Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

Individuals and corporates can now share in Peru’s 'blue gold' success

Individuals and corporates from around the world have started to share in Peru's blue gold success by investing and owning a real piece of productive export blueberry and, eventually, table grape land. The new 1,005 hectare agro-industrial complex in Piura, Peru, will establish a co-operative called Fundo Azul. Beatriz Tubino, Manager of new business for Agroextiende Peru, "We manage the investments of third parties to develop the agri-export business. The returns are a minimum of 25% on the investments. It is open to individual and corporate investors all over the world."

Beatriz Tubino, Manager of new business for Agroextiende Peru in their blueberry test blocks.

"We are the first investment model in agro-export of premium-collection blueberries with precision agriculture in Peru; developed by the company Agroextiende, as part of its 1,005 hectare agro-industrial complex. The project allows a natural person to be an agro-exporter and have access to a business with high standards of professionalisation and high levels of investment in agricultural and post-harvest infrastructure. It offers greater profitability to conventional businesses, generating socio-economic impact in the Piura area," explains Tubino.

The company was established with Peruvian capital by the Maúrtua family. Agroextiende has around 60 people, with offices at the farm in Piura and in Lima, who manage all aspects of the business on behalf of investors. "We have more than 300 private investors, who live in many places across Peru, and also from abroad like the US, Australia and Europe," states Tubino.

Lucas Maúrtua, General Manager

"We have units available for corporate investment with lots of 150, 100 and 50 hectares. We focus on individuals too, who can invest for approximately $14,600. We operate your investment in the field looking at and managing the crop in the land. Then we handle the post-harvest and exports. We will then turn out the money from the export business to each investor."

Tubino explains this model allows them to have a wide social impact. "We make more exporters with our model. E.g. our water will come from wells in the ground, more than 200 m below the surface. This investment alone cost more than $400,000 dollars per well. One person cannot afford it, but if we do it with an association model and the needed specialisation, you can afford it. Many people have invested already, showing their confidence to develop the business. We are looking for corporate investors to take up the lots, which we will manage for them, or they can farm it on their own."

Test block for new varieties
Agroextiende has developed a test block to trial the latest varieties of blueberries for their farm that will be the most suitable for the Piura area. "We have developed a 3,000 sq. area to be able to select the most suitable varieties. Around October, we will choose which varieties are the most suitable, that we are going to cultivate to reach the first 100 hectares for the first stage of the project for blueberries. Our vision is to start exporting next year."

Tubino says the production are of Piura is known for the table grapes and mango production, with only a small amount of blueberries grown in the area. "We have some varieties from Fall Creek and from the University of Georgia, between others. We are looking to see how these varieties are adapted in this ecosystem. Those varieties are already well suited. We need to go through all the phases in the test block. It is a great responsibility to manage the investments of third parties. We are the first model of this kind in Peru for blueberries."

Individual investors in the co-operative will have title deeds of 1,000 sq. of blueberry plants. "Each investor will own a bit of the production. We have all the specialisation and take responsibility at Agroextiende, we have people with more than 20 years of experience. The Maúrtua family have brought together an agriculture engineer that comes from a big company who is in charge of development, production, pest control, quality etc. The 25% return will be offered from year three when full production has been reached. In the near future, we will launch Fundo Victoria (the same model for table grapes). We chose the 'champion products'; blueberries and grapes due to the fact that Peru is the first exporter worldwide, it has comparative and competitive advantages," concludes Tubino.

For more information:
Beatriz Tubino
Tel: +51 922 404207
Email: [email protected]