Hyper, I've never tracked the price of oil against CQB, so I don't know if there is a strong correlation. I'm wondering, though, why the two would be tied. Have you actually charted these and found them to move in tandem? It would seem to me that because 1) CQB hedges bunker fuel, and 2) there are fuel cost surcharges passed along to customers, that the price of oil would not have a strong influence on CQB's profitability. In fact, depending on hedges, I could imagine a dramatic change in the price of oil as cutting either way, depending on what positions they've taken.
My sense, FWIW, is that the more significants determinants (not in order) of CQB profitability in any quarter are: 1) banana pricing in the markets where they operate, 2) exchange rates, 3) sales volumes of bagged lettuce, 4) success of new product introductions, 5) availability of source product (often weather dependent), 6) cost control, including litigation, and 7) pricing of source product, including the impact of tariffs