Panamanian Farmers
Suffocated by US Banana
Co.
The 2,850 Panamanian
banana growers of the
Chiquita Brands business
denounced on Monday to
be heading for
bankruptcy, due to a
suffocation policy
applied by the US
transnational company.
About 15,750 people
living in Puerto
Armuelles, in Chiriqui
province, bordering
Costa Rica, rely on
banana export.
In fact, this is the
main source of income in
the town, with a
population of 22,500
inhabitants, surrounded
by banana plantations
which have been the
scene of serious social
conflicts for decades.
The current crisis was
triggered after the
Puerto Armuelles
Multiple Service
Cooperative (COOSEMUPAR),
grouping banana growers,
learned that Chiquita
applied a discount of
$345,000 on the
previously granted
amount on credit.
Apart from the $720,000
COOSEMUPAR should
receive for the sale of
144,000 boxes of banana
-150 containers- they
discount payments of an
outstanding debt with
the National Bank.
The business only earned
$5,901, a spokesman for
the cooperative said,
accusing the
Cincinnati-based company
of "trying to squeeze
us."
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