Rising avocado sales and solid asparagus prices were the key drivers for a 55% increase in sales during the second quarter for Camposol Holding Ltd., Lima, Peru.
Total sales for the quarter ending June 30 were $72.8 million, according to a news release.
“The long term growth prospects for exotic fruits and vegetables markets are excellent. Avocadoes and mango are growing, with headroom for increased per-capita consumption in key markets,” according to the release.
“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 U.S. and Europe.”
Camposol is upgrading and expanding operations and recently raised $75 million with a bond issue. The money will be used for capital expenditures, mainly the expansion of Camposol’s blueberry and shrimp operations, according to the release.
Already this year the company spent $14.4 million on equipment, infrastructure and land, according to its half-year report. Of that, $3.6 million went to newly planted blueberry fields and recently planted avocado trees.
The sales value and volume of Camposol’s main commodities during the second quarter this year were:
- Avocados: $41 million for 24 tons;
- Asparagus: $11.6 million for 3.51 tons;
- Artichokes: $3.3 million for 1,515 tons;
- Grapes: $893.000 for 472 tons; and
- Mangoes: $4 million for 2,287 tons.