Itaueira Frutas invested R$80 million, equivalent to US$15.84 million, in 2025 to resume melon and watermelon production in Ceará after suspending operations in 2016 due to a water crisis. With the restructuring in the state, the company returned to export markets.
At the farm acquired in Morada Nova, Ceará, planting covered 1,150 hectares. With this addition, melon and watermelon output across Bahia, Piauí, and Ceará reached 85,000 tons. The first harvest at the property was completed at the end of last year, although production has not yet reached full capacity.
From Ceará, Itaueira exported melons and watermelons to the European Union, the United Kingdom, the Middle East, and Canada, leveraging the September to March European sales window and the state's logistical position.
Chief Executive Officer Tom Prado said 2025 was one of the most challenging years for fruit exporters serving Europe and that melon prices abroad were below domestic levels. "Many former buyers and new clients were asking for our melon," he said, noting that the company reconsidered its position after participating in Fruit Logistica in Berlin.
Itaueira estimates revenue exceeded R$500 million, or US$99.00 million, in 2025. In 2024, net revenue totaled R$481.5 million, equivalent to US$95.34 million, with EBITDA above R$122 million, or US$24.16 million. Melon accounts for 80% of revenue.
Prado said the company raised funds to rebuild working capital and finance investments. "We chose to raise funds at attractive rates to rebuild working capital and finance investments more comfortably. We plan to continue investing in asset modernization and in bringing new technologies to the field. That will make the company even more competitive," he said. An IPO remains under consideration.
Itaueira suspended operations in Ceará in 2016 when the Castanhão reservoir reached 9% capacity. Output fell by half in 2017. In 2021, rainfall in Bahia also affected production.
"Melon needs water, but not rain, which brings diseases, pests, and problems with fertigation. To mitigate risks, we chose to operate in three locations, with 800 kilometers separating the farms, so we can supply consumers year-round. That's why resuming operations in Ceará was so important," the chief operating officer said.
The company operates 22,000 hectares across four states, with half allocated to preservation.
Source: Valor
