date:Mar 28, 2014
via the negotiations between Mercosur and the European Union, as the high taxes leave the company in a competitive disadvantage.
According to Roberto Barcelos, Chairman of Coex's Executive Committee, Europe has a tax rate of 40% on bananas, while the tax on other fruits averages 10%. Meanwhile, the competitors aren't paying any tariffs due to the trade agreements between their countries.
In some farms, Del Monte will stop planting bananas to produce other fruit crops. The conversion of the pr