Merger Of Banana Companies Fyffes And Chiquita
Minister of Agriculture Saboto Ceasar has welcomed the announcement of the recent merger of the Irish
Fruit Firm Fyffes and US rival Chiquita.
The new firm, named Chiquita Fyffes is now the world’s largest Banana Company, is expected to sell an average of 160 million boxes of bananas annually.
Minister Caesar spoke of the issue last Thursday after making payments to the arrowroot farmers in orange hill.
The Minister disclosed that St. Vincent and the Grenadines is currently focusing on regional exports and will soon take advantage of this new joint venture.
The Companies hope to complete the deal before the end of this year, although it requires approval from United States and European Union authorities, the High Court in Dublin and both sets of shareholders.