Business Notes AGRICULTURE

The struggle has all the classic images of a revolution: machete-wielding peasants, gun-toting men in uniform, alleged acts of sabotage. But the rebellion brewing in Honduras has an unusual rallying cry: Bananas! For nearly a century, U.S. giant Chiquita Brands International (formerly United Fruit) has enjoyed a virtual monopoly on the republic's banana exports. But many growers today want to sell their produce to Fyffes Group, a British fruit company offering $4.40 a box, vs. Chiquita's estimated $3.

The U.S. company insists that growers are legally bound to sell to it until 1992. As a result, Fyffes' port shipments have been blocked by armed guards. Campesinos armed only with farm implements have confronted them, but no injuries have been reported so far. Last month a train packed with Fyffes bananas was derailed in northern Honduras when it hit what police said was a deliberate obstruction. The contractual dispute is working its way through the Honduran courts.