ASIA – The American grain and agricultural trading corporation, Cargill has announced that it is committed to invest more than US$70 million in poultry and seafood in Thailand over the next two years.
The investment aims to meet global demand and increasing consumption of the products while addressing the company’s innovation strategy.
Cargill is looking to leverage in technology implementation in the poultry supply chain with modern initiatives to address both partner and consumer needs.
With the funding, the company will invest in a Technology Application Center for research and development for the aquaculture industry and the expansion of a cooked poultry facility in Nakornratchasima, in North-eastern Thailand.
The company will also upgrade and refurbish an aqua feed production plant located in Petchaburi.
“These planned investments demonstrate our commitment to the communities and people of Thailand.
We appreciate the Thai government’s support of direct foreign investment which has allowed companies like Cargill to grow with the Thai economy and community over the last 50 years.
By investing in technology innovation, we can make our supply chains as efficient and sustainable as possible as we work to nourish those in Thailand and around the world,” said Dave MacLennan, chairman and CEO of Cargill.
Poultry business forms nearly 80% of the company’s operations in Thailand where it processes, distributes and markets a wide range of products including agricultural commodities, animal feed, poultry products and food and beverage ingredients.
Cargill has 14 locations throughout Thailand and employ over 17,000 people.
As part of its continued commitment to Thailand, Cargill will invest in the local community including equipping more than 1,500 farmers with agricultural technical knowledge and training.
The company also works with local partners such as Save the Children Thailand to create nutrition initiatives for school-aged children.
This year in August, the Minnesota based giant invested in a new technology application centre dedicated to aquaculture.
The agribusiness has built new processing plants in Nicaragua, the Philippines, Thailand, China and the United Kingdom.
The company has marked its 50th anniversary in Thailand.