In the midst of the COVID-19 pandemic, freeze-dried instant coffee producer Buencafé has reported its strongest financial first half of the year to date.
Between January and June 2020, it achieved sales of US$78.4 million, up 10 per cent compared to US$71.3 million in the first half of 2019.
As part of the Colombian Coffee Growers Federation (FNC), Buencafé is owned by the Colombian coffee producers, in whom it reinvests all its profits
Cristina Madriñan, General Manager of Buencafé, says these results were achieved due to the dedication of the team, which never stopped operations, acted quickly and assertively in design, and implemented health care protocols for employees, whose commitment and optimism has also been crucial.
These positive results were favoured by an increased share of sales of freeze-dried coffee jars, at 45 per cent compared to 37 per cent in 2019, 70 per cent more sales of extract, and record sales of the Buendía brand – 19 per cent more than in 2019.
FNC CEO Roberto Vélez says this is all as a result of the revision of Buencafé’s commercial strategy to take advantage of new market opportunities.
“[It’s] incredible [that] 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,” Vélez, says.
The results were also aided by higher local coffee consumption – an optimal space for soluble coffee, Madriñan says – 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 tonnes, 1.6 per cent more than in 2018, and its flagship brand Buendía grew double-digit in Ecuador and Colombia, where Madriñan says it consolidated as the fastest growing brand.
With a commitment to sustainability, Madriñan says 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 COL$415.3 billion (about US$126.6 million), 8 per cent more than the previous year.
For more information, visit www.buencafe.com/en
