Banana Production in Panama Reactivated

Del Monte will invest $100 million to produce bananas in Chiriqui and Bocas del Toro, and it is estimated that average productivity will reach 2,725 boxes of fruit per hectare per year.

Thursday, December 1, 2016

From a statement issued by the Presidency of Panama:

The revival of the banana-growing areas in the provinces of Chiriqui and Bocas del Toro will become fact, after Wednesday's Cabinet Council approval of the conclusion of the Contract Law that will allow a subsidiary of the transnational fruit company Del Monte to invest more than 100 million dollars in banana production, announced the president of the Republic, Juan Carlos Varela.

With the revival of this business through the company Banapiña of Panama, S.A., it is expected that about 3,100 direct jobs will be generated along with the consequent generation of 12,000 indirect jobs in trade and services.

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More on this topic

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.

Reactivation of Banana Production in Baru

October 2016

The draft contract with Del Monte establishes a period of 20 years, which is "extendable" and a minimum investment of $100 million over 7 years.

The Minister of the Presidency, Alvaro German, said that the contract being negotiated with the multinational Del Monte also establishes a performance bond of 5% of the total value of the investment.

Another Proposal to Grow Bananas in Baru

May 2016

The multinational Del Monte is now joined by Cooperativa Bananera del Atlántico, whose proposal to reactivate production of the fruit in the area would involve a total investment of $35 million.

The cooperative which already produces bananas in Changuinola presented to the Association of Agricultural Producers Rodolfo Aguilar Delgado (Aparad) a proposal to invest $20 thousand per hectare in order to revive banana production in the area which is currently owned by the former workers of Coosemupar.

Del Monte Presents Contract for Bananas in Baru

April 2016

The government is analyzing a proposal put forward by Del Monte to revive banana production in the area, which would involve an investment of $126 million on the part of the company.

The Minister of the Presidency, Alvaro German, told Prensa.com that "... the negotiations with the company will begin in the first week of May and are scheduled to last until the end of June."

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