Fruvex: more income for vegetable farmers. With a loan of € 20,000, Fruvex has working capital to export more edible roots and tubers. Fruvex will create 6 new jobs and buy more vegetables from the 25 farmers in their existing network, who will receive more income as a result.
- Direct investment
- 6 new jobs
- 25 people reached
- Company name: Fruvex
- CEO: Carlos Arguello
- Founded: 1996
- Location: Nicaragua
- Sector: Fruit & vegetables
- Turnover: €135.603 in 2020
- Employees: 6
This is a direct loan to a company. It is advisable to be cautious about the size of an investment in this project. Get information about the risks of such an investment here.
About the company
Fruvex is a family business from Nicaragua that purchases fruit and vegetables from small-scale farmers. Six employees ensure that the products are washed, packaged and prepared for export.
The main crops that Fruvex trades are:
- Cassava. In Europe, the product is known from cassava chips, a vegetarian variant of prawn crackers. Cassava is very resistant to drought and locust pests.
- Taro: A root tuber that is rich in starch and can weigh up to four kilos. Taro is suitable for cooking, roasting, baking and frying.
- Ginger: a spice that has been on the menu in many countries for centuries.
- Sweet potato: In developing countries, the sweet potato is the fifth most important food crop, after rice, wheat, maize and cassava.
Fruvex mainly exports to three regular customers in Puerto Rico (US). The company has been approached by five potential new clients, three of which are in Miami and Puerto Rico. However, the company needs working capital to purchase and process more tubers. The company wants to obtain the necessary certificates within three years to also be able to export to the Netherlands and Spain.
In total, 25 small-scale and medium-sized farmers sell their products to Fruvex. Seven of them sell directly to the company, the others sell through an intermediary. Fruvex wants to buy more directly from farmers in the future. By cutting middlemen out of the process, more income goes directly to the farmers. Many farmers find transport too risky due to the possibility of damage and theft. As soon as Fruvex itself can play a role in transporting the products, these barriers can be overcome. Fruvex trains farmers in the network in efficient and sustainable production methods.
Purpose of the loan
With a loan of € 20,000, Fruvex has working capital to export more edible roots and tubers. Fruvex will create 6 new jobs and buy more vegetables from the 25 farmers in their existing network, who will receive more income as a result.
Mission & vision
Fruvex wants to contribute to the sustainable, economic development of Nicaragua by providing a good income to the farmers and employees involved, which has a positive impact on their families. Fruvex wants to export fruit and vegetables abroad in a socially responsible way. All people involved in the business, such as farmers and staff, must be treated well.
Fruvex's greater capacity means that the company can purchase more tubers and roots from the 25 farmers in their existing network, whose income consequently increases. The farmers receive training in efficient and sustainable production methods. Six additional staff members (1 full-time and 5 part-time) will be hired.
The company was founded by Roberto Jose Arguello and his mother (who has unfortunately passed away since). Fruvex is currently owned by Roberto Jose and his son Roberto Carlos. Roberto Carlos maintains contacts with external parties, conducts research into new markets and takes care of logistics. Roberto Jose works as general manager and maintains direct contact with the buyers. There is an operations manager, with 15 years of experience in the field, who takes care of the entire production process and an accountant. Fruvex wants to hire a new employee to improve their administrative work.
Learn more at their website: https://en.fruvexram.com/
|CEO||Roberto Carlos Arguello|
Impact of this project
- With this investment 6 jobs are created
- With this investment 25 people are reached
About the risks
Read more about the Risks.