Fresh Del Monte prospering in unstable environment

The weak economy didn’t hurt Fresh Del Monte Produce Inc. in the third quarter. In fact, market conditions are working in its favor.

Tuesday, November 4, 2008

“Our competitive situation is growing stronger every day,” chairman and chief executive officer Mohammad Abu-Ghazaleh said during an Oct. 28 conference call. “What we are noticing right now in the market is small growers and other exporters and distributors are feeling the credit squeeze.”

For example, Abu-Ghazaleh said, banks in Costa Rica have stopped extending credit to agricultural companies. That means growers there could be forced to stop operations or sell their land, he said.

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FDA responds to Del Monte Suit

August 2011

The U.S. Food Administration (FDA) prevented the entry of melons grown in Asuncion Mita, Guatemala.

Del Monte Fresh Produce decided to sue the agency after it put a lock out order on the melons from the plant that Del Monte has in Guatemala.

They argue that according to their information, poor hygiene and product handling practices, and the proximity of animals in the area of cultivation, among other factors, caused the Salmonella outbreak that occurred in February and March this year.

Panama - Fresh Del Monte Talks Fail

May 2009

Del Monte withdrew from negotiations for the operation of COOSEMUPAR, and a substitution through government investment is being considered.

Del Monte multinational withdrew from negotiations for the operation of Port Armuelles Multiple Services Cooperative (COOSEMUPAR) due to protests by cooperative workers, who blocked the border crossing between Panama and Costa Rica.

Panama: Banana Agreement with Fresh Del Monte

April 2009

IPACOOP selected the offer of $54 million by Del Monte for the rental of 3 thousand hectares from the COOSEMUPAR banana company for 25 years.

With the decision of the Panamanian Autonomous Cooperative Institute (IPACOOP), negotiations for an agreement between cooperative COOSEMUPAR and Del Monte for the rental of the banana plantations will begin.

Fresh Del Monte pays US$403 million for Costa Rican estate

June 2008

Fresh Del Monte acquired Caribana, a Costa Rican estate that produces bananas and pineapple, for US$403 million. The purchase boosts Del Monte's Central American landholdings to some 13,000 hectares.

The purchase includes the acquisition of banana producer Desarrollo Agroindustrial de Frutales, and Frutas de Exportación, a pineapple producer.

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Del Sol Fruit

Growers and exporters of fresh fruit from Costa Rica. Located in San Carlos and Guapiles, as well as our commercial office located in Massachusetts, USA.
Operates in Costa Rica
Phone: (508) 740-5594

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