Panama: renaissance of the Puerto Armuelles banana zone taking shape.

  • Published on 16/01/2018 - Published by Market News Service / FruiTrop
  • FruiTrop n°253 , Page From 2 to 2
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The Panamanian government has embarked on a vast lease programme of approximately 1 800 hectares of agricultural land belonging to 1 600 owners in Chiriqui province. This operation is the first step in the revitalisation of the Puerto Armuelles banana zone. These lands, as well as just over 4 000 hectares belonging to the State, will be leased/sub-leased for a twenty-year renewable term to Del Monte (represented by its subsidiary “Banapiña”). The multinational is committed to investing 100 million USD over seven years to boost banana activity in this historic production centre, involving at least 900 ha per year. This should create 3 100 direct jobs and 12 000 indirect jobs. According to the initial project schedule, the first fruits should be delivered in late 2018. Eventually, Cavendish production should reach 200 000 t, taking the country’s export potential to approximately 500 000 t.

Sources: EFE, Reefer Trends

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