Peruvian agricultural company Camposol has announced an 83.9% year-on-year rise in EBITDA to reach US$7.4 million for the first quarter, explained by greater volumes of frozen mangoes and higher prices for preserved white asparagus, fresh mangoes and shrimp.

Not only were the company's products more profitable for the period, but it sold a lot more of them. Sales went up 49% to hit US$60.5 million, while volume was up 34.3% at 24,359 net metric tons (MT).

Camposol said the increase in volume was mainly due to upticks in frozen mangoes and grapes.

Meanwhile, the increase in profitability could be attributed to a 10.7% higher average price for the multinational's items, at US$2.48 per net kilogram (2.2 pounds).

In a release, the company said the long term growth prospects for exotic fruits and vegetables markets were excellent.

"Avocadoes and mango are growing, with headroom for increased per capita consumption in key markets," the release said.

"In the case of asparagus, although consumption is stable, supply is falling due mainly to reduced exports from China.

"The Company expects good demand for all fresh produce in general and for avocadoes specifically in both the United States and Europe."

Photo: www.shutterstock.com

www.freshfruitportal.com