Chiquita Brands International has said banana prices in North America for January and February rose 10% on last year, while volume for the same period remained flat.
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In the core European markets, prices on a local currency basis rose 7% and in Asia Pacific and the Middle East it rose 10%.
Chiquita said its Fresh Express value-added salads business had seen “meaningful year-over-year increases” in both net revenue per case and volume growth in the two-month period.
“We are pleased that banana pricing remains favourable and that the US value-added salads category is rebounding from slow growth a year ago,” said Fernando Aguirre, chairman and CEO.
“At the same time, flat-to-lower banana volumes reflect industry-wide constraints on availability due to a series of adverse weather conditions throughout Central America and Ecuador. In addition, rising industry and other product supply costs continue to impact our results.”
Chiquita has previously announced it expects significantly higher industry costs in 2008, particularly for items such as fuel and purchased raw product.
