Panama: 5,000 Hectares of Banana Plantations Sold for $40 million

Without disclosing the company concerned, the Minister of Agricultural Development, Emilio Kieswetter said that they are involved in cultivating banana, pineapple and citrus fruit and palm oil.

"Kieswetter said that with these crops, they expect that about 2.000 jobs will be generated, which will benefit the families left jobless after the liquidation of the Multiple Services Cooperative of Puerto Armuelles RL", said an article in Prensa.com

He also added that they are awaiting the confirmation of some legal aspects before the consortium can begin operations.

Source: Prensa.com

More on this topic

Panama: Banana Agreement with Fresh Del Monte

April 2009

IPACOOP selected the offer of $54 million by Del Monte for the rental of 3 thousand hectares from the COOSEMUPAR banana company for 25 years.

With the decision of the Panamanian Autonomous Cooperative Institute (IPACOOP), negotiations for an agreement between cooperative COOSEMUPAR and Del Monte for the rental of the banana plantations will begin.

Loans for Palm Oil in Panama

February 2012

Producers are taking out loans in order to expand plantations and production of palm oil in Chiriqui.

The Corozo and Palmetto Cooperative (Copal), Baru district, province of Chiriqui, which owns about 1,250 acres, has obtained a loan of close to one million dollars in order to finance part of the extension of cultivated land.

Authorities Propose Mixed Company to Run Coosemupar

January 2010

The Agriculture Ministry of Panama proposed the creation of a mixed public-private to run the banana plantations in Barú.

Both the Government and the interested company would invest $20 million.

"Roberto Santamaría, national Banana director, commented they are negotiating with several transnational corporations who are interested in the project.

Guatemala: More Palm Oil Plantations

August 2011

Palm oil plantation areas in the country are increasing at an average rate of 8,000 hectares per year.

In an area of 90 hectares, farms are currently producing 140,000 metric tons of oil, of which 100,000 are exported to Mexico and Central America and the rest is consumed in the local market. In 2010, exports totaled $125.7 million.