Favorita Fruit Company Ltd.

completed

Favorita Fruit Company (Favorita) operations are vertically integrated through wholly owned subsidiaries in Ecuador. These include Rey Banano del Pacífico C.A. (Reybanpac), one of Ecuador''s leading banana growers and exporters. Subsidiary activities include trading, shipping, production of cardboard and plastics, fumigation services, and importation and marketing of fertilizers.This IFC financed project involves the purchase of 2,200 ha of developed banana plantations. With this acquisition Favorita will have approximately 8,400 hectares devoted to banana production and will be less dependent on production from independent banana growers. Favorita plans to obtain ISO 14001 and ECO-O.K. certifications for the newly acquired plantations. The ECO-O.K. certification is a program of the Sustainable Agricultural Network, a coalition of NGOs that include Rainforest Alliance - USA; Corporación de Conservación y Desarrollo - Ecuador; Imaflora - Brazil; Centro Científico Tropical - Costa Rica; Fundación Interamericana de Investigación Tropical - Guatemala; and Salvanatura - El Salvador.Additionally, Favorita will fund and manage a program to improve environmental and social practices among independent suppliers. The program will include measures to eradicate harmful child labor and activities to prepare the independent producer''s plantations for international certification.