Fresh Del Monte announces banana, pineapple price increases
Fresh Del Monte Produce Inc. announced to customers it is raising prices on bananas (including organics and plantains), pineapples and fresh-cut fruit effective Nov. 1, 2021.
The move comes in response to unprecedented market conditions and inflationary pressures being felt across all industries, affecting the company, particularly as it relates to production and supply chain.
"Despite our efforts to mitigate these increasing costs within our supply chain, they are simply too great to absorb. The unparalleled costs have been persistent and show no signs of regulating," Mohammad Abu-Ghazaleh, Fresh Del Monte Chairman and CEO said.
"After thoughtful consideration, it is necessary to implement inflation-justified price increases in an effort to maintain our continuous supply and service levels."
"We understand that these pressures are not unique to our business and therefore are working collaboratively to mitigate these pressures - within our supply chain and with our business partner relationships."
As the company makes the near-term decision to increase prices on its products, Fresh Del Monte is continuing to proactively work on its long-term growth strategy focused on innovation, efficiency and further leveraging its vertical integration to boost productivity and further strengthen the company's position.