7 million dollars
Peru: Ag exporting company to invest in its own mango production
The Dominus agricultural exporting company will invest $7 million dollars in order to develop its own fresh mango production and double its frozen shipments, said CEO Victor Morales.
Traditionally, the company buys mangoes from its producing partners, but this year it acquired 120 hectares of the fruit, and expects to close the year with a 20 million dollar turnover. They also have 70 additional hectares to develop for the 2017-2018 period.
Mangoes represent 75% of the company's sales, and the rest comes from avocados. The company also provides export services for grape growers.
With these investments, Dominus will increase its mango production between 15% and 20%, thanks to increased fruit collection, Morales said.
The company is beginning to explore markets in China and Korea. Currently, 85% of its shipments go to Europe and the rest to the United States.
The executive said that the price of mangoes could drop next season because of increased production in the sector. Despite this sales will grow between 10% and 15%.
Regarding fresh mango, there are about 100 exporters, but 8% of them own 60% of the market. Dominus, Camposol and Sunshine make up 25% of total exports.
Publication date: 11/21/2016