Prime Minister Dr. Ralph Gonsalves said the merger of two of the world’s best-known banana brands – Fyffes and Chiquita – is not being perceived as a threat to the local banana industry.
The two companies are to merge in a deal that will create the world’s largest producer, shipping 16 billion bananas a year and generating 4.6 billion US dollars in sales.
Speaking in Parliament last week, Dr. Gonsalves said he does not believe the merger will pose a threat to WinFresh in the marketing of bananas and other agricultural commodities.
Dr. Gonsalves however noted that the merger of Fyffes and Chiquita is primarily a business-motivated venture, aimed at increasing profits.
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