Privately-owned conglomerate, Truong Hai Group (Thaco) has recently signed a 10-year contract to supply US-based Fresh Del Monte, a leading global fruit and vegetable producer and distributor, with bananas starting with 71,500 tons this year.
The Vietnamese firm will support Fresh Del Monte with mechanization in farming and automation in packing, leveraging Thaco’s automated fresh banana packing facilities.
Project implementation is scheduled to start by August 2026, with the first factory expected to be commissioned as early as June.
Under the agreement, Fresh Del Monte has set strict requirements on stable yields and consistent quality, with both parties having to pay penalties if they fail to meet 90% of committed volumes.
Fresh Del Monte reported an annual revenue of US$44.6 billion and it currently manages more than 40,000 hectares of banana plantations worldwide. According to Mohammad Abu-Ghazaleh, Chairman and CEO of Fresh Del Monte, “Fresh Del Monte is aiming to broaden its global sourcing footprint while expanding its presence in Southeast Asia.” The company has inspected Thaco’s operations since 2023 and firmly believes that Thaco can meet its rigorous production standards.
Initial production and supply of bananas will be 71,500 tons which will be increased, upon satisfactory quality, to 240,000 tons annually. Thaco will focus on production while Fresh Del Monte will manage branding and distribution.
Fresh Del Monte is also exploring large-scale pineapple development in Vietnam, aiming for 2,000 hectares branded Fresh Del Monte with Thaco’s partnership.
Thaco plans to export 512,000 tons of bananas in 2026 with Fresh Del Monte accounting for roughly 15%. The company aims to expand its banana cultivation area to 20,000 hectares in the coming years, representing a significant share of global supply.
