Financial Statement 2021: more than BRL120 mln to Cooxupé's members
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Cooxupé’s Financial Statement 2021: more than BRL 120 mln to members

Cooxupé’s Financial Statement 2021: more than BRL 120 mln to members

Brazilian Cooperative of coffee growers presents its Financial Statement 2021; total revenue reached record BRL 6.7 bln

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Cooxupé – Regional Cooperative of Coffee Growers in Guaxupé – released its Financial Statement 2021. The results were presented to members during the General Assembly held in 25 March.

Statutory surpluses outperformed BRL 120 mln to be returned to members. The surplus/profitfor the year amounted BRL 356 mln, while net revenue reached record BRL 6.7 bln. Besides the statutory surpluses, the members and their families had other gains during 2021, as prizes in cash from certification, acknowledgement, and coffee quality programs, and the Program of Restitution of Capital by Age, for instance.

Cooxupé’s Statement 2021: receipt and shipments

The cooperative’s goals for 2021 met expectations, after a general revision demanded by the effects of climate challenges. Cooxupé received last year 5.6 mln bags (60Kg) of Arabica coffee. Shipments totaled up 6.027 mln bags, out of which 4.9 mln were directly exported to clients in 50 countries. When it comes to specialty coffees, cooperative’s expedition reached 147.9 thousand bags, being 131.3 thousand exported and 16.6 thousand to domestic market, via SMC Specialty Coffees.

“It’s important to remember that climate was of great influence in 2021, with high temperatures, lack of rain, and the occurrence of frost. Logistic issues also impacted, as the crisis of containers and lack of workforce in ports.  The pandemic must also be considered in this scenario. We could conquer our results though, re-passing it to our members,” remarks Osvaldo Bachião Filho, Vice-president Director of Cooxupé.

Production and profile of members

In 2021 Cooxupé’s members produced 7.49 mln bags of coffee. The cooperative’s action area embraces South, Cerrado and Matas de Minas, in Minas Gerais State, and Média Mogiana in São Paulo State.

From the total 17 thousand members, 97.7% correspond to family farming (mini and small holders). Other producers add to the results as medium, big and mega growers.

Concerning the receipt of coffee in 2021, according to CONAB (Brazilian Supply Company), Cooxupé’s inbound volume represented 18% of Brazilian production of Arabica coffee. Considering the State of Minas Gerais – Brazilian greatest producer of Arabica – the cooperative accounts for 26% of production for the same category.

Investments

Cooxupé’s Financial Statement 2021 also show that the cooperative invested BRL 104.7 mln in infrastructure in the period. Some of the investments were strategic expansions, improvements and adequacies in business units, besides construction of a new modern building for the cooperative’s laboratory. In other words, those investments aimed to provide better services to members and clients.

Cooxupé’s Statement 2021: Roastery

The cooperative’s Roastery produces roasted coffees (ground or whole beans for espresso). As seen in the Financial Statements, with a total production of 12.9 mln Kg in 2021, which represents more than 259 thousand bags of green coffee industrialized, the Roastery facility grew up 39% in new retailer clients, in comparison to active clients in 2020.

Refund

Back in 2019, Cooxupé implemented the PRCI – Programa de Restituição de Capital por Idade (Program of Refund of Capital by Age, in free translation). The program enables members, from 75 years old on, to withdraw their capital quota in cash. Since the beginning of the program the cooperative has refunded BRL 30 mln to members. In 2021, the amount of capital refunded surpassed BRL 5 mln.

“Along the past two years, we’ve faced great challenges from the pandemic, and, mostly, from climate. Nevertheless, the cooperative and its members have overcome all obstacles, as proven by 2021 reports. Certainly, the scenario of valuation of prices in the international market has influenced our results; however, union and confidence from our member producers have allowed Cooxupé to reach progressively higher numbers. 2022 is expected to bring further challenges following past issues like the frost, for instance. By these means, we do recommend our members to be cautious. In spite the market has been offering good opportunities, medium-range sight is necessary for activities to remain steady and strategically planned,” warns Carlos Augusto Rodrigues de Melo, President Director of Cooxupé.