Fresh Del Monte enters banana production agreement
February 05, 2009
by Keith Nunes
CORAL GABLES, FLA. — Fresh Del Monte Produce has entered into a banana production and purchase agreement with Rise n’ Shine Biotech Pvt. Ltd., Maharashtra, India.
"We are very excited to have signed a multi-year, exclusive banana production and purchase agreement with Rise n’ Shine/India," said Mohammad Abu-Ghazaleh, chairman and chief executive officer of Fresh Del Monte Produce. "This new agreement is consistent with our vision to be a leading supplier of innovative, high quality fresh and prepared food products to global markets, while tailoring to our strategic focus of producing and delivering high-quality products cost efficiently. India’s geographic location offers the benefits of more efficient shipping to the Middle East and production quality because of shorter transit time and ideal growing conditions."
India is one of the world’s largest banana producing countries with the majority of its production consumed by the domestic market. As part of the agreement, Fresh Del Monte Produce will provide technical assistance to Rise n’ Shine and its production sources. The first shipment of Del Monte branded bananas is scheduled for export to the Middle East in June.