Chiquita Brands International has announced positive second-quarter results in Asia , the Pacific region and the Middle East, but faces a tough second haf to the year in its core European and North American markets.
Pricing in Asia-Pacific and Middle East markets rose 17 per centyear-on-year on a US dollar basis, the company reported earlier today, primarily due to supply constraintsand favourable currency exchange rates.
Volume sold in these regionsincreased by 25 per cent year-on-year due to weather-related and otherimprovements in farm productivity in the Philippines.
The company says it is expecting the second half of the yearto be 'challenging' as sales volumes in Europe and North America comeunder increasing pressure, with the third quarter set to beparticularly difficult.
No comments yet