May 27, 2024

Chareon Pokphand Foods partners with Laoag, Philippines cooperative to launch modern shrimp farm

Thai company, Chareon Pokphand Foods (CPF), is partnering with the Government of Laoag Employees Development Cooperative (GLEDCO) to establish a modern shrimp farm in the coastal village of Cataban, Laoag city in Ilocos Norte province, Philippines, Philippine News Agency reported.

The project, to be located on a three-hectare site, will be financed by Landbank of the Philippines (LandBank) with a PHP 50 million (US$859,000) loan.

Edgar Pascual, chief executive officer of GLEDCO, said this venture is GLEDCO's support to the call of President Ferdinand R Marcos Jr for cooperatives to venture into food security programmes in the locality.

Pascual indicated that operations are expected to commence in three months, following the completion of phase 1 of the project. Once fully operational, the GLEDCO shrimp farm aims to raise 100 tons of shrimp annually to meet the high demand for fresh and high-quality seafood in the Ilocos Region, while also generating more livelihood opportunities for locals.

CPF operates an integrated agro-industrial and food business, including livestock and aquaculture such as swine, broiler, layer, duck, shrimp, and fish. The company is known for developing its white shrimp (Vannamei) breed from high-quality parent stocks.

The shrimp technology of CPF will be adopted by the Laoag shrimp farm, with the provision of technical assistance and other inputs.

Laoag City Mayor Michael Keon expressed optimism that the collaborative venture will generate employment opportunities for the locals and escalate the demand for world-class shrimp from restaurants and food processing centres.

-      Philippine News Agency