Del Monte to lay off 850 banana workers in Costa Rica

Del Monte, which also exports pineapple, mango, melon and other tropical fruits, has operated in the Central American country since 1969.

The layoffs represent 5.3 percent of its local workforce.

The company said that in a "relatively short period," the local currency, the colon, rose from about 700 to 450 per dollar.

The rise "fundamentally altered" agricultural exports in the country, said Jorge Pelaez, Vice President of Fresh Del Monte for Colombia, Brazil, Ecuador, and Central America.

Meanwhile, "production costs continue to rise," he added.

The company will wind down operations on four farms that, between them, total 1,200 hectares of banana production in Costa Rica's Atlantic region.

Across the country, Del Monte cultivates more than 40,000 hectares of land.

In 2025, Costa Rica's banana exports reached US$1.11 billion, according to government figures.

Banana exports are second only to pineapple exports, which totaled US$1.4 billion last year.