Chiquita sees better banana business in fourth quarter

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Banana prices were up across the board in Chiquita Brands International's fourth quarter, the company said Tuesday.

Growth has also picked up for the packaged salads category, which was impacted by an E. coli scare last year.

North American banana pricing was up 8 percent, and volume was up 1 percent over the quarter, Chiquita said in a news release. Pricing in core European markets rose 22 percent in U.S. dollars and 8 percent on a local currency basis, and volume fell 7 percent. In the Asia Pacific, pricing rose 4 percent and volume fell 9 percent, and in trading markets, including countries that don't belong to the European Union, pricing was up 2 percent and volume fell 57 percent.

In the company's Salads and Healthy Snacks segment, the net revenue per case was up 1 percent, while volume grew 11 percent over the quarter.

Fernando Aguirre, chairman and CEO, said the company was pleased with the performance in both segments. "At the same time, industry costs, particularly from fuel and purchased raw products, continue to pressure our margins," he said in the release.

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