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Bananas and pineapples will be getting more expensive

Fyffes says it’ll have to increase its sales prices as the cost of fruit and fuel goes up and while the euro weakens.

Image: robin_24 via Flickr

THE PRICE of bananas and pineapples in your local grocery shop might be rising in the coming months.

Ireland’s largest fruit importer, Fyffes, this morning said it was set to raise its selling prices in order to allow for the rising prices of fruit, as well as increased fuel costs which make it more expensive to bring the fruits into Ireland.

The falling value of the euro also meant that the company had to raise its prices to safeguard its profit margins.

“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,” it said this morning.

The release came as Fyffes reported a pre-tax profit of €22.4 million for the first six months of this year, up by €17.3 million on the same period of 2011.

Including its share in joint ventures, the group saw its total sales breach the €550 million barrier.

The group sells melons in North America as well as the bananas and pineapples it is better known for in this part of the world.

About the author:

Gavan Reilly

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