Dax Cooke’s 07 – 26 – 2016 CEO Update
Farmfolio has been busy this summer. Personally, I spent the last month visiting a prospective project in Peru, sourcing new seed genetics in Costa Rica for Pietrasanta’s 2017 crop, and leading team meetings in Panama. In this month’s Update from the CEO, I provide our clients and friends with a look into Farmfolio’s newest developments.
The first week of July, Farmfolio’s organic advisor, Greg Holzman, and I visited an organic citrus farm north of Lima, Peru. The citrus farm operates a 100-hectare plantation and exports internationally, including to the United States. Adolfo Barreda, the farm owner and manager, sells most of his export production to the US-based distributor United Natural Foods Inc. Given the operation’s success, its high-quality fruits, and Adolfo’s interest to add an additional 150 hectares, Farmfolio is considering a joint-venture in 2017. The project would be structured to acquire an additional 150 hectares of land for organic citrus production in the immediate vicinity of the current farm and to scale up the existing pack house in order to optimize storage and distribution. Initial financial modeling and feasibility studies are being conducted. More to come soon!
Farmfolio’s organic advisor, Greg Holzman, makes sure that the products are of the highest organic quality.
After visiting Peru, I headed to the province of Puntarenas in southern Costa Rica. There I met with Henry Ledezma, owner of Starter Plants S.A., which is 1 of 2 certified organic coconut tree nurseries in Costa Rica. Starter Plants is also currently exporting to Wholefoods grocery stores in southern California. Henry manages unique and high quality plant varieties such as the Malayan dwarf coconut tree, which is very hard to find! During the visit, I secured the sourcing of Pietrasanta’s 2017 green coconut seeds! Over the coming weeks, Farmfolio will complete the necessary paperwork with the respective ministries of agriculture in order to import the Costa Rican seeds. Green coconuts are primarily a water-based nut and the Malayan variety specifically is an increasingly sought after blend that we anticipate will give Pietrasanta investors better than expected returns from coconut harvests.
|During my visit to Costa Rica, I enjoyed some of the coconut water that Farmfolio’s operation in Pietrasanta will soon be producing. I finished off my business tour with a visit to Panama to review the final schedule for implementation and design of Pietrasanta’s coconut plantation. Development team member Keith Agoada and I met to lay out the 18-month planting schedule for Pietrasanta’s coconut plantation.|
The initial nursery design is underway; however, we will be scaling up operation to make room for the 50,000 coconut seeds that will be arriving during the coming months. Keith and the remainder of the team will be arriving in early august to begin the irrigation implementation and permanent nursery completion.
During the coming Fall months, I will be traveling to the States to host a series of road shows and information sessions regarding upcoming offerings. We will be posting the full schedule during the coming weeks, stay tuned!