Progress in Banana Production Project

The sublease contract for 1,300 farms signed between Del Monte and the Panamanian government will allow banana production to start in Barú, Chiriqui.

Tuesday, January 16, 2018

From a statement issued by the Presidency of Panama:

The contract for the sub-leasing of more 1,300 farms for reactivation of banana production in Barú, province of Chiriquí, was signed on Monday by the Minister of the Presidency, Álvaro Alemán and the vice president of operations for Latin America of the company Del Monte, Jorge Pelaes.

See "Central American Bananas: 78% bought by 3 Countries"

The agreement, for 20 years, extendable, and for an amount of 9.9 million balboas, involves farms in Mango and Juabito, which will be the first to be used to start producing and exporting bananas.

The German minister stressed that there are only a few steps left for the Del Monte company, through its subsidiary Banapiña S.A., to begin operations, including: obtaining an endorsement from the General Comptroller of the Republic and the Environmental Impact Study from the Ministry of Environment.

Read full release (in Spanish).

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More on this topic

Banana Reactivation Project Makes Progress in Panama

May 2018

Due to the delay in approval of the environmental permit, in the first stage of the project, the subsidiary of Del Monte will cultivate 650 hectares of banana, instead of the 970 hectares originally planned.

Prensa.com reports that "... The company Banapiña de Panamá, a subsidiary of Del Monte, imported 1.2 million meristems from Costa Rica, of the banana variety "gran naim", to begin the cultivation process at the end of this month."

Project to Reactivate Banana Production

October 2017

In Panama, $13 million were approved to sign lease agreements with landowners where Del Monte will reactivate banana production in Barú, Chiriquí.

With the disbursement approved by the Cabinet Council, part of the contracts to lease farms may be signed so that Banapiña, a subsidiary of Del Monte, can start the process reactivating banana production in Barú.

Bananas: Details of a $100 million Investment

April 2017

Part of the $100 million that Del Monte will invest in reviving production in Chiriquí and Bocas del Toro will be used to build irrigation systems and infrastructure for packaging and exporting fruit.

The National Assembly approved the agreement between the Panamanian state and Banapiña S.A., a subsidiary of Del Monte, which will invest $100 million in reviving banana production in Chiriquí Grande in Bocas del Toro and in Barú and Alanje in Chiriquí.

Panama: $58 Million for Bananas in Baru

August 2016

Another proposal in addition to the one suggested to the government by the company Del Monte, seeks to revive banana production on the 1,700 hectares owned by the former employees of Coosemupar.

The proposal put forward by the Atlantic Banana Cooperative (Cobana) includes a feasibility study which states that "... the projection is that from the seventh year onwards annual earnings will be obtained of between $3 million and $4 million."

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