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Fresh Del Monte Produce has announced a strategic joint venture with Colombia-based Managro Group, a leading exporter of avocados and limes.

This partnership aims to enhance Fresh Del Monte's supply chain capabilities through the expansion of a packing house dedicated to these high-demand fruits in Colombia, thereby strengthening its presence in the burgeoning avocado and lime markets.

The new facility is set to bolster Fresh Del Monte's ability to supply high-quality avocados and limes year-round to North American and European markets.

With Colombia's optimal growing conditions and reliable sourcing capabilities, this investment aligns with the company’s long-term strategy to diversify its sourcing and solidify its footprint in the region.

“This joint venture is a bold step in advancing our long-term ambition: to lead in the most dynamic, high-growth categories in fresh produce,” said Danny Dumas, senior vice president of sales, marketing and product management for North America at Fresh Del Monte.

Dumas also highlighted that the collaboration with Managro will enhance the company's vertical integration while reinforcing its position as a trusted supplier of premium fresh produce.

The global demand for avocados and limes is on the rise, driven by consumer preferences for nutrient-rich foods. According to a report by Fact.MR, the global lime market is projected to grow from $48 billion in 2024 to $62 billion by 2034, representing a compound annual growth rate of 2.5%.

Similarly, the avocado market is expected to expand from approximately $19 billion in 2024 to about $34 billion by 2034, reflecting a robust CAGR of 5.9%.

This joint venture leverages Colombia’s agricultural advantages, Managro's extensive industry knowledge and Fresh Del Monte’s global distribution to meet increasing demand for these products.