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Mr.Christopher Marlett,CEO of MDB Capital, an IP-driven public venture bank with over 15 years of experience launching disruptive technologies into the public markets shares his experience doing business in Nicaragua.
Published by Fresh Plaza
Sep. 6, 2013 - The company Mangosa is a mango producer and exporter with plantations in Nicaragua. It makes shipments of Tommy Atkins mangoes for the US market, via destinations such as Miami, New Jersey, California and Houston, and of Keitt mangoes for Europe, via the Netherlands. The fruit is sold under the brands Nature House and Nica Pride.
Mangosa owns 372 hectares for its own production and exports 215-220 containers per season; approximately 1,200,000 4 kilo boxes per year. Its season begins in March and finishes in mid-May, depending on the rains, whose arrival announces the end of the campaign.
According to Luis Campollo, Commercial Director of Mangosa, Nicaragua is one of the safest Central American countries right now, which makes it very attractive for investors, although it is not exempt from problems. On the one hand, the country does not have any ports in the Atlantic side, forcing its exports to leave via Honduras or Costa Rica. On the other hand, its export window coincides with Costa Rica's, which makes its shipments of melons and other fruits during the same period, leading to ships having very little room available.
Campollo explains that, "in the mango market, if you grow too much, prices are affected, so the company does not have a growth plan, although it does, however, seek to grow through diversification with other products." The firm's main project in this sense is that of freezing the fruit which does not meet the minimum quality requirements, thereby providing a solution for the treatment of perishable goods.
Campollo affirms that this year's season was really good, as Peru entered the market soon and Mexico arrived later and with fruit of a lower standard, which helped keep prices up. "We do not need to promote our traditional sales, as we have enough clients who buy all our fruit, but we do seek to sign deals with retail chains. We already have one with Walmart and we would like to collaborate with a few more," concludes Mangosa's Commercial Director.