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Showing posts from October 27, 2014

Peru: "Mango exports in 2014-2015 won't amount to 100,000 tons"

APEM CEO, Juan Carlos Rivero

According to Juan Carlos Rivero, CEO of the Peruvian Association of Mango Producers and Exporters (APEM), mango exports in the 2014/2015 campaign will amount to less than 100,000 tons. In the previous year (2013/2014) they totalled 136,000 tons.

He said this lower production was due to an alternation in yields, in which one year the production was good and the next one it was bad. 

Moreover, he added, the warm weather during winter on the north coast had prevented the plants from flowering more.

"I think this season, which starts in late November year and ends in late March 2015, mango shipments will be similar to those recorded during the 2012/2013 campaign, which amounted to 97,000 tonnes," he said.

In this regard, he stressed that this lower production of mangoes will have no negative trade effects. 

On the contrary, he said, "prices are expected to be better for the fruit because there will be a smaller supply."

A quality manual for th…

New Harmonized System Standards to Enter into Force on 1 January 2017

October 27, 2014 - The World Customs Organization (WCO) Council, at its 123rd/124th Sessions in June 2014, adopted a Recommendation that lists recommended amendments to the Harmonized System (HS) nomenclature which will enter into force on 1 January 2017 (HS 2017). 

This Recommendation is being promulgated under the provisions of Article 16 of the HS Convention, which implies that HS Contracting Parties now have six months to notify the WCO Secretariat of an objection to a recommended amendment.

Since the entry into force of the current version of the HS (HS 2012), the HS Committee has been revising this version of the HS nomenclature for almost five years. HS 2017 will be the sixth version of the HS since the Convention entered into force in 1983. HS 2017 will enter into force for all HS Contracting Parties, but will exclude any amendments objected to during the six month time frame.

The new version of the HS includes 234 sets of amendments. Environmental and social issues are a major f…

US: Mango imports steady, prices up slightly

Supplies of mangos from South America have roughly kept pace with imports from the previous season, but prices are slightly higher than those for the same time last year.

As of October 11, 4.05 million boxes of mangos had arrived from Brazil this season. That's less than the 4.70 million boxes that had arrived by that point in the season last year. But the shipments made during the week ending on October 11 totaled 687,456 boxes, which is higher than the 432,432 boxes that arrived during the same week last year. 

Brazilian imports are expected to last through mid-November, and it's estimated that 5.50 million boxes of mangos will arrive from Brazil this season.

Prices for a box of Tommy Atkins mangos reached $10.13 per box at the Philadelphia entry port on the week ending on October 11, 2014. That's a jump of six percent over the previous week's price, and it's $3.50 more per box than the price for a box of Tommy Atkins mangos on the same week last season. 

Prices rema…

NEVER BET AGAINST A BRAZILIAN WITH DEEP POCKETS : Cutral-Safra acquires Chiquita Brands "Lock, Stock & Barrel" ...

Chiquita's $1.3 billion merger with Cutrale-Safra

October 27, 2014

Chiquita Brands International Inc. and the Cutrale-Safra group announced a definitive merger agreement under which Cutrale-Safra will acquire all outstanding common shares of Chiquita for $14.50 per share in cash — approximately $1.3 billion, including the assumption of Chiquita’s net debt. 

The transaction is expected to close by the end of 2014 or early 2015, at which point Chiquita will become a wholly owned subsidiary of the Cutrale-Safra group. It will remain incorporated in New Jersey.

In early March, Chiquita announced a merger with Ireland-based Fyffes; however, Cutrale-Safra entered the conversation in August, when the pair of companies contacted Chiquita with an unsolicited $611 million buyout. That offer, as well as a second made by Cutrale-Safra, was rejcted. 

Executives at Chiquita were in favor of the Fyffes deal as recently as the morning of Friday, Oct. 24, when Kerrii B. Anderson, chairwoman of the Chiq…