Chiquita posts increased banana pricing

by Staff
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CINCINNATI — Chiquita Brands International, Inc. has posted year-over-year banana price increases in North America of 35% for October-November 2008.

All markets posted banana price increases, and North America also posted a volume increase of 3%. Forty-two per cent of total North American volume had been sold.

"We continue our pricing discipline to help offset higher industry costs," said Fernando Aguirre, chairman and chief executive officer. "Banana volume remains about flat, and we expect that the relatively tight industry-wide supply conditions that we have seen throughout 2008 will continue, especially in light of recent industry-wide flooding, which affected parts of Costa Rica and Panama."

In the Salads and Healthy Snacks business, Chiquita posted a decrease of 1% for year-over-year volume growth in the period with net revenue per case up 8%.

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