Dole cuts back bananas

5 November 1999



Dole cuts back bananas

DOLE Foods is cutting back its banana operations in the face of a collapse in Russian demand and a combination of price and trade problems in Europe.

The group said it was aiming to reduce production by about 17%, which would entail ending operations in Nicaragua and Venezuela.

Dole will reduce its shipping fleet by seven vessels and consolidate sales and distribution units in Europe

Doles action mirrors others in the sector.

Fresh Del Monte has been looking to diversify because of the depressed prices, while Chiquita Brands has cut back its operations because of problems in Russia and Europe.

• Banana war takes toll on Dole, FWi, 21 September, 1999
• Banana campaigners turn the spotlight on Chiquita, FWi, 20 February, 1998
  
• Financial Times 05/11/99 page 34