Peruvian produce multinational Camposol has managed to achieve a 9.7% increase in EBITDA in the first quarter to reach US$9.8 million, despite the Coastal "El Niño" phenomenon that has severely hit parts of the country while also leading to a delayed avocado campaign. 

Camposol notched a 5.6% rise in sales at US$58.2 million, thanks to higher revenue from its trading division thanks to higher blueberry volume, as well as a strong performance from aquaculture division Marinasol.

Volume for the period was up 26.3% at 20,750 net metric tons (MT), driven in particular by its fruit and vegetable division - a department that in the end had a 38% fall in gross profit to US$6.4 million, explained partly by lower mango prices.

"First quarter of 2017 has been favorable for Camposol, our results continue the growth trend that began during the previous years," Camposol Holding Ltd Jorge Ramirez Rubio said in a release.

While the company claims its assets were not materially affected by the Coastal "El Niño" - which brought heavy rains, river overflows and landslides in different areas of the country - it was able to focus on helping its workers and local communities in the wake of the ordeal.

"Camposol, together with the authorities and other companies located in the Chavimochic area diligently worked to protect the trees and infrastructure, guarantee the safety of the operations, and to assist neighboring communities with all our available resources," Ramirez Rubio said.

"Today I am happy to inform that our operations continue normally according to plan."

In its report for the quarter, the company also gave some summaries of individual crop performance and investments.

"Blueberries are currently the most profitable crop in the portfolio, on which the most important investments were made during the last three years," the group said.

"Camposol sold 111 net MTs (554) of avocados during the first quarter 2017, at an average price of USD 3.03 (2.23) per net KG representing a decrease of 80.0% in volume sold and an increase of 35.9% in price compared to the same period in 2016

The company reported US$6.6 million worth of investments were made in the period, of which US$2.7 million were invested in blueberries, US$1.3 million went toward machinery and equipment for avocados and blueberries, US$1 million were for permanent plantations in tangerines, avocados and table grapes, with the remainder going to seafood products, technological and administrative improvements and other areas. 

In the release, Camposol added perspectives of long-term growth prospects for exotic fruits and vegetables markets were excellent.

"Avocado and blueberry consumption is growing, with headroom for increased per capita consumption in key markets. The Company expects good demand for all fresh produce in general in both the United States and Europe," the group said.

In February Camposol also obtained the Walmart’s Supplier of the Year Award in the Produce Category.

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