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Chinese retailer Dashang inks Cavana brand bananas supply deal with AgroFresh

RBR Staff Writer Published 29 July 2013

Dashang Group, a Chinese multi-format retail giant, has inked a CNY4bn ($652.4m) Cavendish bananas supply contract with fruits trading company AgroFresh Holdings.

Under the agreement, AgroFresh will supply Cavendish bananas under the 'Cavana' brand for a period of ten years, with an average trade value of CNY400m ($64.73m) every year.

The fruit company has agreed to export nearly 220,000 tons of Cavendish bananas annually. In addition, AgroFresh will also supply assorted tropical fruits.

AgroFresh executive chairman Datuk Aric Ng said that the strategic partnership with the Chinese retail major would create opportunities for the domestic fruit traders.

As part of this collaboration, AgroFresh's subsidiaries would be involved in their respective operations from producing tissue cultured seedlings to the final stage of production to supply bananas and other tropical fruits to Dashang, Aric Ng was quoted as saying by BTimes.com.

Dashan, which recently signed three sale and purchase agreements with four firms in Indonesia, Thailand, the Philippines and Malaysia, operates more than 200 shopping malls and retail outlets in 70 Chinese cities.