Fresh Del Monte Produce intends to move its pineapple operations from Hawaii by 2008. The company, which has produced pineapple in Hawaii since 1916, said in a statement that it intends to relocate in order to cut costs.

“It would be cheaper for Del Monte to buy pineapples on the open market than for the company to grow, market and distribute Hawaiian pineapple,” the company said.

In the statement, Del Monte suggested that there had been difficulties in obtaining a long-term lease extension with landowner Campbell Estate. However, Dow Jones reports, Bert Hatton, Campbell Estate vice president, said that Del Monte had been offered, and declined, an extension. Campbell had offered to sell the land in three separate proposals, all of which were rejected.