The Ivory Coast: Compagnie Fruitière plans banana investment

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President Robert Fabre announced that his company planned investment in the Ivory Coast that would double the country’s annual banana exports to 500K MT.

Compagnie Fruitière already accounts for the majority of the Ivory Coast’s banana exports. The balance is shipped through OCAB (Ivoran Exporters of Bananas and Pineapple) members. Mr Fabre said his company is also planning an agricultural infrastructure project in the north of the country away from the coast that would reduce the West African nation’s dependence on imported vegetables. The increase in duty free West African banana production for exports is a threat to the Dollar bloc in general and Ecuador in particular. Bananas from the Ivory Coast are targeted at the zero-sum EU market, where they have a logistical and duty cost advantage over fruit from Latin America. Specialised reefer owner/operator Star Reefers is to both lengthen its C Class vessels and add box capacity in order to meet higher volume requirements on the West Africa to Europe trade.

Source: Reefer Trends