Banana producer Fyffes is anticipating a solid year in 2024, despite the challenges in the economic and climatic conditions. “Our investment in environment and social sustainability means we are poised to meet and exceed stakeholder and customer expectations, especially considering the evolving regulatory landscape in Europe,” says Helge Sparsoe, Fyffes Chief Executive Officer.
Organic banana harvesting at a Fyffes farm outside Guayaquil in Ecuador.
Investing in sustainability not only helps in meeting regulatory requirements but also aligns well with the broader societal and consumer trends towards eco-friendly and socially responsible practices states Sparsoe. “By focusing on these areas, Fyffes not only contributes to global well-being but also strengthens its position as a forward thinking and innovative company.”
The current market demand and trends for organic and Fairtrade in Europe and your other key markets have shifted since Covid. “We are seeing an increased focus on health and wellbeing since Covid. People want to incorporate more fresh fruit and vegetables into their meals and they want to avoid unnecessary waste or environmental impact. Growth at Fyffes comes from the increasing demand for produce that is grown responsibly, benefiting communities and the environment. It is well documented that the banana, our core product, is the perfect product. It is the only fruit with protein, it has a very low environmental impact, compared with meat or dairy and it provides an opportunity to create income in countries in Latin America and Africa,” explains Sparsoe.
Organic banana harvesting at a Fyffes farm outside Guayaquil in Ecuador.
Fyffes conducts consumer and market research in North America and Europe. Banana producers in South America are working hard to ensure that a fairer price must be paid to the benefit of all in the value chain, especially the producers and employees in the Tropics and also to get buyers to commit to the shared responsibility.
“Fyffes has conducted extensive market research in North America and Europe. The research tells us that consumers want to make ethical and sustainable purchases, they want to give back to the communities where their produce is grown and they are interested in brands that fulfill this promise. Our consumer insight work, which is very recent, tells us that consumers overestimate the price they pay for bananas and when they are told what they paid, they are willing to pay more to ensure the growers and workers have a better livelihood,” states Sparsoe.
A worker inspecting banana bunches at an organic banana farm of Fyffes outside Guayaquil in Ecuador.
The European Green Deal and other environmental and consumer legislation places an extra burden on producing countries. Fyffes has embraced the new legislation arising from the Green Deal says Sparsoe. “We were a founding signatory of the EU Code of Conduct on Responsible Food Business and Marketing Practices. Fyffes is the only company in its sector to have completed three years of human rights due diligence and published Human Rights Reports outlining our salient human rights risks and mitigation. We have the most ambitious Greenhouse Gas target in the sector, endorsed by the Science Based Target initiative to adhere to no more than a 1.5 degree rise in global temperatures as outlined in the Paris Climate Agreement. We have played a leadership role in Living Wages, providing solutions for retailers that want to contribute to closing the Living Wage gap. So the Green Deal for Fyffes is an opportunity rather than a challenge.”
Fyffes has a number of farms across Central America and Ecuador with a big focus on banana exports to Europe. About 11% of the Fairtrade bananas sold worldwide are organic bananas sold through Fyffes. This requires a huge and dedicated workforce. “The energy and dedication of our global workforce is crucial. Engaged and motivated employees are the key to driving positive change and achieving organisational goals. As we progress in 2024, maintaining strong engagement and involving employees in sustainability initiatives will further enhance the company’s success,” concludes Sparsoe.
Fyffes is going to be at Fruit Logistica in Berlin at Hall 5.2, stand A30.
For more information:
Pierre Terranova
Fyffes
Tel: +506 6467 8749
Email: [email protected]
www.fyffes.com