An increase in international markets for 66-year-old local manufacturing company Bello, will not only result in price increases for farmers for their produce, but will allow company expansion and equipment upgrades in the company.
Managing Director of Bello, Michael Fagan, told a press conference this morning that the company is looking to launch the Bello brand in several states in the US and Europe by year-end as a result of the increase in markets.
“At this time there is a number of increased market opportunities for the Bello brand in North America, Europe as well as the wider world. We are launching in New York, in Miami, in London and Houston under the Bello brand by year-end,” he said.
Fagan said that this greater sense of urgency for Dominican raw materials will expand the fresh and market food sector and that this is expected to allow the company to upgrade the equipment and increase employment. “The medium term goal is to replace some of the older equipment we have little by little…With the increased amount of volume that we will be doing, there are plans in place to increase our production output and therefore we will be needing new equipment. We would be replacing them as the cash flow comes available,” he stated.
“As the company grows we intend to increase employment, we tend to increase the number of farmers that we are buying from. We intend to increase the range of items that we are buying from. You should start seeing new products coming from us in the very near term,” he said.
Fagan noted that while the company has raised its rates to farmers, prices will tend to fluctuate depending on supply and demand. “If the supply is high and the demand is low, you can’t expect the same price that you will get every time, so we want to benefit the community but the prices will fluctuate according to supply and demand,” he said.
He assured consumers that prices will not increase on the shelves despite the increase in the cost of raw materials. “We did have a price increase recently and the reason that we had a price increase is because for years we never had one and there was an increase in energy costs, increase in shipping, increase in raw material costs.
“So therefore we could not continue to sustain that and in some cases we weren’t even breaking even in some of the items that we sell. So we increased pricing moderately so that at the end of the day that we can make some type of profit and contribution so we can pay the people who work for us,” he said.
Fagan hopes that the cost of production does not skyrocket.
The new value increases for farmers have been effective from August 1, 2010 and Fagan said that the supply of limes have bettered since then. “Since we have been publishing the new prices, we’ve had an increase in the amount of limes that we’re picking up. And it’s not nearly anywhere near the amount that we intend to buy from the market but it’s a start,” the managing director said.
Fagan hopes that there will be even more fruits and vegetable in the coming months as the company will seek to conduct several educational programs in farming communities soon. He is convinced that the quality of raw materials here are far superior to that of some developed countries.
Bello is seeking to build stronger relationship with the Dominican farmers and government, Fagan said.
He sees the government as a partner in the initiative.
How many times has Bello launched their products in the US without success? How many times have they tried to launch their products on the European market without success? What are they doing wrong that after all these years still nothing is happening, not even in the Caribbean markets?
Where in NY can I find your products??? I need me some hot sauce!!
Great news! Since it is now 2011, where can I buy Bello Passion Fruit Syrup in the US??
Michael,
make sure your marketing people do their homework. Food standards are pretty stringent in the UK and even issues which are considered as paltry in the industry can be used to keep your products off the shelves.
For example I noticed that you are still using imperial quantities on your labels. Those should be metric and be especially careful and honest in your ingredients list and calorific values.
Here to help anytime!!!
Thanks for all the well wishes and constructive advice! We are happy and hope you can continue supporting the brand in our existing markets and the new markets from day 1, as our distributors and retailers need to see movement and support from the Diaspora and wider market to keep it on their shelves. Always remeber, We are one of the few Dominican Company’s left with market access, supporting 1000’s of farmers and farm families since 1944. So we have touched all sectors of the economy in some way, shape and form, incuding earning foreign exchange, creating employment and adding value to local raw materials. Therefore the best you can do to support your country during this global economic slow down is to support the brand. Thanks for your continued support and we look forward to developing into a world wide brand leader with your continued and renewed commitment to the success of the partnership between farmer, governement and Agroprocessor. We truly appreciate you!
I am tired of trying to order Bello online so please let me know where in NY Bello products will be sold.
Great news. I remember growing up and loving Bello products. We need more companies based in Dominica to go to such levels. Not only will they sell their products, it is a good way to market Dominica on a whole.
Way to go BELLO, looking to get my hot sauce and other products.
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I deal with companies who sell to the Walmarts and Home Depots of the world. You do not want Bello selling through them for a variety of reasons.
(1) The volume will be way too large for them to supply.
(2) The penalties for late shipments and defective goods is too large.
(3) The price at which you will be required to sell them the products will be too low to make this viable. Walmart is notorious for squeezing the life out of their suppliers.
I am extremely excited about this. Can’t wait to have my passion fruit and tambarine syrup/juice, etc year round. Also happy that this will help our local farmers who supply Bello with their raw materials.
Looking forward in picking up one at the stores here in the U.S maybe even Walmart…
Great move and news. This will not only help our agri sector but also help out tourism sector. Those out there will start knowing the difference between Dominica and dominican republic!
Good job Michael….I’m looking forward to buying Bello products at a supermarket near me.
very good i cannot wait………..
Way to go Bello! Next we would like to see you have a global market share.
Many years ago I tried unsuccessfully, to establish a Bello distributorship in New York, but the company didn’t respond to my outreach. So this is something near and dear to my heart. I was always impressed with the Bello brand, especailly the hot sauce, but have grown to appreciate other brands over time.Let’s hope they can win me back.
So who will be carrying Bello’s product line in the Big Apple? Just curious.
Big shout out to the BELLO crew working behind the scences – The Dominiques and all the administrative staff, Lester and your crew, keep Dominica on the map and continue doing a great job!!
I only hope they can maintain their position on the American market. They need to differentiate themselves from the me-too products we see on the shelves. They need to take a page from Starbuck’s book. Going head to head with other more established products would not be the best marketing strategy.
Americans like things large and cheap. Cut yourself a nice niche at teh upper end of the market and you will reap good rewards. One thing they will need to do is make sure they maintain the quality of the product.
Oh, having good product liability insurance would not hurt. At some point, some person is going to complain of some stomach cramp and will want to launch a lawsuit against them.