Investor Presentaiton

SHIFT TO AVOCADO All across "the coffee belt” farmers are seeking ways to diversify their income or move away from coffee production entirely. One of the crops that is frequently seen crowding out the coffee is avocado. It grows under similar circumstances as arabica coffee. In many cases, local varieties have been cultivated for years already. The commercial shift to Hass avocado for export is now kicking off and replacing coffee trees in many countries, such as Colombia. In Brazil, however, the production of Hass avocado is not yet very well developed. Nevertheless, this can change quickly and considering the scale of production of coffee in Minas, the shift to Hass can potentially be of similar scale. The avocado sector will be discussed in more detail in the next chapter. Eduardo Bonella of Nepomucena TBC, the biggest producer of avocado of Brazil is originally a coffee farmer, now making the shift to avocado. This is mostly motivated by the low prices for coffee of recent years. The shift to avocado or a mix of the different crops has other advantages. Due to different seasonality, it is possible to work with permanent employees instead of seasonal workers. "We have more than 400 people on the payroll that can work on the farm year round working on coffee, avocado's and dragon fruit and other crops" MVO NEDERLAND 14

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