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Chiquita Brands International CEO Fernando Aguirre on the company’s ability to keep the price of bananas low despite rising inflation.
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-- Fox Business alert for new fed head Ben Bernanke sending -- a warning about inflation today but not here in China.
Here in America the government is still -- inflation is tame my next guest says that inflation's.
Out there are but it's -- cities trying to hold firm modest cost.
That succeeded CO Fernando Gary and joining me now sort of very good to have you thank you for coming.
Thank you -- I'm you do tried very hard to keep these -- -- down and make certain that a lot of folks can still buy -- -- I think they would even at a premium.
But having said that are you worried that that's gonna be hard to keep doing.
Well I'm not worried -- to -- told though cost control today is a very important aspect of for essentially any business.
But we are in very basic.
-- as you know.
You can find a banana is probably the lowest cost nutritional lied and they -- -- -- grocery store.
It's -- -- our cost around twenty cents.
And there's really nothing else that you compliant that is that nutritional.
For that kind of price level.
And I -- agree you have it on that's and is blowing smoke for Nana but that bananas but that's like favorites for.
The only fruit that I like but I I've I'd add that I mean you do on that but here's what I'm Begin to wonder when.
When push comes to shove it -- in the grocery -- pricing.
All of the theory is that people then start saying all right what are might vital.
Food groups that I need to -- vital.
Our gross she's that I need and is needed at that point and we've seen this in prior -- price hikes where where where people then settle on.
The basics and and get a banana sort of might be part of that but it might be a trend down the list of -- fruits for example.
And that that would be a worrisome trend if we get to that point we're not there yet I don't thing.
But we could build equity and -- Yeah I I don't -- -- there yet I agree with you -- but the other thing is that it is very difficult to find.
Very good nutritional food items on our.
That -- of -- over price point for the consumer.
We see an over the years we have seen that even in recessionary environments.
We're so -- -- that our pricing doesn't change that much.
We're also the only fruit that you can find all year round we grow -- in different countries around about how we harvested a merry me every single day.
There is essentially never a store where you cannot find a banana you've made.
-- fall short on oranges tomatoes and many other have programs items but -- banana you can find at every single day of the year.
And by the way it's gonna know what we're on the subject to save a -- submitted I have yet to see some American kennel cream pie thank you are -- development.
Odds do you think that so we did grocery stuff notwithstanding Panetta -- the inflation environment I always -- but I look at these prices.
And and the government at least in this country tells us inflation's not a problem what is -- don't go grocery shopping.
And obviously they don't see some of the press is building now at the -- Where they conveniently.
Cancel those out when it's over about core inflation -- things like food and energy but I think the inflation problem.
Here's where you and I might have a slight difference of opinion is more pronounced than we know what.
What do you think -- I -- I think I agree with you I think there is an issue with inflation.
We see it everywhere we -- in the -- -- Aziz said that.
Now we see it and in other places restaurants as well was clothing items sob so we've inflation is here.
We need to be very careful but I I think are you have believe for many years that they've basically core strategy for every business.
It has to be cost control.
And no matter what.
Product you are or what activity you sell.
He Buren disservice industry.
You have to control your cost to be able to maintain some stability in your business.
Well you've done -- and admirably current trying to keep doing that Fernando thank you very very much good at it.
Thank you --
