Bryan Giles: Yes. I think to kind of follow-up on Steve’s point, the farms down in Peru, I think that those numbers equate to somewhere close to a 10% increase in production year-over-year. And if you take into account for the smaller size curve, in terms of piece count on the trees, it’s actually much higher. Then the increase is even more significant year-over-year. I think some of this is continued maturity of existing farms. While many of our farms are – I mean, our oldest farms are up to about a little over 10 years now. Those ones have been mature, but we still have a number of other farms that are more in the 5 to 6-year range, where we’re still seeing an uptick in yields per hector each year. That number has started to level off, and I don’t expect to see continued significant growth, but we did still see some benefits, some pick up this year.
And we had a little bit of new acreage, again, that was still coming into production. So that being said, I think we’re pretty happy with where the yields are at, where the sizes are at. I think we had a better production off of our northern farms up in the almost region this year as well. So all in all, Peru produce tracking well. I think if you talk about some of our other farms, Guatemala, we have our farming assets down there. We are expecting. While none of those farms are actually going to move into a productive state and start generating profits in fiscal ‘24, we will start to see some fruit come off those trees that we will be marketing. I don’t have – they aren’t meaningful amounts yet by any means, but this is just the beginning of kind of that transition into having year-round supply of our own production.
I believe that this initial Guatemala production will come off in Q1 of fiscal ‘24. Again, small quantities this year, and we will supplement it with third-party sourcing that we are going to be doing out of Guatemala as well. And a lot of that fruit will go into European and/or Asian markets. Colombia, a similar situation there, we have the joint venture down in Colombia, about 900 hectares of trees that have been planted. We will start to see a small amount of productivity this year with that ramping up little bit more in 2025 and probably 2026 before they reach full production. I think just the growing environment and the conditions are a little bit different in Colombia than in Guatemala. And then therefore, like the cycle from tree planning to reach a maturity is likely to take a little bit longer there than what we are seeing in Guatemala.
Benjamin Bienvenu: Very helpful color. Thanks so much. Best of luck.
Steve Barnard: Okay. Thanks Ben.
Bryan Giles: Thanks Ben.
Operator: Our next question comes from the line of Tom Palmer with JPMorgan. Please proceed with your question.
Tom Palmer: Hey. Good afternoon. Thanks for the question.
Steve Barnard: Hi Tom.
Tom Palmer: Maybe just follow-up, and I really appreciate all the detail on the farming side. How does this net out, I guess as we think about the year? And I know there are a lot of moving parts, but we see avocado prices are down meaningfully, but it sounds like quality is a lot better. The cost environment is better, harvest volumes are up like, 10% and kind of the midpoint of your outlook. So, I guess how should we be thinking about maybe that EBITDA outlook for this year in the segment relative to what we have seen in recent years? I mean is it reasonable for instance, to think about some degree of year-over-year step-up even with the lower pricing?
