Cargill bullish on Philippine prospect

MANILA, Philippines - The local unit of US-based agro-industrial firm Cargill is on the lookout for new investments particularly in the Visayas and Mindanao.

Cargill Philippines Inc. president Philip Soliven said the company remains optimistic about its businesses, which comprise animal nutrition, poultry processing, grains and oils, and food and beverage.

“Philippines is a very attractive location for the company. We are continuously looking for additional investments particularly in Visayas and Mindanao. We are aware of security concerns but Mindanao is a very important area for agriculture in the country,” Soliven said in a briefing yesterday.

Soliven said Cargill posted an annual growth rate of 11 percent in the past 10 years.

Last year, Cargill opened the largest poultry processing plant in the country in partnership with Jollibee Foods Corp.

Cargill said it would remain focused on the domestic market.

The company is a leading animal nutrition supplier particularly in swine, poultry, aqua feed and premix solution. It also supplies grain and meal, both in the feed and food industries.

The company offers food and beverage ingredients including starches, sweeteners and texturizing ingredients. It operates a joint venture carageenan production plant in Laguna with the Philippine Bio Industries Inc.