Buencafé reports best first half of its history
- Between January and June 2020, it reached sales of USD 78.4 million, up 10% from the USD 71.3 million of first half of 2019.
- As part of the FNC, all profits of the freeze-dried coffee factory are reinvested in public goods and services that benefit all coffee growers.
Bogotá, July 9, 2020 (FNC Press Office)- In the midst of the covid-19 pandemic, the Buencafé freeze-dried coffee factory, owned by the Colombian coffee growers (in whom it reinvests all its profits), reported today the best first half of its history.
Between January and June, it achieved sales of USD 78.4 million, up 10% compared to USD 71.3 million in the first half of 2019.
In these results, the work team played a key role to never stop operations, acting quickly and assertively in design and implementation of health care protocols for employees, whose commitment and optimism has also been crucial.
These good results were favored by an increased share of sales of freeze-dried coffee jars (45% vs. 37% in 2019), 70% more sales of extract, and record sales of the Buendía brand (19% more than in 2019), all as a result of the revision of its commercial strategy to take advantage of new market opportunities.
“Incredible! The freeze-dried coffee factory, which belongs to the Colombian coffee growers, yields such results in the middle of a pandemic year. What a pride for them and the union as a whole,” the Colombian Coffee Growers Federation (FNC) CEO, Roberto Vélez, said.
The results were also possible thanks to higher coffee consumption at home (an optimal space for soluble coffee), the completed expansion of the plant to meet growing demand, operational excellence, and strengthening of the added-value strategy.
Buencafé closed 2019 with sales of 12,836 tons, 1.6% more than in 2018, and its flagship brand Buendía grew double-digit in Ecuador and Colombia, where it consolidated as the fastest growing brand.
With clear commitment to sustainability, Buencafé is also at the forefront in environmental matters, as it reuses all coffee grounds as fuel for its boilers, which translates into considerable savings, and has significantly reduced emissions and wastewater discharges.
As part of the FNC, all Buencafé profits are reinvested in the National Coffee Fund (FoNC), which finances public coffee goods and services, as well as programs, that improve producers’ living conditions.
In 2019, the FoNC financed public coffee goods and services worth almost COP 415.3 billion (USD 126.6 million), 8% more than the previous year.