Nicaragua will increase its production of bananas generating eight million annual cases by implementing a project promoted by the Coen group in Chinandega, where they'll plant 1,500 hectares of the fruit.
The country currently produces two million boxes of bananas a year, one of the lowest volumes in Central America, but they'll reach the eight million cases once the Coen Group's project is completely working.
Piero Coen Montealegre, founder and president of the Coen Group said that the first export is expected, at the latest, by February 8, 2014, adding that the initiative will generate 7,000 jobs.
"They will be permanent jobs throughout the year, with higher wages than those paid by any agricultural branch in the country. The average salary is quite higher than that paid in the sugarcane plantations," said Coen Montealegre.
Currently, 400 people are working on the project and there are 240,000 plants, which will be sown in the coming weeks, in stock at the nurseries.
Coen Montealegre said that banana plantations were much more profitable than sugarcane plantations.
"The difference between the two crops is the same as there is between playing baseball in Nicaragua and playing in the major leagues - the Banana is more profitable. The investment is much higher, but the gain is also much higher. If we produce 5,000 boxes per hectare, we can expect more than $1,000 dollars in profit per hectare," said Coen Montealegre.
Nicaragua produces about two million boxes of bananas a year, but, thanks to the new project, will reach eight million boxes a year, said Coen Montealegre.
CETREX, the Center for Export, said in a report that Nicaragua had exported 9.3 million kilograms of bananas, with a value of US$ 2.5 million, last year.
According to CETREX, Nicaragua's banana exports have amounted to US $1 million between January and July this year.
According to Coen, Nicaragua is far from the production levels of Guatemala, Costa Rica or Honduras, which generate between 60 million and 107 million boxes of bananas a year.
"There should be a plan here to help us sow 20,000 hectares of banana, with that 30,000 people would work in the fields and more than 100,000 people in the sector would depend on it," said Coen.
Coen reported that the banana production would be exported mainly to the United States.
"Due to the ports, it's easier for us to send our products via Honduras, who make shipments to the US but not to Europe. Puerto Colon, in Costa Rica, sends shipments to Europe, but the port is too far away for us to use it," said Coen.
Source: Elnuevodiario.com.ni