Chiquita Brands International has announced regional information on banana prices and volume for the first two months of the 2004 fourth quarter.
In the company's core European markets, which include the 25 countries of the European Union, Norway, Iceland and Switzerland, Chiquita's average banana prices rose 13 per cent on a US dollar basis in the first two months of the 2004 fourth quarter, compared to the same period a year ago. On a local currency basis, prices in those same markets rose five per cent from a year ago.
The volume of bananas the company sold in its core European markets rose one per cent overall in the first two months of the quarter, compared to the same period a year ago, even though volume fell 16 per cent in the 10 new EU countries, reflecting the impact of the new quota system implemented in May 2004.
In Chiquita's trading markets in other European and Mediterranean countries, average banana prices rose 30 per cent on a US dollar basis and 20 per cent on a local currency basis from a year ago. Volume sold in these countries fell 51 per cent.
In North America, banana volume rose 9 per cent in the first two months of the fourth quarter compared to the year-ago period. New business from several major retailers fueled the volume increase year over year. The company's average banana prices in North America fell two per cent in the first two months of the quarter versus the same period last year.
In Asia, where the company primarily operates through joint ventures, the volume of bananas the company sold in the first two months of the fourth quarter rose six per cent from the same period a year ago as the company continued its growth in the region. Banana prices in Asia fell one per cent on a US dollar basis in the first two months of the 2004 fourth quarter, compared to a year ago, while prices in local currency fell three per cent.
No comments yet