Costa Rican Workers March for Exchange Rate and Loss of Competitiveness

2024-05-17

Workers from productive and export sectors such as pineapple, coffee, banana, rice, and tourism are marching this Wednesday in downtown San José. They are protesting the impact of the appreciation of the colón against the dollar and the loss of competitiveness due to the exchange rate. The protesters are appealing to the Government of the Republic, the Central Bank of Costa Rica (BCCR), and the Legislative Assembly in a march that started from La Merced Park at around 9:10 a.m., passing by the BCCR building, the Ministry of Finance, and finally arriving at Democracy Square.

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Hapag-Lloyd Begins 2024 Strongly in First Quarter

2024-05-17

Hapag-Lloyd ended the first quarter of 2024 with a Group EBITDA of USD 942 million (EUR 868 million). Compared to the same quarter of the previous year, the Group EBIT decreased to USD 396 million (EUR 365 million) and the Group profit to USD 325 million (EUR 299 million). In the Liner Shipping segment, transport volumes for the first quarter of 2024 increased by 6.8 per cent to 3 million TEU (Q1 2023: 2.8 million TEU).

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Panama Canal Gradually Resuming Normal Operations

2024-05-17

Rising water levels in the Panama Canal have ignited optimism for a potential resumption of normal operations for container shipping following over a year of restrictions due to an intense drought. However, experts caution that while the situation is improving, it is still far from returning to pre-restriction conditions. From May 16 onwards, the Panama Canal Authority has increased the daily quota of ships permitted to transit the waterway from 24 to 31.

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SITRAIBANA and Chiquita Agree on New Collective Agreement for 4 Years

2024-05-10

With the mediation of the Ministry of Labor and Labor Development (Mitradel), the negotiation of the new Collective Convention between the Union of Workers of the Banana Agricultural Industry and Related Companies (SITRAIBANA) and Chiquita Panama ended.

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U.S. biotech company joins the fight against TR4

2024-05-10

Elo Life System, a biotechnology company based in North Carolina, United States, is working on the development of a genetically resistant variety of banana to the wilt caused by the Fusarium Tropical Race 4 -TR4-, the disease caused by the fungus Fusarium oxysporum f. sp. cubense (Foc).

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Market Overview – Week 19/24

2024-05-10

In week 19, banana selling prices in St. Petersburg hovered around USD 24.60 per box CIF. Factors such as brand, quality, volume, and type of packaging influenced these prices. Demand remained strong despite the extended holiday period from May 9th to 12th. Nearly 2.15 million boxes were discharged during the week and around 880.000 boxes are expected for week 20.The prevailing exchange rate was 1 USD = 91.82 RUB. The selling prices for Ecuadorean bananas in the Mediterranean ranged from USD 16.0 to 18.0 per box CIF, depending on the brand, volume, region, and type of packing. Central American fruit was priced around USD 2.20 less per box. In the Mersin Free Zone, the prices for re-exported bananas of Ecuadorean origin were approximately USD 16.0 to 18.50 per box. For Central American bananas, the prices were around USD 13.0 to 15.50 per box. Prices consolidated compared to the previous week due to a decrease in the available banana volumes. This was a result of the delay of a vessel from a line that regularly docks at the Turkish transit port. The prevailing exchange rate was 1 USD = 32.23 TL.

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India: Adverse weather affects banana industry

2024-05-10

In just four days, 186.000 banana plants in Erode fell due to wind. Officials have stated this is the most severe damage in the past decade. Farmers are appealing to the government to declare suitable compensation. A survey of banana trees damaged due to rain and strong winds from May 1 to 4 in 32 villages in Bhavanisagar, Sathyamangalam, and Thalavadi blocks concluded, revealing that 186.000 banana plants have been damaged, causing losses for 187 farmers. Moreover, the survey disclosed that 94,000 banana plants were destroyed in a single day, on May 4, in the Bhavanisagar block alone.

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The 'Machala Banana Time' event will be held on June 19 and 20

2024-05-10

The Association of Banana Exporters of Ecuador (AEBE) is pleased to announce the third annual edition of "Banana Time". This event, which will be held at the Hotel Oro Verde in Machala, aims to bring together the productive actors of the banana sector to discuss issues of common interest and promote the industry's sustainable development. "Banana Time" is a unique opportunity for producers, exporters, experts and university students to meet and exchange ideas, experiences and knowledge.

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Z.I.M. Extends Partnership with ArrowSpot

2024-05-10

Israeli shipping line Z.I.M. has renewed its partnership with ArrowSpot Systems Ltd., a fellow Israeli start-up that provides comprehensive cargo monitoring solutions for the global logistics industry. This extension builds upon the existing collaboration between the two companies, which includes operating a 24/7 control centre as a critical component of the ZIMonitor service. This service offers remote tracking, monitoring, and control for reefer containers.

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Kazakhstan: First Banana Crops Harvested in the Turkestan Region

2024-05-10

Kazakhstan is home to an expansive banana plantation where the locally adapted variety "anamuz" thrives in the Kazakh climate. Islam Aliyev led the greenhouse to house over 7,000 banana plants and successfully ripened approximately 1,000 tons of bananas. To ensure successful acclimatisation, 400 truckloads of compost were imported. Although the existing greenhouse spans only 5 hectares and fulfils a mere 1% of domestic demand, expansion plans are in progress.

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Hapag-Lloyd Adopts IQAX eBL for Digital Transformation of Bills of Lading

2024-05-10

IQAX Ltd., a Hong Kong-based innovative technology solutions provider for shipping and logistics, has announced that Hapag-Lloyd, one of the world's most significant container shipping lines, will adopt its IQAX eBL to issue electronic bills of lading (eBLs). Hapag-Lloyd has chosen to implement IQAX's industry-leading eBL solution to enhance customer service and expedite its transition towards 100% adoption of eBLs by 2030.

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ASPROCAN requests that 100% of the cost of transporting Canary Island bananas be covered

2024-05-10

Last year, banana production had an economic impact of more than 500 million euros on the Islands, which would be hindered without the agreed economic compensation. The Association of Canary Island Banana Producer Organizations (ASPROCAN) stated in a press release that an excellent opportunity is being missed by not accessing economic compensations for the export transportation costs of Canary Island bananas to mainland Spain.

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Standard Fruit lays off 412 people from banana farms in Limón.

2024-05-10

Standard Fruit Company, a subsidiary of Dole in Costa Rica, laid off 412 workers last weekend who worked on banana farms in the Caribbean province of Limón, as confirmed to the local press by Juan Carlos Rojas, the company's legal director. "Our company is trying to maintain its agricultural activity in the country due to the abrupt strengthening of the colon, the local currency, against the U.S. dollar.

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Europlátano Invests to Double Its Ripening Capacity

2024-05-10

Comprised of more than 670 farmers distributed among the islands of Tenerife, Hierro, and La Palma in the Canary Islands, S.A.T. Europlátano began construction on its new ripening warehouse in 2023, which it expects to have ready by the end of summer. Its managers have shared with Alimarket the investment this project has entailed and the benefits it will bring to their activity, among other matters.

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Fresh Del Monte Produce Inc. has released its Q1 results

2024-05-03

The company reported quarterly adjusted earnings of 34 cents per share for the quarter ending in March, which is lower than last year's EPS of 55 cents. Two analysts' mean expectation for the quarter was for earnings of 61 cents per share, with Wall Street expecting results to range from 60 cents to 61 cents per share. Revenue fell 1.8% to $1.11 billion from a year ago, with analysts expecting $1.15 billion. Fresh Del Monte Produce Inc.'s reported EPS for the quarter was 55 cents. The company reported a quarterly net income of $26.1 million.

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