Phillippine's poultry branch of Cargill eyes the domestic market
Philip Soliven, President of Cargill Phillippines Inc, explained the new strategy for the company, mentioning that the domestic market looks promising enough to limit the volume of poultry exports, informed local newspaper Business Mirror.
"There is potential in the domestic market if you think about it. The export market, is it necessary for us? Not at all. The market here in the Philippines is attractive and big. Domestic investment is as good as export", declared Philip Soliven in a news briefing on January 18.
Since last year, Cargill Joy Poultry Meats Production, a joint-venture between the food giant and Jollibee Foods Corp, operates the biggest poultry processing facility in the country, with an annual capacity of 45 million chickens, but the American subsidiary is tempted to increase its presence in Philippine.
"If we decide to undertake another investment in the poultry sector…it would be for the domestic market first, and then we’ll see if there is potential in exports. We will make an investment decision this year, but whether it would be bigger than last year, we don’t know yet", explained Soliven.
Cargill is also interested to invest in an agricultural project in the Visayas-Mindanao area, although the region is raising security concerns.
(Photo source: Flickr/USDA)
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