Banana giant Chiquita has revealed that prices for the fruit in its core European markets were down one per cent year on year on a local currency basis for the first quarter of 2007.

In a statement of its interim price and volume data for the second quarter of 2007, the company said this downturn in price reflects the continued impact of EU regulatory changes implemented on January 1, 2006, which have resulted in an increase in industry volume and price competition.

Chiquita said that volume sold in Europe decreased by four per cent, due to the company’s “strategic determination to focus on profitable volume and maintain its premium position in these markets”.

North American banana pricing was flat year over year, says Chiquita.

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