the delivery of the first phase of 15 houses of the housing project, which consists in its entirety of 57 houses in which the contractor Constructora Poblar LTDA intervened with the design and construction and the supervision firm of Lettfalah Nader, Architects and Builders.

Fresh Del Monte Produce Inc. and Vellsam Materias Bioactivas, a top producer of biotechnological solutions, have announced a partnership. This collaboration aims to explore the potential of maximising the use of Fresh Del Monte's pineapple residues through the production of biofertilisers. The partnership, operating under the name De l'Ora Bio, is marking this collaboration with the inauguration of a fertiliser plant in Kenya, the first step in their bio fertiliser production venture.

On May 15, the prefect of El Oro, Clemente Bravo, announced the parameters for the traditional 2024 Rey Banano contest, which will take place in September during the World Banana Fair. The Rey Banano 2024 proposal includes categories for both conventional bananas and organic bananas based on the hectare of each farm or estate. In this edition, there will be 12 winners distributed in the following categories:

During week 20, banana selling prices in St Petersburg were approximately USD 24.90 per box CIF. These prices were subject to brand, quality, volume, and packaging variations. Traders predict a potential price decrease shortly due to the anticipated influx of large quantities of seasonal local fruit in the market, which consumers prefer over bananas during summer. Close to 880,000 boxes of bananas were unloaded, and an estimated 1.77 million boxes are projected for arrival in week 21. The exchange rate was 1 USD = 90.92 RUB. In the Mediterranean, prices for Ecuadorean bananas varied between USD 16.0 and 18.0 per box CIF, depending on brand, volume, region, and packing factors. Central American bananas were priced at around USD 2.0 per box less. In the Mersin Free Zone, the price range for Ecuadorean bananas was similar, ranging from USD 16.0 to around USD 18.0 per box for the re-exported fruit. However, there were opportunities for higher profits, with prices peaking at USD 19.0 per box for extra-quality fruit and heavy boxes of Ecuadorean bananas. Bananas from other origins maintained a lower price point, sold at around USD 2.0 per box less.

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers. FOR SUBSCRIPTIONS AND ADVERTISEMENT PLEASE CONTACT admin@novamedia.ws

The year 2023 was prosperous for Ecuadorian organic products, particularly bananas. These bananas solidified their presence in the European Union (EU), their primary market, which received more than half of this fruit's production, according to data from the Ministry of Production, Foreign Trade, Investment, and Fisheries.

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers. FOR SUBSCRIPTIONS AND ADVERTISEMENT PLEASE CONTACT admin@novamedia.ws or info@sopisconews.online

Dole Plc disclosed its first-quarter earnings, which increased from the previous year and surpassed market expectations. The company's earnings amounted to $70.14 million, or $0.74 per share, compared to $14.16 million, or $0.15 per share, in the previous year's first quarter.

Workers from productive and export sectors such as pineapple, coffee, banana, rice, and tourism are marching this Wednesday in downtown San José. They are protesting the impact of the appreciation of the colón against the dollar and the loss of competitiveness due to the exchange rate. The protesters are appealing to the Government of the Republic, the Central Bank of Costa Rica (BCCR), and the Legislative Assembly in a march that started from La Merced Park at around 9:10 a.m., passing by the BCCR building, the Ministry of Finance, and finally arriving at Democracy Square.

Hapag-Lloyd ended the first quarter of 2024 with a Group EBITDA of USD 942 million (EUR 868 million). Compared to the same quarter of the previous year, the Group EBIT decreased to USD 396 million (EUR 365 million) and the Group profit to USD 325 million (EUR 299 million). In the Liner Shipping segment, transport volumes for the first quarter of 2024 increased by 6.8 per cent to 3 million TEU (Q1 2023: 2.8 million TEU).

Rising water levels in the Panama Canal have ignited optimism for a potential resumption of normal operations for container shipping following over a year of restrictions due to an intense drought. However, experts caution that while the situation is improving, it is still far from returning to pre-restriction conditions. From May 16 onwards, the Panama Canal Authority has increased the daily quota of ships permitted to transit the waterway from 24 to 31.

With the mediation of the Ministry of Labor and Labor Development (Mitradel), the negotiation of the new Collective Convention between the Union of Workers of the Banana Agricultural Industry and Related Companies (SITRAIBANA) and Chiquita Panama ended.

Elo Life System, a biotechnology company based in North Carolina, United States, is working on the development of a genetically resistant variety of banana to the wilt caused by the Fusarium Tropical Race 4 -TR4-, the disease caused by the fungus Fusarium oxysporum f. sp. cubense (Foc).

In week 19, banana selling prices in St. Petersburg hovered around USD 24.60 per box CIF. Factors such as brand, quality, volume, and type of packaging influenced these prices. Demand remained strong despite the extended holiday period from May 9th to 12th. Nearly 2.15 million boxes were discharged during the week and around 880.000 boxes are expected for week 20.The prevailing exchange rate was 1 USD = 91.82 RUB. The selling prices for Ecuadorean bananas in the Mediterranean ranged from USD 16.0 to 18.0 per box CIF, depending on the brand, volume, region, and type of packing. Central American fruit was priced around USD 2.20 less per box. In the Mersin Free Zone, the prices for re-exported bananas of Ecuadorean origin were approximately USD 16.0 to 18.50 per box. For Central American bananas, the prices were around USD 13.0 to 15.50 per box. Prices consolidated compared to the previous week due to a decrease in the available banana volumes. This was a result of the delay of a vessel from a line that regularly docks at the Turkish transit port. The prevailing exchange rate was 1 USD = 32.23 TL.

In just four days, 186.000 banana plants in Erode fell due to wind. Officials have stated this is the most severe damage in the past decade. Farmers are appealing to the government to declare suitable compensation. A survey of banana trees damaged due to rain and strong winds from May 1 to 4 in 32 villages in Bhavanisagar, Sathyamangalam, and Thalavadi blocks concluded, revealing that 186.000 banana plants have been damaged, causing losses for 187 farmers. Moreover, the survey disclosed that 94,000 banana plants were destroyed in a single day, on May 4, in the Bhavanisagar block alone.