Vitarich to renew contract with subsidiary to supply feeds for egg-laying chickens in Quezon, Philippines

 

Vitarich Corp. will renew a contract with key subsidiary to supply feeds for breeding egg-laying chickens in Lucban, Quezon, the Philippines.

 

The poultry integrator and manufacturer of animal feeds and food products informed the local bourse that its board had approved the renewal of contracts with Luzon Agriventure Inc. (LAVI).

 

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It pertains to Vitarich's feed supply to LAVI, which in turn supplies its parent firm eggs from its breeder chicken farms in Lucban.

 

 

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The firm disclosed this in compliance with the Securities and Exchange Commission's Memorandum Circular No. 10 and its material related party transaction policy as LAVI is a related party of the corporation.

 

According to Vitarich, the total estimated amount of transactions will likely reach the materiality threshold, which is 10 percent of consolidated assets.

 

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READ: Vitarich income surged 547% to P259M

 

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Egg-laying hens

Earlier, Vitarich announced it would exclusively distribute in the Philippines white hens from French breeder Novogen, amid efforts to boost farmers' income and productivity.

 

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READ: Bounty Fresh flexes drug-free birds; Vitarich touts French hens

 

Novogen white hens are known for their high productivity, laying efficiently for more than 100 weeks with up to 470 per cycle. They also exhibit feed efficiency, eggshell strength and adaptability.

 

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"Farmers are increasingly looking to trusted sources to help them increase production and incomes.

 

Founded in 1950, Vitarich operates in three industry segments: feed, farm, and food. It sells feed products to various distributors, dealers and end users nationwide.

 

- Inquirer