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Thursday, September 19 2019 @ 08:24 am EDT

Panama: Coosemupar fined for non-delivery

Money Matters Tholen - The president of the Panamanian banana producing cooperative Coosemupar, Gutiérrez, has labelled the union Sitrachilco as ‘irresponsible’. The union convened a general member assembly at which occasion it was decided to set an ultimatum to the government to strike a deal with Chiquita. The union’s actions have cost Coosemupar dearly, as all working operations were paralysed for the meeting. Coosemupar quantifies the losses at more than $ 200.000 as the existent financial crisis is only deepened. According to Gutíerrez, Coosemupar was fined $ 75.000 for failing to deliver the containers that had already been reserved, as on February 17 25.000 boxes of bananas could not be loaded. Banana traders apply a punitive $ 3 per non-delivered box in their contracts, which in this case numbered 25.000 boxes. Combined with the losses of fruit which could not be packed the total losses amount approximately $ 200.000. Publication date: 22 Feb 2006 Author: Andre van der Wiel

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