Malaysian company interested in banana JV
A MALAYSIAN company is interested in pursuing a joint venture with banana planters in the Philippines to tap the China export market, according to an official of the Malaysian Chamber of Commerce and Industries Philippines Inc (MCCI).
In an interview, MCCI president Edward Ling, said: “There is possibly a company might go into cultivation of banana.” He did not disclose the name of the company.
“Their plan is to initially get about 200 acres of land, to work with the local people,” Mr. Ling said.
According to the Philippine Statistics Authority (PSA), banana production increased 2% year-on-year in the three months to September to 2.43 million metric tons (MT).
PSA said that Davao Region remained the country’s top contributor, with a share of 38.2%, followed by Northern Mindanao with 21.3% and SOCCSKSARGEN with 12.5%.
Mr. Ling said that the potential investor became interested in pursuing the project after the Philippine Investment Forum 2018, which was held in September.
Asked where the bananas would be grown, Mr. Ling said: “It could be in Mindanao, it could be (in Luzon).” -