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FRESH DEL MONTE PRODUCE INC.

(FDP)
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Delayed Nyse  -  04:00:02 2023-01-26 pm EST
27.31 USD   -0.65%
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Fresh Del Monte Produce : Blockchain Start-up and Fresh Del Monte Team Up, Launching Traceability Label

10/07/2022 | 11:52am EST

As seen in The Packer.

Consumers who want to draw back the curtain can now look forward to a future of quick-scan QR codes to learn about the product journey from farm to cart. Fresh Del Monte just invested a 39% stake in blockchain-driven food safety and quality traceability technology company, Decapolis, and plans to implement blockchain-enabled traceability into Fresh Del Monte business divisions.

"Now, more than ever, consumers are very cognizant of what goes into their food. With this blockchain technology, they'll know exactly what has gone into the product, and where it has traveled until the moment it was purchased for consumption. We're excited to begin rolling out this traceability solution to all Fresh Del Monte products," Mohammad Abu-Ghazaleh, Fresh Del Monte chairman and CEO, said in a news release.

This move marks yet another sector added to the fresh fruits and vegetable company's expansive, vertically integrated business segments. Fresh Del Monte's partnership with the Jordanian and United-Kingdom-based tech startup, will include tracking assessments and developing complete logs of product information. The collaboration is slated to begin with Fresh Del Monte's pineapple operations in Costa Rica.

"We embark on this endeavor with full confidence in our company, our offerings, service and the people we serve. It will surely be a promising and fruitful venture, a force multiplier to work that positively impacts communities, families and the future of healthy living and technology for good. We remain steadfast in moving toward our vision of becoming the leading global reference platform for compliance and certification for food trade worldwide," Abedalrhman Habashneh, Decapolis founder and CEO, said in the release. To date, Decapolis has successfully developed and deployed this solution in the private and public sector, spanning four continents.

Blockchain tracking

Using QR codes, Decapolis and Fresh Del Monte will capture each stage of production, harnessing blockchain's digital leger technology to record snapshots throughout the supply chain process. Not only will this empower consumers to know more about the food products purchased, but this blockchain technology will also support food safety and quality assurance traceability and tracking.

What's more, once the two companies have mastered the technology, they plan to provide the tool to other food industry companies and organizations, under the Decapolis Food Guard label.

Disclaimer

Fresh Del Monte Produce Inc. published this content on 05 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2022 15:51:05 UTC.


ę Publicnow 2022
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Financials (USD)
Sales 2022 4 437 M - -
Net income 2022 68,6 M - -
Net Debt 2022 - - -
P/E ratio 2022 19,1x
Yield 2022 -
Capitalization 1 307 M 1 307 M -
Capi. / Sales 2022 0,29x
Capi. / Sales 2023 0,29x
Nbr of Employees 40 055
Free-Float 78,0%
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Technical analysis trends FRESH DEL MONTE PRODUCE INC.
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Mean consensus BUY
Number of Analysts 2
Last Close Price 27,31 $
Average target price 33,00 $
Spread / Average Target 20,8%
EPS Revisions
Managers and Directors
Mohammad Ahmad Mohammad Abu-Ghazaleh Chairman & Chief Executive Officer
Monica Vicente Chief Financial Officer & Senior Vice President
Hans Sauter VP-Agricultural Services, Corporate R&D
Mohammed Abbas Chief Operating Officer & Executive Vice President
Michael J. Berthelot Lead Independent Director
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