Del Monte has teamed up with Queensland University of Technology (QUT) in Australia to develop sustainable disease-resistant bananas. The main focus will be on breeding varieties with resistance to Tropical Race 4, a fungus that has blighted the world’s banana crops over the past decade. Del Monte’s involvement in this research is aimed at ensuring the industry’s long-term sustainability and overcoming the main challenges.
Del Monte and Australian university research disease-resistant bananas
This summer, DEL MONTE EUROPE is bringing the passion back to the fans with its “Fruitball” Cup!
Monaco, June 27, 2020 – In a year where many sports events have been canceled, to the deepest regrets of fans, Del Monte Europe is aiming to reignite the passion by launching its own “Del Monte Fruitball Cup 2020”. The interactive competition will take place on Del Monte Europe Facebook and Instagram pages, and the fans of the most delicious fresh and preserved fruits as well as sport amateurs will be able to join the fun.
Value of Del Monte shares drop amid Salmonella outbreak
Shares in Fresh Del Monte Produce dropped 4.64% in value following the launch of an FDA investigation into salmonella in the firm’s vegetable trays. The FDA announced that five people became ill with salmonella after consuming Fresh Del Monte Produce. The Wisconsin Department of Health Services linked Del Monte to an outbreak of salmonellosis after inspecting one of the firm’s facilities that produce these vegetable trays.
Drop in Del Monte’s pineapple sales in first quarter of 2019
Del Monte reported a 9% fall in its worldwide pineapple sales volumes during the first quarter of 2019. The fall is mainly due to lower volumes in North America and Europe, stemming from lower production in Costa Rica. In partial recompense, the firm recorded higher sales in Asia, while unit sales prices were also up in North America and the Middle East. Other contributing factors to the downturn are unfavourable exchange rates, higher ocean freight costs in all regions.
Fresh Del Monte reports US$21.9 million loss
Fresh Del Monte Produce has posted a net loss of US$21.9 million in the 2018 financial year. This announcement follows a strong year in 2017, when the company made a net profit of US$120.8 million. The company says the loss is mainly on account of higher fruit and distribution costs and lower banana sales. Although net sales actually climbed 10% to US$4.49 billion, gross profit fell 16% to US$279.8 million. The company said the rise in net sales was driven by its other fresh and prepared food business segments, following the purchase of Mann Packing Company.
Del Monte focus on Russia, a promising and challenging market
Russia is a market full of opportunities, it’s actually the 8th largest grocery market globally, but it’s also a challenging one! That´s why Del Monte’s Vice-President, Mohammed Abbas, said: “Our focus is Modern retail, a segment that represents 70 % of the market, 24 % of it belonging to top 5 retailers*. By addressing this key target, not only does Del Monte reduce the risk by working with insured companies, but it benefits from a good brand exposure with its end consumers.”
Foul weather dampens Del Monte’s Q1 profit
Fresh Del Monte Produce Inc has cited higher banana procurement costs, lower pineapple yields, and tomato and grape quality issues – caused by adverse weather – as factors which reduced its first quarter earnings.
The Florida-based fresh produce multinational reported on Monday that its gross profit was $100.4 million and operating income $56.3 million in the quarter to March 27, down from $106.7 million and $65.2 million respectively in the first quarter of 2014.