Cooxupé passes on R$77 million to members

Cooxupé (Regional Cooperative of Coffee Growers in Guaxupé) is passing on to its members a total of R$ 77,1 million relating to participation in the cooperative's results obtained in 2019, also including the Restitution Program implemented at the end of last year. The Ordinary General Assembly (AGO), which presented the final balance of 2019, took place this Friday, the 29th.

In total, the distributions involve more than R$57,8 million relating to 2019 results and more than R$19,3 million for the payment of the PRCI (Capital Restitution by Age Program) implemented at the end of last year.

Each producer's receipt varies according to the proportion of specific operations carried out with Cooxupé during the year, following the cooperative's statutory rules. However, the amounts are already being injected into the economy of Cooxupé's areas of operation through transfers to cooperative members.

According to the president of Cooxupé, Carlos Augusto Rodrigues de Melo, the distribution in kind comes at a good time, contributing to the economy of the regions where the cooperative members are located.

"Since the end of last year we have been collaborating with the economy and with our members through our capital quota refund program, benefiting members over 75 years old. In April this year, with the pandemic, we decided to bring forward the distribution to our producers of a part of the leftovers from 2019. And today, with the AGM, we will allocate the final part of the leftovers to our members. All of our measures, from December to now, result in a distribution of R$ 77,1 million throughout our area of ​​action", explains Melo.

Balance Sheet 2019

The 2019 balance sheet, approved by the cooperative's Supervisory Board, at the Ordinary General Meeting, held this Friday (29/05), and audited without reservations by PWC, recorded revenue of R$4,2 billion. In 2018, the value was R$3,793 billion.

In relation to commercial performance, the balance shows that the cooperative received 5,1 million bags of Arabica coffee and shipped 6,4 million for the domestic and foreign markets, with 5,4 million bags for exports alone, serving more than 50 countries. SMC (Specialty Coffees), a company controlled by Cooxupé operating in the specialty coffee market, exported more than 85 thousand bags.

In 2019, the cooperative also allocated more than R$42 million for investments in expansions, works and renovations.