Chiquita Brands International has ended a dispute with one of its key banana suppliers in Panama.
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The US-based produce giant said that it had reached an agreement with the Coosemupar co-operative, its supplier on the Pacific side of the Central American country.
Coosemupar had demanded a higher price for its fruit following a period of financial difficulty, a Chiquita spokesman told just-food today (7 December).
However, following the intervention of the Panamanian government, the two sides reached an agreement.
Chiquita will pay an “improved” price per box, while Coosemupar has also won the right to supply other parties with excess fruit not bought by the company.
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By GlobalData“It was a mutually satisfying resolution to the situation,” the spokesman said.
Panama accounts for some 18% of Chiquita’s Latin American banana supplies. The Coosemupar co-operative makes up 5% of the company’s banana supplies from the region.
