Peru: Higher blueberry, grape volumes spur on Camposol's Q4 earnings -

Peru: Higher blueberry, grape volumes spur on Camposol's Q4 earnings

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Peru: Higher blueberry, grape volumes spur on Camposol's Q4 earnings

Peruvian produce giant Camposol saw its fourth quarter EBITDA jump 118.7% to US$35.4 million year-on-year, driven partly by higher volumes of blueberries and table grapes.

The company noted overall volume sold during the period, including from discontinued operations, was 14.6% down from 2015 at 21,454 metric tons (MT) mainly due to lower quantities of  asparagus, artichokes and bell peppers.

Average prices in the quarter rose 38.7%, thanks largely to table grapes and seafood products. Additionally, total sales value rose 18.4% to US$102.3 million while the average cost of goods increased at a slightly lower rate of 12.1%.

Looking at 2016 as a whole, Camposol highlighted blueberries were the most profitable crop in the portfolio, on which the "most important investments" were made during the last three years.

The company sold 10,941MT of fresh blueberries during the year at an average price of US$9.16 per net kilo. These figures represent a 146% increase and a 15.5% decrease year-on-year respectively.

As for avocados, volume sold decreased 17.5% during the year to 20,921MT but average prices rose 20.6% to US$2.18 per kilo. Meanwhile, table grape volumes nearly doubled to 7,475MT with the price edging up 6 percentage points to US$1.82 per kilo. 

Fresh mangoes failed to perform well, with volumes and prices both declining. Camposol said volumes were down 22.7% at 7,774MT and prices fell 14.9% to US$1.26 per kilo.

In its report the company also noted it had invested US$24.8 million in 2016, of which slightly more than half was dedicated to the blueberry category. US$2.4 million had been invested other crops like tangerines, grapes, avocados and mangoes.

Looking ahead, Camposol indicated it was feeling positive about the future market outlook in major export destinations.

"The long-term growth prospects for exotic fruits and vegetables markets are excellent. Avocados, blueberries, tangerines and mangos are growing, with headroom for increased per capita consumption in key markets," it said.

"The Company expects good demand for all fresh produce in general and for avocados and blueberries specifically in both the United States and Europe. The Company expects to continue its diversification strategy by increasing the production capacity of blueberries and shrimp and other related products."


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