Banasan Strengthens Water Security in Zona Bananera

2024-03-01

Banasan, the leading Colombian banana exporter based in Santa Marta with over 18 years of experience in the market, exports approximately 13 million boxes of bananas annually from small, medium, and large producers. The company reaffirms its commitment to the care of natural resources. With the ASR4WS Project, Banasan aims to strengthen water security in Zona Bananera through a feasibility study of artificial recharge and recovery of aquifers on the region's farms.

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Indian Students Exposed to Advanced Technologies in Banana Cultivation

2024-03-01

Indian students were exposed to recent developments in agricultural research, especially in banana cultivation, during the National Science Day celebrated by the National Research Centre for Banana (NRCB) here on Wednesday. Around 3,500 school and college students, banana farmers and other stakeholders from Tiruchi and neighbouring areas participated in the event during which they were showcased the research activities and achievements of the institute and the advanced technologies developed on various aspects of banana production.

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Market Overview – Week 9/24

2024-03-01

In Russia, the banana market has recently seen a downward price trend. The decline is primarily due to an oversupply of the fruit and a corresponding lack of demand. Most sales, determined by brand, volume, quality, and packaging, were priced in St Petersburg at approximately USD 18.30 to USD 19.40 per box CIF basis. However, the overall range of prices fluctuated between USD 17.20 and USD 20.50 CIF . The exchange rate was 1 USD, equal to 90.84 RUB during this period. The prices for a 19 kg box of Ecuadorean bananas in the Mediterranean market varied between USD 16.0 and USD 19.0 per box CIF. The price range was influenced by brand, quality, region, volume, and packaging factors. Algeria recorded the highest prices, with the cost per box reaching approximately USD 18.50 to USD 19.0 CIF. Conversely, Libya reported the lowest prices for Ecuadorean bananas, with sales averaging around USD 16.0 per box CIF. Central American bananas were even more affordable in Libya, ranging from USD 14.50 to USD 15.0 per box CIF.

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Ecuador’s Political Landscape: President Daniel Noboa’s Reelection Bid

2024-03-01

Ecuador’s President, Daniel Noboa, has officially announced his intention to run for reelection in the upcoming elections scheduled for February 9, 2025. He will represent his party, which he characterizes as a “national movement”. The party is expected to be fully operational by early April. Noboa, who became the youngest president at the age of 36, took office in late November 2023 for a term of one and a half years.

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Fresh Del Monte’s Financial Performance and Stock Movement

2024-03-01

Fresh Del Monte Produce experienced a downturn in its stock due to lower-than-expected earnings for the fourth quarter. The primary reason for this was a decrease in banana sales, which was partially offset by robust pineapple sales and increased avocado prices. Following a review of its North American operations, including Mann Packing, the company reported a $131.2 million impairment charge. Despite this, Fresh Del Monte raised its quarterly dividend by 25%.

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Bananas Exported from Ecuador

2024-03-01

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

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Fyffes to rebrand bananas sold in Europe

2024-03-01

Fyffes intends to phase out its namesake label for its bananas sold in mainland Europe. The products will instead be sold under the name of the Dublin-based company’s new consumer brand, Trudi’s. Fyffes’ move applies solely to its “premium banana segment”, the group told Just Food, and excludes produce sold to the UK and Ireland. Trudi’s was launched last October, with the goal of marketing Fyffes’ bananas as healthy products that also help to support the communities where they are grown in Costa Rica.

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Dole Shares Gain After 4Q Profit Jumps

2024-03-01

Shares of Dole advanced after the company's fourth-quarter profit popped up and its adjusted earnings were twice as high as analysts had been expecting. The stock was up 3.4% at $11.50 in premarket trading. Shares had fallen 9.5% year-to-date when the market closed Wednesday. The Irish-American agricultural company posted a profit of $22.3 million, or 23 cents a share, compared with $6.8 million, or 7 cents a share, in the same quarter a year ago.

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India’s Burhanpur District Hosts Two-Day Banana Festival

2024-02-23

The Burhanpur district administration inaugurated a two-day Banana Festival aimed at enhancing the quality and quantity of the crop. The festival, which is part of the “one district-one product” initiative, provides a platform for selling bananas and setting up industries to produce its byproducts, thereby generating employment opportunities.

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  • Banaval Trading - To Export The Best Ecuadorian Banana

Fresh Del Monte Produce to Release Earnings on February 26

2024-02-23

Several large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its Fresh Del Monte Produce position by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 26,385 shares of the company's stock valued at $693,000 after acquiring an additional 615 shares in the last quarter. Barclays PLC grew its Fresh Del Monte Produce position by 91.8% in the fourth quarter.

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Market Overview – Week 08/2024

2024-02-23

Banana selling prices in St Petersburg ranged from USD 20.10 to 22.25 per box CIF. Approximately 1.79 million boxes were discharged in week 8, and around 2.25 million are expected for week 9. The exchange rate was 1 USD = 92.44 RUB. The Russian Federation had a long weekend as Friday, February 23rd, was a national holiday, the Public Life Defender of the Fatherland Day. Most schools, banks, and official buildings were closed on this day. After the ban on banana imports from five Ecuadorian companies was lifted, all discharge and custom-clear operations were expected to proceed smoothly. However, cold temperatures during the week delayed operations in the St Petersburg port. The weather improved later in the week. In the Mediterranean, prices for Ecuadorean bananas were USD 17.0-18.0 per box CIF, depending on the brand, volume, packing, and region, with peaks up to USD 20.0 in Libya. In Algeria, prices were around USD 17.0 per box CIF, which only allowed importers to break even without any gain.

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Ecuador’s Trade Landscape: A Delicate Balance

2024-02-23

The Ecuadorian Federation of Exporters (Fedexpor) has called for prudence in the nation’s international trade dealings. This appeal follows Russia’s recent decision to lift suspensions on five Ecuadorian banana exporting companies. Miguel Ribadeneira, Fedexpor’s president, underscored the necessity of robust international relations, asserting that Ecuador cannot afford to lose even a single dollar in exports.

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Ecuador and Russia Forge Ahead After the Banana Dispute

2024-02-23

A significant development in international phytosanitary control has been reported. Russia and Ecuador have agreed on a memorandum concerning this critical agricultural health and safety aspect. Interfax, a non-governmental news agency based in Moscow, disclosed on February 22 that an agreement had been reached between Rosselkhoznadzor, Russia's Federal Service for Veterinary and Phytosanitary Supervision, and the Agriculture Quality Assurance Agency of Ecuador.

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Uzbekistan’s Banana Imports in 2023: A Closer Look

2024-02-23

In 2023, Uzbekistan’s banana imports experienced a 5% decrease, with the total import volume reaching 133.5 thousand tons. This was a drop from the previous year’s figure of 140.2 thousand tons. Despite this decline, Ecuador maintained its position as the primary supplier of bananas to Uzbekistan, a trend that continued from 2022 to 2023. The Statistics Agency of the Republic of Uzbekistan reported that the country’s expenditure on banana imports amounted to $95.1 million in 2023.

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MSC Nears Historic 20% Global Market Share

2024-02-23

The Mediterranean Shipping Company (MSC) is on the verge of a significant milestone, set to become the first shipping liner to command a 20% global market share since Maersk achieved this briefly in early 2018. This development highlights MSC’s impressive growth and strategic acumen in the intricate realm of international trade. This impending achievement coincides with MSC’s preparation to end its 10-year partnership with Maersk next year, marking the termination of their 2M vessel-sharing agreement.

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