Fyffes has confidently predicted that it will be the direct producer of 50 per cent of the pineapples it markets by 2010 following the purchase of a 450ha plantation in Panama.
In a statement, the Ireland-based fresh produce company said it had sealed the purchase of the plantation and related production assets from Agroindustries Golden West SA (GOPA) in Panama for an estimated US$8m.
Combined with its existing pineapple farms in Costa Rica, Fyffes said that it expected to be the direct producer of approximately half of all the pineapples in markets by 2010.
Fyffes chairman David McCann said: “This acquisition is an important step in increasing and securing the supply and quality of our Fyffes Gold pineapples.
“The further integration of production, shipping and marketing is a positive development for Fyffes and its customers.”
