Peru

Alicorp S.A.A.

Illuminating forest risk investments and ownership structures in Alicorp S.A.A., a major player in the Peruvian palm oil sector

Company overview

Alicorp SAA engages in the manufacture and distribution of consumer products. It operates through the following business units: Massive Consume, B2B, and Aquaculture and Others.

The Massive Consumer segment covers chocolates, noodles, detergents, soaps, and flours. The B2B segment includes oils, butter, margarines, and salsas. The Aquaculture and Others segment deals in nutritional solutions. The company was founded on July 16, 1956 and is headquartered in Callao, Peru.

Alicorp S.A.A. has been a member of the Roundtable on Sustainable Palm Oil (RSPO) since January 2017, though it does not have a No Deforestation, No Peat, No Exploitation (NDPE) policy in place. Complaints against the company were submitted to the RSPO in 2019 after it did not address known flows of unsustainable palm oil in its own supply chain. 

Alicorp S.A.A. sources the vast majority of its palm oil from JUNPALMA and Grupo Palmas, which combined represent 90 percent of planted oil palm in Peru. JUNPALMA’s oil palm growers are primarily based in the regions of Loreto, San Martin, Ucayali and Huánuco.

Alicorp S.A.A. outstanding loan amounts by maturity date (USD million)

Alicorp S.A.A. Financier2020202120222023202520262027 + Total 
Scotiabank Peru             316                                                                                                 316
Bank of America                                                             263                                                       263
Bank of Tokyo                                            212                                                                     212
Credit Bank of Peru               93                                                                                      101             194
Banco Sabadell                                              159                                                                            159
Sumitomo Mitsui Banking Corp             135                                                                                                      135
Bank of Nova Scotia                                                 54                                                                            54
Sumitomo Mitsui Banking Corp                                           54                                                                         54
Banco Internacional SA               33                                                                                                      33
Citibank               33                                                                                                     33
Banco Internacional SA                               29                                                                                        29
JP Morgan Chase & Co                                           28                                                                       28
Banco Mercantil Santa Cruz SA               22                                                                                                      22
Banco Bisa                                                                       20                                              20
Banco Economico                                                                                     11                             11
Banco De Credito De Bolivia                                                         11                                                         11
Banco Nacional De Bolivia               11                                                                                                   11
BDMG                                                            11                                                         11
Banco Ganadero                 7                                                                                                     7
Banco De Credito Del Peru                 6                                                                                                     6
Banco FIE                 5                                                                                                     5
Banco Union                 2                                                                                                     2
Bank of Brazil                               1                                                                                       1
Banco Do Brasil                               1                                                                                       1
Other                                                         36                                                1               38
Total outstanding loan amounts             710               30             508             332               41               22             102          1,744

Quick facts


Lucida forest risk commodity: Palm oil


Forest risk country: Peru


Market cap: USD 7.2 billion


Palm oil sourcing: 90 percent from Junta Nacional de Palma Aceitera del Peru (JUNPALMA)


Products: Consumer goods and food products


Source: Chain Reaction Research, RSPO, Forest 500

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