Fintrac Harvest Summer 2009

Fintrac generates $43.5 million in new sales

LA LIMA, Honduras — Since July 2005, Fintrac’s team on the USAID-funded Rural Economic Diversification (RED) program has made great strides in increasing incomes and employment opportunities in rural Honduras. At the end of 2008, the program hit some major milestones.

Through 2008, the program’s lead clients increased their annual sales by $43.5 million and since its inception the program has created 4,541 full-time equivalent jobs, most of which (4,058) are on grower farms and the rest in processing plants.

The program has also trained more than 35,000 participants and other entrepreneurs in production, food safety, postharvest handling, marketing and processing. And it’s paying off.

In San Marcos de Colón, Choluteca, onion production was so small it only reached local markets. RED identified regional demand and helped farmers in the area improve yields and quality. Today, San Marcos de Colón is known for high quality onions and is frequently visited by Salvadoran, Nicaraguan and Honduran buyers. More than 4.5 million pounds of onions have been produced in Choluteca because of project assistance.

“The technical assistance from the project has been very valuable to us and it has opened our eyes in regard to production techniques and knowledge about the crop,” said Marvin Ríos, a farmer in the region.

In Copán, Fintrac client jalapeño growers increased their market share in Honduran, Guatemalan and Salvadoran markets. In 2005, about 3 million pounds were produced in this department and average yields were 100,000 pounds per hectare. In 2008, more than 5 million pounds were produced and yields increased to 150,000 per hectare. Rene Vidal started planting jalapeños in October 2006 under Fintrac RED’s guidance. After following all program recommendations, Vidal harvested 491,844 pounds of jalapeños on two hectares and became the region’s top producer. His profit that year was $63,406.

Fintrac’s RED program is scheduled to run through September 2010.