20140812 - bananas is such a big (and difficult) business
Why selling bananas is such a big (and difficult) business With Florida-based juice maker Cutrale Group trying to break up the merger between Fyffes and Chiquita, why is everyone suddenly so hungry for bananas? Photo: AFP By Ben Wright 1:20PM BST 12 Aug 2014 The merger between banana heavyweights Fyffes and Chiquita Brands hit the skids (sorry) early this week after Florida-based juice maker Cutrale Group and Brazilian investment firm Safra made a rival bid for Chiquita. So why is everyone suddenly so hungry for bananas? Selling the bendy fruit is big business. The banana market is worth $7bn a year, according to Barron’s, with over 100 billion bananas eaten around the world. This makes bananas the fourth most important agricultural product behind such staples as wheat, rice and corn. If Chiquita and Fyffes were to merge, the combined company would control 14pc of the market. Banana brands have often been ahead of the curve with t...
Comments
Post a Comment