In 2016, CT Finance AG, the Holding Company behind Frutco AG,
established Chimaco SA as its wholly-owned subsidiary in Nicaragua.
Chimaco SA, which today employs four people has been set up to
organise the sourcing of fruit in Nicaragua for, Frutco and Frutco de
las Americas. Its tasks include indentification and selection of
growers, transfer of knowhow through training of farmers and extension
staff, certification of crop production, establishment and
demonstration farms, liasion with local partners (NGOs, government,
microfinance institutes, input suppliers, technical service providers,
etc.) to support fruit growers, promotion and monitoring of fruit
growing. Chimaco's efforts initially will concentrate on the promotion
of passionfruit growing among farmers in Nicaragua.
The new supply chain starts with the raising of passionfruit seedlings
of the desired variety in an irrigated nursery which Chimaco will
The nursery will be designed so that yearly 200 ha can be planted, up
to a total area of 1000 ha.
Chimaco will provide technical assistance to its outgrowers to prepare
the land, to transplant the seedlings, to undertake crop husbandry by
applying good agricultural practices, to certify the production
according to the GlobalGAP standard.
Chimaco will promote a selected South American variety of the yellow
passionfruit which has a much higher brix, a higher percentage of
juice and pulp and is larger and weighs more than the purple
passionfruit that is presently grown in Nicaragua and which is mainly
marketed to the fresh fruit market. Accordingly, Chimaco will not
address the fresh passionfruit market. All fruit would be processed as
puree or concentrate.
Frutco de las Americas will sell the passionfruit puree and
concentrate to both the local/regional and the international market
through Frutco AG. As a result of such practice, the Chimaco Farmers
will get a sudden access to world market for their products.
Nicaragua receives award for best investment project 2017-2018
The passion fruit project initiated by the Swiss company CHIMACO SA in
Nicaragua was named one of the most innovative foreign direct
investment (FDI) in Latin America and the Caribbean, the state agency
for the promotion of Inversiones de Nicaragua (ProNicaragua)
Government of Nicaragua granted during the annual investment meeting
in the city of Dubai, United Arab Emirates, "for the promotion and
assistance in the establishment" of the most innovative IED project In
Latin America and the Caribbean.
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