Cargill to invest US$235m in 2 years in Philippines to grow business

ASIA – Cargill has said that it has lined up US$235 million (PHP 12.5 billion) in growing its business in the Philippines in the next 2 years.

The company said this is poised to help meet increased domestic demand for chicken and pork, as well as delivering solutions in key areas of the global agricultural supply chain.

“We are proud to have been in the Philippines since we started our business here 70 years ago.

Working closely with the government, our customers, partners and the community, we are helping farmers thrive and are bringing safe and nutritious food to Filipino tables.

We are grateful for our partnership with the Philippines government as they welcome investments that enable Cargill to grow alongside the Filipino people and the local economy,” said Dave MacLennan, chairman and CEO of Cargill.

This was revealed even as Cargill marks 70th anniversary in the country, proving its resilience in grain and agricultural trading.

The company launched in the Philippines in 1948, also marking its entry into the Asia Pacific region.

Last year, Cargill and Jollibee Foods Corp, the largest Asian foodservice company formed a joint venture C-Joy to process chicken for domestic consumption.

Cargill employs 2,200 employees across 27 locations in the Philippines.

Farmer initiative

Additionally, Cargill will contribute US$130,000 to support the Inclusive Business Capacity Building Fund which aims to enhance productivity and capacity of farmers in the country.

“Supporting the Inclusive Business Capacity Building Fund is another way we can help the world build food security.

Smallholder farmers are an essential piece of feeding nearly 10 billion people by 2050 and they need all the help they can get to become more productive and profitable.

I am also particularly pleased to see that this program also focuses on advancing women in agriculture,” said MacLennan.

C-Joy has joined the Inclusive Business Model Investment Program of the Board of Investments (BoI) to improve the lives of 300 farmers, 30% of whom are women.

This complements its chicken and pork farmer training program in the Philippines which educates farmers on best farming practices to increase their productivity and profitability.

Cargill works closely with the Philippine Coconut Authority (PCA) and the Agricultural Training Institute (ATI) to help increase incomes of smallholder coconut farmers in the Philippines.

It also runs a joint program with GIZ, BASF, and P&G farmers improve their productivity and become more sustainable, enabling them receive sustainability certifications from the Rainforest Alliance.

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