The world's largest produce market in terms of revenue will stay open for business after its union members voted in favor of a wage and benefits package that was tentatively reached over the weekend.

In a release, Teamsters Local 202 announced 97% of its members at the Hunts Point Terminal Market in New York supported the deal, which involved 'significant wage increases in each year of the contract'.

"It's our best wage and benefits package in two decades," Teamsters Local 202 president Daniel Kane Jr. said.

The leader also urged the government of New York City to upgrade the market's infrastructure, highlighting an urgent need for renovation following Hurricane Sandy.

The market is located on the East River peninsula.

"This is only the first step in ensuring that Hunts Point Market remains a home for good jobs in the long term," Kane said.

"Now it's time for our city government to step up and ensure that this public property has the necessary infrastructure to meet 21st century needs and withstand the next hurricane."

The union said several mayoral administrations had considered projects to renovate the market, but no plan had yet moved forward.

"Hunts Point feeds New York. Hunts Point employs the Bronx. We can't wait any longer to protect this vital resource for our city," Kane said.

In a statement, Hunts Point Produce Cooperative spokesperson Robert Leonard said the group was very pleased with the ratification of the agreement.

"The new contract fairly addresses a number of concerns raised by both management and labor throughout the negotiation process," Leonard said.

"We can now continue our focus on working together to provide our region with the freshest and highest quality fruits, vegetables and produce."

Related stories: U.S.: No strike today at Hunts Point Terminal Market

U.S.: "Contingency plans in place" for Hunts Point Terminal Market

U.S.: Hunts Point union negotiations aim to ward off strikes

Inside New York's bustling, lock-tight produce trading hub

www.freshfruitportal.com