Citronex is Developing a Business in Romania with Tomato Investments

2023-02-06

The Polish company Citronex, one of the largest importers and distributors of bananas in Europe, is developing their activities in Romania. The investment of a 50Ha greenhouse for tomato production was confirmed on January 17th by local authorities in Dumbrăveni, Sibiu County. "The investment will be made in several stages. The first 10 ha of a greenhouse will cost approximately 25 million euros and generate 120 jobs.

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India: AI and High-Tech to Increase Banana Exports

2023-01-06

A small working group would be formed to promote the export of Indian bananas, mainly traditional varieties and value-added fruit products, said M. Angamuthu, Chairman of the Agricultural and Processed Food Products Export Development Authority (APEDA). India was the largest producer of bananas in the world, yet it had a negligible share in the global banana trade and exported the fruit to just about 15 countries. Banana export could be increased by reaching out to the United States and European countries.

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CMA CGM Completes Russia Exit

2023-01-06

The company said that French-based shipping group CMA CGM had completed its withdrawal from the Russian market by divesting stakes in terminals through an asset swap. "With this finalized transaction and the decision to suspend all new bookings to and from Russia since March 1, 2022, the CMA CGM Group will no longer be involved in any entities operating in Russia," it said in an emailed statement.

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Ecuador Signs FTA with China

2023-01-06

Ecuadorian President Guillermo Lasso announced on January 3 that he had "successfully concluded" the FTA with China, an agreement that will allow Ecuadorian "industries" to "acquire machinery and inputs at lower costs." The negotiation with Ecuador's second trading partner lasted ten months, and now they are working to sign one with the United States. The treaty with Beijing will represent an increase of up to 20% in national exports to the Chinese market.

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Older Reefer Vessels May Fall Short in Compliance with New Pollution Rules

2023-01-06

Conventional reefer ships that played a critical role in shipping perishables during the pandemic could be forced into retirement by new International Maritime Organization (IMO) pollution regulations. Dutch consultancy Dynamar says the carbon intensity indicator (CII) and energy efficiency of existing ships (EEXI) rules will force the ageing conventional fleet to slow to speeds that won't meet market requirements for perishable goods.

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Market Overview – week 51/2022

2022-12-23

Banana selling prices in Russia were USD 18.00-18.75 per box CIF. Demand for the fruit was weak, and large volumes of bananas were available in the market. Nearly 700,000 boxes were discharged in week 51, and around 2.08 million are expected for week 52. The exchange rate of USD/RUB was 1 USD=72.13 RUBLE. The year-over-year inflation rate in Russia was measured at 12.6 percent for the week ending December 12, 2022, up from 12.5 percent in the previous week.

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CMA-CGM Argentina Sets Record In DP World Posorja

2022-12-23

While the grand final of the World Cup was taking place between Argentina and France, the "CMA CGM Argentina" docked at the D.P. World port of Guayaquil in Posorja, the vessel with the largest capacity and dimension that has ever arrived in Ecuador, thus breaking a new record. This container ship, built in 2019, has a capacity of more than 15,000 TEUs and a length of 366 meters.

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Banana Labels Reveal Important Information

2022-12-23

Stickers on the peel of bananas are something that most people don't look at. In addition to the possible name of the producer, the declaration should also include a number that reveals essential information about the way the fruit was grown. Statements primarily refer to fruit imported from abroad, and this is the meaning of those numbers:

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FWI: New Varieties of Bananas to Sustain the Sector

2022-12-16

They are called 964, 965 or 966: the Tropical Technical Institute (IT2) has developed new varieties of bananas intended to be more resistant to natural hazards to sustainably strengthen the sector in Guadeloupe, which has been undermined by numerous diseases. "It is for us to perpetuate the sector", explains to AFP Jean-Louis Butel, whose exploitation found in Saint-Sauveur (Guadeloupe) welcomes a few hundred feet of these new varieties.

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Fake ‘Jamaican Bananas’ found on Canadian store shelves

2022-12-16

JP Farms, the leading commercial banana farmer in Jamaica, has declared that it will pursue legal action against fraudsters in Canada who have distorted its brand by selling bananas with counterfeit JP branding. Jamaica Gleaner said that JP Farms wants “Jamaican bananas” wearing counterfeit JP branding removed from the Canadian market as soon as feasible.

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CARB Claims Ocean-Going Vessel Rules On Track Amid Industry Pushback

2022-12-08

California air officials are claiming that sweeping new rules to reduce pollution from ocean-going vessels (OGVs) at berth are on track for implementation and enforcement, despite ongoing industry complaints that key elements are not in place and equipment needed to electrify ship power at port is not available to enable compliance.

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  • MACFRUT2023 - Fruit & Veg Professional Show 3 - 4 - 5 May 2023 Rimini - Expo Centre

MARKET OVERVIEW – WEEK 44 / 2022 – Since October 31 to November 06 / 2022

2022-12-02

Banana selling prices in St. Petersburg ranged from USD 22.50 to USD 24.10 per box CIF. Around 1.92 million boxes were discharged in week 44, and 2.03 million are expected for week 45. November 4 was Unity Day -also called Day of People's Unity -, a public holiday in the Russian Federation. The exchange rate between the USD and the Ruble was almost the same as the previous week,1 USD=61.62 Ruble.

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Major Shipping Lines Will Pass on Cost of Compliance with E.U.'s New Emission Rules

2022-11-25

The major shipping lines say they will pass on the extra costs of compliance with the forthcoming European Union Emissions Trading System (ETS). Alliance partners Maersk Line and MSC have said they would pass on the total cost to customers, estimating this at €90 per tonne of CO2. "We would envisage adding the cost on our Far East to North Europe trade of €69 ($70.80) per teu for dry containers and €208 ($213.55) per feu for reefer containers. North Europe to Asia, the cost would be €37 per dry teu and €110 per reefer feu," said MSC.

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Maersk and Carbon Sink Sign Strategic Partnership

2022-11-25

As part of the strategy to decarbonize its customers' supply chains, A.P. Moller - Maersk (Maersk) has entered a green* methanol partnership with U.S.-based project developer Carbon Sink LLC. It is Maersk's 8th such agreement in the efforts to accelerate global production of green methanol. The parties have signed a Letter of Intent covering the development by Carbon Sink of green methanol production facilities in the United States.

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Transactions in connection with share buy-back program

2022-11-21

On 5 May 2021, A.P. Møller - Mærsk A/S (the “Company”) announced a share buy-back program of up to DKK 32bn (around USD 5bn) to be executed over a period of two years. On 12 August 2022 the Company announced an increase in the current share buy-back program from DKK 32bn (around USD 5bn) to DKK 39.3bn (around USD 6bn).

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