Tropical fruit prices going bananas

Fyffes, the world's oldest fruit brand, reports a profit jump but warns bananas and pineapples are becoming more expensive.

Last Updated: 09 Oct 2013

Tropical fruit company Fyffes may have reported a healthy set of results this morning, but the announcement came with a warning: the prices of bananas and pineapples are likely to rise.

Rising fuel costs and adverse exchange rates are main reasons for the rise in fruit prices. Dublin-based company Fyffes said the price of fuel used in its ships had risen 20%. But it didn't cause that much of a bruise - Fyffes reported a pre-tax profit of 22.4m euros (£17.7m) in the first half of the year, up nearly 30% compared to last year.

'The group continues to pursue necessary increases in selling prices in all markets to offset the impact of adverse exchange rate movements and the higher cost of fuel and fruit,' the company said.

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