Mohammad Abu-Ghazaleh: Yes. Well, to start with efficiencies in the field, that is one major item. Secondly, we are more kind of streamlining and more efficient in supply and demand kind of alignment. In the prior years, especially during the second half of the year, there have always been oversupply of bananas through improper, let’s say, planning and meeting kind of demand and supply. In the last couple of years, last year and this year, we are efficiently and better managing the supply and demand side of the story. So our margin has improved significantly because mainly of our efficiency in terms of meeting only the demand and rather than having oversupply in the market. Among other things that we are doing, of course, with logistics and other issues in terms of cost structure. But that’s why — and we believe this will continue to improve as we go forward.
Mitchell Pinheiro: Okay. So you think it’s sustainable, like the higher end of the range kind of level from year to year?
Mohammad Abu-Ghazaleh: Yes, yes.
Mitchell Pinheiro: Okay. And then if you could talk, Mohammad, your — what’s going on in the Middle East, I mean, how is that going to affect your business in the near-term?
Mohammad Abu-Ghazaleh: It’s really marginal. I mean where we are — our major markets are in the Gulf and Turkey and other areas that is not influenced by what is going right now. And we don’t see really any kind of significant or material impact on our business in this part of the world right now.
Mitchell Pinheiro: Okay. And then just last question for me, and I’ll get back in the queue. But on the Fresh and value-added business, you continue to — I mean, year-over-year and sequentially, the margins were down, but you’re making some nice progress there climbing back to where I think, you think the business ought to be. Is — are there any headwinds for that business in the fourth quarter? And can you talk about how the margins are going to look next year roughly? I mean are we going to see continued improvement? Is there any other headwinds that we need to know about?
Mohammad Abu-Ghazaleh: Not really. I think that we are doing well. We are going into new — as I speak, new kind of transactions and joint ventures as we go into the new year, that will improve our margin and improve our kind of utilization of our assets, and that’s the most important thing, resources and assets. And I think that for ’24, we are very confident about the future. We are definitely going in the right direction.
Mitchell Pinheiro: And where do you think, by the way, that’s this thing, but where do you think margins can go longer term in the Fresh and value-added business?
Mohammad Abu-Ghazaleh: I would go for about our target and our objective is to reach about 12% of the gross margins.
Mitchell Pinheiro: Okay. So still a lot of upside left there?
Mohammad Abu-Ghazaleh: Yes.
Mitchell Pinheiro: Okay, thank you. I’ll get back into queue.
Mohammad Abu-Ghazaleh: Thank you, Mitch.
Operator: I will now turn the call back over to Mr. Abu-Ghazaleh for closing remarks.
Mohammad Abu-Ghazaleh: Thank you very much, everyone and it was a pleasure to talk with you today. And hopefully, we can join again on our next call. Thank you and have a good day.
Operator: You may now disconnect.
