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Argentina’s Adecoagro’s Dairy segment sales grow​ 100% inter-annual​​ly

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In November 2018 Adecoagro bought from SanCor (the former largest dairy cooperative in Argentina) two plants, one in Chivilcoy (Buenos Aires province) and the other in Morteros (Córdoba), and two milk brands: Las Tres Niñas and Angelita, for USD 47 million.

After that, they launched long-life milk brand, Apostoles, produced at the fluid milk processing Chivilcoy facility. In the Morteros facility, the company elaborates powder milk and cheese.

This week, CEO of the company, Mariano Bosch, celebrated the presence of Adecoagro in the domestic milk market. “This year we start to produce our own brands of milk”, he said.

“We are proud to manage a sustainable process, that involves all the value-chain, and what permits us to bring a high-quality product to the table of the Argentinians”, Bosch twitted.

Adecoagro has 8,500 milking cows into two undercover milking yards (free-stall), which provides around 100 million litres of milk per year. After buying the SanCor facilities, the Dairy segment of Adecoagro exhibits a large improvement.

Sales of fluid milk reached USD 15.3 million in the first half of the year (UHT), while sales of powder milk, cheese and cream added other USD 9.3 million.

In the past year, this segment exhibited sales by USD 1.2 million of powdered milk.

On the other hand, sales of raw milk dropped from USD 13.4 to USD 5.1 million.

Hence, the total sales in the Dairy segment grew from USD 14.6 million in 2018 to USD 29.7 million this year, while the EBITDA jumped 50% from USD 5.0 to USD 7.4 million.

The company announced that milk production increased 17% in the first half of the year with respect 2018.

This brings Adecoagro total to USD 382 million of sales, with the dairy segment accounting for an 8% share.

Source: efarmnews

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