Panama: 5,000 Hectares of Banana Plantations Sold for $40 million

Government authorities have announced the sale of 5,600 hectares of banana plantations in Baru to a consortium of Panamanian investors.

Tuesday, May 31, 2011

Without disclosing the company concerned, the Minister of Agricultural Development, Emilio Kieswetter said that they are involved in cultivating banana, pineapple and citrus fruit and palm oil.

"Kieswetter said that with these crops, they expect that about 2.000 jobs will be generated, which will benefit the families left jobless after the liquidation of the Multiple Services Cooperative of Puerto Armuelles RL", said an article in Prensa.com

He also added that they are awaiting the confirmation of some legal aspects before the consortium can begin operations.

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

Chiquita Brands Wants to Return to Panama

June 2013

Both Chiquita and Del Monte are participating in the auction of 3,100 acres that were part of the former grounds of the now defunt Coosemupar

Both companies are in talks with the Government and former employees of Cooperativa de Servicios Múltiples de Puerto Armuelles. A report by Ana Giselle Rosas de Vallarino, executive director of the Panamanian Autonomous Cooperative (IPACOOP) has revealed that with the money from the auction, the government will have to pay $17 million as payment of the worker-employer fee and other debts to suppliers .

Loans for Palm Oil in Panama

February 2012

Producers are taking out loans in order to expand plantations and production of palm oil in Chiriqui.

The Corozo and Palmetto Cooperative (Copal), Baru district, province of Chiriqui, which owns about 1,250 acres, has obtained a loan of close to one million dollars in order to finance part of the extension of cultivated land.

Authorities Propose Mixed Company to Run Coosemupar

January 2010

The Agriculture Ministry of Panama proposed the creation of a mixed public-private to run the banana plantations in Barú.

Both the Government and the interested company would invest $20 million.

"Roberto Santamaría, national Banana director, commented they are negotiating with several transnational corporations who are interested in the project.

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.

ok