Founded in 2015, Shared-X is an innovative agriculture company aiming to close the yield gap in developing counties. It owns main farms in Peru and the Dominican Republic and develops satellite farms with smallholder farmers to participate in the value chain.
Shared-X employs advanced cultivation techniques to improve yields and product quality. The company focuses on high-value crops combining those that start producing fast and have minimum seasonality (organic banana and pineapple) to ensure constant cash flow with others that have pronounced seasonality and take several years to reach target production yields (specialty coffee and cacao).
In 2017 GBF, committed an investment to finance the development of an organic pineapple plantation and a packing plant in the Dominican Republic.
The company generates economic value for families from under-served communities in three ways:
(1) Direct employment on its fields and packing plants
(2) Purchases from smallholder farmers
(3) Sale of nutrients combined with sharing of best in class sustainable cultivation techniques with farmers to improve their yields and incomes.
From January 2019 to December 2019 the company employed 842 people on its fields and packing plants and purchased from 372 small farmers. In total, the company generated an estimated income of $3.6M to workers and farmers.
In addition, the company sold nutrients and technical assistance to 118 small farmers, each farmer generated additional income of $448/ha through yield and quality improvements; total estimated additional income to farmers is $491K.
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