Price wars between supermarkets seeking to gain the lowest possible cost of bananas has led to a race to the bottom which has no winners other than the large retailers and multinational corporations. The fundamental need for competitiveness overrides any moral incentive on the parts of the corporations.
The banana industry has long been famous for the power and influence multinational corporations yield upon governments. Despite bananas being grown in nearly all tropical regions, 70% of the global banana market is controlled by only three corporations—Del Monte, Dole, and Chiquita. This two-part article looks at the corporate influences behind the demise of the Caribbean banana trade.