Fresh Del Monte BB #:111187 is expanding its crop portfolio as it continues to find innovative ways to optimize its assets (including underutilized land) amid global concerns over rising costs and global food shortages.
The vertically-integrated producer, distributor, and marketer of fruits and vegetables has entered into the row crop business – crops that will be grown on the company’s resting lands, in between its core crop seasons.
The company has already kicked off its row crop expansion project, starting in Guatemala with white corn, ready to be harvested in July 2022, and is currently evaluating its hundreds of hectares that go through resting periods for additional crop rotation opportunities.
“We as a company are large-scale farmers, and we’re also big on asset optimization and thinking outside the box when it comes to leveraging all our assets. Growing row crops is an excellent way for Fresh Del Monte to leverage its idle lands,” said Mohammad Abu-Ghazaleh, Fresh Del Monte’s Chairman and Chief Executive Officer.
“The benefits are multifold. Not only do we become a bigger part of the global food shortage solution, but we also better prepare our grounds for the following core seasons. We also generate an additional stream of income by producing short-rotation, row crops.”
Venturing into crops such as corn and sugarcane brings several advantages to Fresh Del Monte, including but not limited to:
• Economic profits to the company with the production of new crops
• Contributes to maintaining the biological balance between beneficial and harmful pests
• Crop rotation reduces the incidence of soil pests, creating a favorable environment for sustainable core crop production
• Optimizes available land while contributing to the world’s grain shortage
• Generate a source of employment with the production of alternate crops between core crop seasons (i.e., pineapple, banana, and melon)
