MANILA, Philippines - Charoen Pokhand Foods (CPF) Philippines Corp. plans to invest a total of $120 million in the Philippine agribusiness sector over the next three years, according to a company executive.
In a recent industry briefing in Makati City, CPF Philippines finance officer Kasem Manoi said the investment would be made in agro-industrial businesses such as livestock growing and aquaculture focusing on shrimp and fish.
“We are investing this money to expand our livestock and aquaculture business in the next three years,†said Manoi, adding that the company views the Philippines as an important growth area for CPF’s business interests.
Manoi said the additional investments are for the expanions of the company’s livestock and poultry business in Pampanga.
CPF will also plans to boost the operation for shrimp hatchery and fish culture in Luzon, Visayas and Mindanao, he added.
CPF Philippines Corporation is a subsidiary of Charoen Pokphand Foods Public Company Limited, whose agro-industrial business includes animal farming and food manufacturing in Thailand and overseas.
CPF Philippines Corporation was established in 2007, starting with a shrimp hatchery.
It now has two core business lines: livestock which comprises broiler, layer and swine, and aquaculture mainly focusing on shrimp and fish.
The products in each of these two business lines can be classified into three main categories, namely animal feed, meat (including live animal) and cooked meat and ready-to-eat food products..
The company has operations in Luzon, Visayas and Mindanao.