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Amid a global banana crisis, Puerto Rico s abundant biodiversity offers a taste of hope
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Fresh Del Monte Produce Inc. Reports First Quarter 2021 Financial Results
May 5, 2021 GMT
CORAL GABLES, Fla. (BUSINESS WIRE) May 5, 2021
Fresh Del Monte Produce Inc. (NYSE: FDP), (“Fresh Del Monte” or the “Company”) today reported financial results for the first quarter ended April 2, 2021.
Financial highlights for the first quarter of 2021:
Gross profit was $105.0 million for the first quarter of 2021, which represents an increase of 53%, compared with the prior year period, and gross profit margin increased to 10% in the first quarter of 2021, compared with 6% in the prior year period;
Now imagine the tree is dying from an incurable disease.
Actually, with some poetic license,
that is the case.
Bananas have seeds, and that is how they grow in the wild. But cultivated varieties are propagated by cuttings, a process sometimes called suckering. They are genetically the same plant, vast plantations of cutting clones of a single ortet.
The primary cultivated variety of banana, and really the only one sold in North America, is the Cavendish. And it is sick.
Yes, we have no bananas
Before the rise of Cavendish, the non-tropical Western world ate Gros Michel, a banana brought from Malaysia to the Caribbean in the late 18th Century.
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