Peruvian produce multinational Camposol managed to increase its EBITDA 260% year-on-year to US$14.9 million in the third financial quarter. 

The rise was mainly attributed to higher volume and prices for avocados, higher volumes and reduced costs per unit of blueberries and a 'significant reduction' in selling, general and administrative expenses.

Volume sold during the period increased 15.6% to 28,995MT, while the value of sales saw a slightly greater rise of 19.9% to reach US$73.4 million.

The average selling price during the quarter rose 3.3% to US$2.5 per net kilo, mainly explained by an increase in prices of avocados and asparagus.

On the other hand, the average costs of goods fell 6.2% to US$1.67 per net kilo, with blueberries, bell peppers and mangos largely responsible for the decline.

"The third quarter results are in line with our expectations," Camposol Holding executive chairman Samuel Dyer Coriat said.

"By year-end, the company results will reflect an important increase of our blueberries segment (around 400 per cent higher in volume than the previous year).

"Within the next two years, we will see an important growth in volumes (avocados, blueberries and shrimp), without additional substantial CapEx."

The company said in release the long-term growth prospects for exotic fruits and vegetable markets were 'excellent'.

"Avocado and blueberry consumption is growing, with headroom for increased per capita consumption in key markets," Camposol 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 avocados 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 minor related products."

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