Prime Minster On Banana Company Merger

Prime Minister Dr. Ralph Gonsalves said the merger of two of the world’s best-known banana brands – Fyffes and Chiquita – is not being perceived as a threat to the local banana industry.

The two companies are to merge in a deal that will create the world’s largest producer, shipping 16 billion bananas a year and generating 4.6 billion US dollars in sales.

Speaking in Parliament last week, Dr. Gonsalves said he does not believe the merger will pose a threat to WinFresh in the marketing of bananas and other agricultural commodities.

Dr. Gonsalves however noted that the merger of Fyffes and Chiquita is primarily a business-motivated venture, aimed at increasing profits.