The world's largest blueberry producer and marketer has closed some agricultural operations in Mexico and is recalibrating acreage in Peru and China, with major accounting impairments that resulted in losses of US$59.2 million (about €55 million) as of September.
Breaking news for the berry industry in the continent: Hortifrut, the Chilean blueberry leader, has decided to shut down part of its agricultural operations in Mexico after concluding they were not delivering the expected results.
The move, combined with a varietal replacement process in Peru and China, resulted in an asset impairment of US$80.6 million (about €75 million) and in a loss attributable to the owners of US$59.19 million (about €55 million) as of September 2025, reversing the US$8.77 million (€8.1 million) profit recorded in the previous year.
Strategic decisions and implications
According to the company’s own reasoned analysis submitted to Chile’s Financial Market Commission, the impairment mainly stems from the closure of certain agricultural operations in Mexico and from the decision to replace less profitable orchards with varieties that offer better yields or higher market prices.
According to international media reports, this is seen as a structural adjustment that strongly impacts the company’s equity in the short term, but aims to reposition it under better competitive conditions going forward.
For fruit growers and exporters, this sends a message: first, the berry business no longer tolerates mediocre projects. You either compete with top genetics, productivity and logistical efficiency, or the market hands you the bill.
Mexico, a key player in the early window for blueberries and raspberries in North America, now sees one of the major players reorganizing its presence. This may open space for other local or international operators with lighter cost structures or better adaptation to the context.
Varietal renewal as a lever
Second, the varietal renewal that Hortifrut is accelerating in Peru and China confirms a trend already evident in Chilean fields: older varieties with smaller calibers or weaker postharvest performance are giving way to materials with stronger market acceptance and higher yields per hectare.
In a scenario of rising costs, regulatory pressure and more demanding consumers, genetics becomes a central variable of the business, both in the fresh and frozen segments.
Although the September closure figures appear harsh, the operational performance shows signs of resilience: cumulative EBITDA slightly increased compared to the previous year, supported by higher volumes and efficiency gains.
A message to the industry
For growers linked to Hortifrut, inside and outside Mexico, the takeaway is clear: the company is willing to make difficult decisions today to maintain its position in a saturated market where new countries are gaining ground.
For the rest of Latin American fruit production, the case serves as a reminder: scale alone is no longer enough; profitability per hectare, site selection and the varietal portfolio will be the real survival factors.
Source text and image: www.diariofruticola.cl
