Welcome to the LatAm Prime April project update
Since the last available of the 139 investor parcels were reserved as of last month, the team of Grupo Gaitán Cuevas is now fully focused on the timely implementation of Finca Aguas Claras (Chapter Cunday, Fincas Sabileras de Colombia). This includes the expansion and improvements on the infrastructure, the clearing and planting of the available farmland as well as the title transfer process of the individual investor units.
The major difficulty of the clearing phase so far has been the removal of stones and rocks of the virgin land. Due to the arrival of two additional farm machines, a dumper and an excavator with hammer, this process is now speeded up and less manual labor intense. In addition, a new transportation vehicle has been purchased to be able to transport more hijuelos or baby plants from the farm in Fusagasuga to Finca Aguas Claras in Cunday.
The implementation team currently plants daily between 3.500 – 4.500 hijuelos with productivity increasing every month. Since the hijuelos are taken from the fully producing farm in Fusa, they are of very high quality and already large in size, which reduces the time to maturity after planting by about 2-3 months. As a reminder, each hectare of farmland includes 15.000 plants. When maturity is reached after around 24 months, there are 3-4 harvests per year, whereby 4 leaves (Pencas) per harvest can be obtained, at an average weight of 0.75kg each.
For the biodiversity of the plantation, enhancement of the soil as well as for research purposes, Grupo Gaitán Cuevas has also planted the following additional crops at Finca Aguas Claras in Cunday: 1400 Higuerilla plants (Ricinus, castor bean), 600 Banana bushes (Platano), 1200 Sacha Inchi plants (mountain- or Inca Peanut), Neem, 350 Paulownia trees, as well as various citrus trees like lime and mandarin which are common in the area.
Another recent accomplishment has been the completion of the on-site laboratory (located in Fusagasuga), which allows the team to quickly test soil- and water quality, Ph-level, etc. if required without having to transport samples to a laboratory in Bogota and to wait for the test results. It facilitates Grupo Gaitan Cuevas to constantly monitor important parameters of the plantation and react immediately or take corrective action if required. The company also has progressed with the implementation of their Business Intelligence and Resource Planning System (SYNAGRO). This will become more critical once the new farm is closer to production, but the information is constantly gathered, stored and analyzed, and the team is familiarizing and training itself with the software and processes.
All investor lots are already segregated and the plantation map is currently being registered with the planning department of Cunday, where each individual parcel is registered and issued with a matricula- or property registration number. This is a public administrative task and due to the high number of new farmland parcels to be registered, it just takes a bit of time. Once all units are registered, the property titles can be transferred. All investors, that will not be able to go to Colombia to sign the property deeds in person, are required to send a notarized and apostilled Power of Attorney document, which will be provided by LatAm Prime by the time the process is initiated.
For more insights to the project, we recommend to watch the subtitled TV coverage of the farm management company Grupo Gaitan Cuevas here, if you haven´t done so already.
As mentioned previously, the last of the available 139 investor lots have been reserved after plenty of visitors have been touring the farms over the last couple of months. A few more parcels will become available after the integration of a bordering 36-hectare farmland piece later this year. Please contact us to pre-register for the next available investor-phase.