Two Brazilian apple companies form core producer
Renar recently restructured its focus to integrate Pomifrai's operations into the company, resulting in reduced production costs and debt re-negotiations, the story reported.
The story claimed the restructure reduced Pomifrai's annual production costs by US$5.46 million (BRL$9 million), while the fusion of the two companies should save around US$2.9 million (R$4.8 million).
Pomifrai is already one of Brazil's core apple producers and accounts for 5% of national production
Renar commercial director Marcelo Holtz told the newspaper the reduction in domestic production of around 15% will likely lead to price recovery for the industry, as harvests began.
Brazil was the world's 12th largest apple producer in 2008 with a volume of 1.12 million metric tons (MT), according to the Food and Agriculture Organization of the United Nations (FAO).