“We believe in our products,” Mark continues. “With the expansion of our offering, the company can better absorb seasonal fluctuations. It will also supply a year-round and consistent pattern. The three profitable exotics are a “natural addition” to the range.” The British company was founded in 2012, and is still early in its growth curve. “We still have to do a lot of work, and are being careful in our diversification.” Europe, China and Korea are important sales markets for the products. “We sell per container, and per pallet through Rotterdam.”
Mark O’Sullivan, managing director of BanaBay.
Limes, mangoes and avocados
The Persian limes are imported from the Dominican Republic, Peru, Brazil and Mexico. For the mangoes there is a choice of Kent, Tommy and Keitt from Ecuador, Mexico, the Dominican Republic, Costa Rica, Peru and Colombia. BanaBay works with cultivators in the Dominican Republic, Colombia and Mexico for the supply of their increasingly popular avocados. Semil 34, Hass and Carla are the three varieties that can be supplied by BanaBay.
“We do everything within our team,” Mark explains. “That leaves its mark of quality on everything.” It also means focus must be on the products, “Large companies have a large budget for projects, but we have to be extra creative and more responsible because of our more limited budget.”
For the new products, the same model is used as for the bananas. BanaBay does not have its own ripening facility. “We are working with specialist companies that do that for us.”
Bananas and Brexit
“During the second half of this year, we will be looking at starting to market frozen chocolate bananas. That will be an entirely different concept from fresh produce. Currently, we are still hard at work designing the brand, the packaging and the marketing strategy.”
The Brexit referendum has triggered a period of uncertainty for all British companies, including BanaBay. “The impact of Brexit is not yet certain, we are still at an early stage as Article 50 has not yet been implemented,” Mark says. “Already, the pound has increased compared to the dollar, which brings its own challenges.” These concerns can also be felt on the global market, but Mark remains positive. “We shall see what challenges Brexit will bring. There will always be challenges on the market, but as an export company, we are looking for a model that works best for us and for our customers. For example, Ecuador has weekly prices, while Costa Rica and Colombia more often tend to work with contracts. All this requires a highly responsive and flexible approach.”
Also new this year, BanaBay has a new export partner - CBC Fruit. Based in Ecuador, CBC was set up to give BanaBay comprehensive end-to-end control of the supply chain from plantation to port. The move will serve to support existing partnerships and ultimately deliver improved customer service.
For more information:
BanaBay
Mark O’Sullivan
+44 1213 928 756
+44 7799 347 087
mark.osullivan@banabay.com
www.banabay.com