It’s that time of year again!
We just sent out our 4th consecutive annual coffee farm parcel Owners report and our 4th consecutive annual distribution.
With steady progress being made on and off the farm, those parcel Owners in our first group of Producing farms, are now seeing a nice, healthy 7% to 9.5% return this year, depending on their purchase price.
And we have a lot of growing still to do, so lots of upside potential.
As the annual report is long, there is a lot to cover.
To help reduce the reading and writing and give a clearer insight into this year’s events, we have added a video section to the full report.
The written report is “for Owners eyes only” but we are happy to share with you the excellent video that was put together by our team in Panama.
The idea behind the video is to allow you to hear from Andres Lopez, Valentine Pedrotti and other members of our ICFC farm management team, that you do not hear from on a regular basis.
- Achieved a weighted average sales price for our coffee of $5.45 a lb. (versus the proforma $4.58 and versus the commercial consumer-market rate of $0.95)
- Received average prices of up to $36/lb for our Geisha and $10/lb for our new proprietary Natural processed green coffee.
- We have had 61 Native Indian kids in school through our ICFC Scholar program.
- Designed and built housing on finca Horqueta 1, complete with electricity, running water and gas stoves, for our farm workers and their families.
- Improved road access to all our farms including brand new 2 km (1.2 miles) “road” cut into the side of the mountain to access the Jaramillo cluster of 5 farms.
- The level of defects in our 2018/19 harvest has been reduced from an extraordinarily high, one-time start-up of 30% in 2016/17 to 14% in 2017/18 and now to an industry acceptable level of 10% this year. Keep in mind that all specialty green coffee that is exported is hand-sorted to a zero-defect level. And we even make money on the defects.
- Planted an additional 50,000 saplings of the most in demand varietals throughout our 11 specialty coffee farms, taking our total to 315,000 trees
We really hope you enjoy watching the report as much as we enjoyed making it. There is so much going on day in, day out as we develop the farms, grow the company, continue to build and train the team and now, start to build our green coffee distribution.
There are some truly exciting times just around the corner and we invite you to reserve your parcels now and come along for the ride.
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