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March 8, 2021, 11:29 a.m. EST

Avocado seller Mission Produce enters Mango market

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By Tomi Kilgore

Mission Produce Inc. /zigman2/quotes/221441980/composite AVO -5.57% said Monday it was entering the Mango category, as the recently public Hass avocado company said it was in "prime position" to enter the market for the most consumed fruit in the world. The company said it currently owned 300 hectares of mangos in Peru, and is on track to source additional fruit from other regions. Chief Executive Steve Bernard said mangos are typically off-season from avocados, so the new year-round program creates a "unique synergy" within the company's international farming business. "We began our original mango program a few years ago during a seasonal window to keep our workforce employed year-round," Bernard said. "We've since seen increasing demand from our customers and the impressive response to our current mango program indicates that we are ready to grow into the mango market." The stock, which went public on Oct. 1, slipped 1.2% in morning trading. It has soared 49.8% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.82% has gained 4.7%.

US : U.S.: Nasdaq
$ 19.34
-1.14 -5.57%
Volume: 224,670
May 6, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$1.44 billion
Rev. per Employee
+34.03 +0.82%
Volume: 2.24B
May 6, 2021 5:28p

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