Citrícola Salteña closed the harvest, paying off the loan ahead of time and paying all the obligations

As a consequence of the good performance of the harvest, Citrícola Salteña ended the year paying off the loan from the Citrícola Fund even ahead of time and paying all its obligations to suppliers and employees in a timely manner. In order to carry out the harvest, the company received disbursements this year for $ 15,400,000 in April, $ 24,900,000 in May and $ 88,400,000 in June.
COMMERCIAL PERFORMANCE
Due to the legal circumstances it is going through this year, Citrícola Salteña operated by paying cash to more than 90% of the suppliers. To this was added that due to the good commercial and financial performance of this harvest, which implied not only an improvement in prices but also that sales were collected faster, in September the fund had already begun to be repaid and by the end of November it would complete the total loan payment. For the first time in years, moreover, the harvest passed without labor disputes. The company was up to date with all salary obligations, and on the 18th of this month it had already paid the corresponding bonuses. At the same time, the seasonal employees are already on leave having collected everything generated such as Christmas bonus, vacation salary and leave, being up to date with the collection of their salaries.
Also in this last harvest, it was possible to carry out in a timely manner all the fertilization treatments and plant cures during the winter and spring. These works covered the almost 2,000 hectares of Citrícola Salteña and just over 3,000 hectares if the leased and associated producers are added. This ensures, except for reasons of force majeure, that in the next harvest of 2021 there will be a better harvest in both quantity and quality.

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