Cargill Philippines remains firm in P12.5-billion expansion plan

CARGILL PHILIPPINES, Inc. remains committed to expand despite the impact of the pandemic on the economy, its top official said, as he laid out the agribusiness firm’s initial projects in the provinces.

In a virtual briefing on Thursday, Cargill Philippines President Sonny Q. Catacutan said the company is firm in its plan to boost its business operations through investments worth P12.5 billion until 2023.

The company previously announced that it had earmarked P12.5 billion as part of its plan to grow its animal feed, and nutrition and agricultural supply chain businesses.

“That investment is now rolling out in different expansion projects such as our plant in General Santos City and other facilities for our poultry business and animal nutrition and health units,” Mr. Catacutan said.

“We have some delays in our expansion plans due to lockdowns, but we remain committed to that investment as we move forward,” he added.

Some of the expansion projects include new businesses such as coconut oil production in General Santos and Davao.

Mr. Catacutan said Cargill Philippines remains committed to continue investing locally, adding that it remains confident in the economy, which he described as one of the most attractive markets in Asia.

“We believe that as the economy grows, our relevance to the food market and in food security becomes even more relevant,” Mr. Catacutan said.

Cargill Philippines has not considered downscaling its operations as a result of the coronavirus disease 2019 pandemic, he said, pointing out plans to expand its animal feeds business in the Visayas and coconut oil production in Mindanao.

Mr. Catacutan also said that the demand for poultry business unit Cargill Joy Poultry Production, Inc., which supplies chicken to Jollibee Foods Corp., has been improving as the holiday season approaches.

“The demand is picking up. We can feel that. As we approach the holidays, we believe that demand will continue to improve,” he said.

“There is a lot of confidence in the poultry market,” he added.

Cargill Philippines has business interests in food production, agriculture, and industrial products and services. Some of its subsidiaries include Cargill Animal Nutrition and Health, Cargill Joy Poultry Production, Cargill Food Ingredients and Bio Industrial Enterprise, and Cargill Grains and Meal. —