Century Pacific posts remarkable growth in 2020

MANILA, Philippines — Century Pacific Foods Inc., the country’s largest canned food manufacturer, is looking at a growth target of 10 percent this year, lower than the 20 percent growth posted in 2020 as it foresees some headwinds due to the challenges from the COVID-19 pandemic that continue to haunt businesses.

“We are confident that we are able to set a comfortable base to grow 10 percent, even if internally, we set our ambitions higher although that still remains to be seen what with the challenges we are facing,” Gregory Banzon, Century Pacific Foods executive vice president, said. “The remarkable growth in 2020 is attributed to the significant increases in demand during the lockdown for both local and export market.” he added.

The company, however, would maintain its capital spending of P2 billion, the same level in 2020, to expand production and meet growing demand.

This year’s growth is expected to be pushed by its increasing presence in their international markets, including Russia and Africa and the robust business in the EU given the benefits it is currently enjoying for its tuna products under the EU-GSP Plus regime.

The EU market is expected to grow a high double-digit this year as they continue to expand to take advantage of opportunities to serve not just the ethnic market, but also to cross over the mainstream market. There is an increasing demand for Filipino food items overseas.

Century is present in 40 countries in the EU, serving a good mix of ethnic and mainstream customers. In the Middle East, it has its strongest presence in UAE and Israel. They were also able to enter the African Union through the COVID relief program and is now building its presence in the region.

The company has a strong solid supply chain and logistics to serve all the demands during the pandemic. In fact, despite the pandemic, Century Pacific opened its third plant in General Santos City that created job opportunities to 1,600 Filipinos.

Century has 83 percent market share in canned tuna in the country, 54 percent in canned meat and 20 percent in milk. Its major labels are Century Tuna, 555 Sardines, Argentina, and milk products Angel, Birch Tree, and the latest coconut milk Coco Mama.

Due to the ongoing tremendous challenges facing businesses, Banzon said Century Pacific Foods steadily maintains its business strategy to be able to grow in all markets and optimize presence in the US and North America and Asia.