Prime Minister And Supermarket Mergers

Prime Minister Dr. Ralph Gonsalves said there are opportunities to be exploited by this country in the recent merger of two of the world’s best-known banana brands – Fyffes and Chiquita.

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 at the recent sitting of Parliament, Dr. Gonsalves said purchasers for large supermarket chains are expected to continue to maintain good business relations with producers like St. Vincent and the Grenadines to avoid monopolizing the market.

Dr. Gonsalves however noted that it may be necessary for small producers like St. Vincent and the Grenadines to form strategic alliances in order to benefit from these opportunities.