How Edilberto Becerra made a fortune from spuds

A native of Colombia's capital, Bogotá, Edilberto Becerra made millions bringing premium potatoes to the tropical provinces. James McKeigue reports.

When Edilberto Becerra, 59, moved from Bogot, Colombia's highland capital, to the tropical town of Cali in the southwest, he was struck by one thing: potatoes. Or rather, the way they were sold. In Bogota, it was common to see washed, pre-packed potatoes in supermarkets. But in Cali, they were dumped on the shelves as though freshly dug up.

Convinced of the potential of bringing pre-packaged potatoes to Cali's consumers, he began negotiating buying and selling prices with farmers and supermarkets. The supermarkets liked the idea: pre-packaging "would bring in extra customers and... they could charge more". In 1981, once he was sure of the profit margin between buying the raw potatoes and selling his packaged ones, he borrowed the money to buy the machinery for his new firm, Procosecha (Proharvest). He began supplying supermarkets with washed, pre-packed gourmet potatoes, eventually winning a deal to supply French chain Carrefour's Colombian stores.

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James McKeigue

James graduated from Keele University with a BA (Hons) in English literature and history, and has a certificate in journalism from the NCTJ. James has worked as a freelance journalist in various Latin American countries.He also had a spell at ITV, as welll as wring for Television Business International and covering the European equity markets for the Forbes.com London bureau. James has travelled extensively in emerging markets, reporting for international energy magazines such as Oil and Gas Investor, and institutional publications such as the Commonwealth Business Environment Report. He is currently the managing editor of LatAm INVESTOR, the UK's only Latin American finance magazine.