How low can she go? These guys need to move up
their earnings release to restore some confidence. Does
anyone have good info on pineapple prices and whether or
not DOL has a sweet variety ready for the market?
Looks like the FDP boys are going to make a big
play into the fresh cut fruit business.
comparable business to fresh cut fruit is the fresh cut
salad business. The fresh cut salad business is a $1
billion industry right now.
Fruit consumption is
higher than vegetable.
Smart move FDP.
October 28, 1999
Caribbean to seek US support
in banana trade issues
�PORT OF SPAIN, Trinidad
(Reuters) - Caribbean officials plan to meet with U.S.
Trade Representative Charlene Barshefsky over the
coming weeks to get support for a proposed quota and
licensing system for the export of bananas to Europe.
Dominica's Prime Minister Edison James, who has
responsibility within the Caribbean Community for the export of
bananas to Europe, said he is confident the meeting will
lead to a formal proposal from the Europe Union to the
WorldTrade organization ministerial meeting in Seattle in
December.� "The Americans are agreeable but they don't want
to be associated with the proposal on paper," he
told reporters in Port of Spain while attending a
special Caricom meeting this week. "But we propose to
engage the U.S. trade department at the level of the
U.S. trade representative and circulate to all
concern, what we have arrived at and give the EU
commissioners confidence."� He said the EU was unwilling to
support a proposal which may then be challenged by the
United States.� The United States imposed $191 million
of sanctions on EU exports earlier this year after
the WTO ruled the bloc's current import system
favored former colonies in the Caribbean over Latin
American growers and U.S. marketing giants such as
Chiquita and Dole Food.
� Describing the proposed
system as being "WTO compliant," James said it involved,
"2.253 tonnes of banana which carry a tariff of 75 Euros
per tonne; an ACP quota of between 810-870 tonnes
which would provide duty fee access for traditional ACP
producers."� He said the proposal would be available to
non-ACP producers at a tariff of 150 Euros per
� "It is true to say that we all see this tariff
quota as the first choice in a negotiated arrangement
but bearing in mind as it now stands, a tariff-only
arrangement would unequivocally be WTO compatible.� "But if a
tariff quota with proper licensing system can be
negotiated, we can moved forward with that," he said.� James
said he hopes the matter can be settled by
mid-November as the EU commission is under pressure to submit
a proposal to the WTO
FDP outside shareholders with at least 1mm
State of Wisconsin 2.9mm 5.4%
Morgan/Miller Ander. 1.5mm
Capital Guardian 1.4mm 2.6%
Bernstein Asset Mgmt 1.4mm
Strong Capital 1.0mm 1.9%
These are holdings as
of 6/30, except Bernstein which is 9/30. These guys
represent a little less than 2/3 of the 30%.
I'm looking at E*trade and they
are saying that the institutions (84) hold 30% or
16M. Any way to tell what the individual holdings are?
They don't list the major insider holdings either just
their trades which haven't occured.
If FDP were to initiate a buyback program, they
might as well take the company private. They have poor
float as it is. Any reduction in shares in the hands of
outside investors will further reduce float.
By the way, let me correct one of your facts. CQB
does not produce fruit in Ecuador. The buy from
independents (like ReyBanPac) on an as needed basis. In the
past, CQB only sourced during the high season, Feb.
through May. CQB has always come back to Ecuador in order
to pick up volume to meet seasonal needs and pays a
steep premium due to their unpredictable purchasing