Fresh Del Monte Produce Inc. has entered into a joint venture with Managro Group, a Colombian-based agricultural company and exporter of limes and avocados. The partnership includes a shared investment to expand an avocado and lime packing house in Colombia. The facility will supply Fresh Del Monte's North American and European markets.
According to the companies, the expansion will increase the ability to deliver avocados and limes year-round. Colombia's growing conditions and sourcing potential were cited as factors in the investment, which aims to diversify supply and expand operations in the country.
© Fresh Del Monte
"The avocado and lime markets are experiencing strong, sustained growth," said Danny Dumas, Senior Vice President of Sales, Marketing, and Product Management for North America at Fresh Del Monte. "Through our partnership with Managro in Colombia, we're enhancing our vertical integration, expanding our global footprint, and reinforcing our position as a trusted, year-round supplier of premium avocados and limes."
Global demand for avocados and limes continues to increase. According to Fact.MR, a global market intelligence and advisory firm, the lime market is projected to grow from $48 billion in 2024 to $62 billion by 2034, with a compound annual growth rate (CAGR) of 2.5%. The avocado market is expected to grow from about $19 billion in 2024 to $34 billion by 2034, with a CAGR of 5.9%.
The joint venture combines Colombia's production potential, Managro's experience in limes and avocados, and Fresh Del Monte's distribution network to address demand in both categories.
For more information:
Claudia Pou
Del Monte Foods
Email: [email protected]
www.freshdelmonte.com
