Chiquita supply hit by floods

Chiquita Brands has said that it expects to incur a loss in supply of more than three million boxes of banana production from its owned farms and independent suppliers in 2005 as a result of the floods which hit the Atlantic coast of Costa Rica and Panama in January. The company said that it is experiencing increased costs due to higher expenses for alternative banana sourcing, logistics and farm rehabilitation associated with the flooding. These costs are expected to be in the $10-15 million region for the year.