EU Rules Are Not Hurting Dole

Dole Food Co., one of the two major banana producers the U.S. government is backing in a trade fight with the European Union, said Wednesday that it has gained market share under EU import rules and will thrive no matter how the dispute is resolved.

“We feel like we’re pretty well-positioned,” said John Tate, a spokesman for Westlake Village-based Dole. “No matter how it comes out, we’ll find a way to work productively in that environment.”

The U.S. said this week that it will impose 100% tariffs as early as Feb. 1 on selected European goods unless the EU changes import rules that discriminate against bananas grown by Dole and Chiquita Brands International Inc. in Latin America.

The U.S. says EU import rules give preference to bananas produced by former European colonies in Africa, the Pacific and West Indies.

While Cincinnati-based Chiquita says it has lost more than $1 billion in sales and a large chunk of market share in recent years because of that policy, the rules don’t have much impact on Dole.

That’s because Dole now also grows bananas in Africa, having set up joint ventures in Cameroon and the Ivory Coast, both former European colonies, Tate said.

Dole shares rose 75 cents to close at $29.06 on the New York Stock Exchange.