August 20, 2024

 

Philippines firm eyes expansion into protein sector, including meat, eggs, and aquaculture

Philippines-based Metro Pacific Agro Ventures Inc (MPAV) is exploring opportunities for expansion into various protein business segments, including meat, eggs, and aquaculture, according to its President and chief executive officer, Jovy I Hernandez, BusinessWorld reported.

 

Speaking during a briefing in Pasig city, Hernandez highlighted the company's strategy to diversify and enhance the Filipino food plate.

 

"Meat, eggs, or aquaculture — all of those are very interesting areas for us," Hernandez said. He added that the company seeks to implement technology that can increase yield across these sectors.

 

MPAV, the agriculture arm of Metro Pacific Investments Corp (MPIC), is considering expanding into meat production while carefully managing risks posed by animal diseases. Hernandez noted that the company remains cautious due to the ongoing challenges of African swine fever (ASF) in pork and bird flu in chicken.

 

The egg business also caught the company's attention, with Hernandez describing it as an area of interest for potential future investment.

 

MPAV currently operates in several sectors, including vegetable production, coconut processing and export, integrated dairy processing, and ice cream production under the Carmen's Best brand. The company is aiming for self-sufficiency in milk production by 2026, thanks to its recent investments in the dairy industry.

 

To support this goal, MPAV recently acquired 100% ownership of Universal Harvester Dairy Farms Inc (UHDFI) for over PHP 700 million (US$12.3 million). UHDFI operates under the Bukidnon Milk Co brand and has a presence in the Visayas and Mindanao markets.

 

Additionally, MPAV expects its Metro Pacific Dairy Farms facility in Laguna to become operational by the first quarter of 2025. The company also acquired a controlling stake in The Laguna Creamery Inc, the owner of Carmen's Best ice cream and Holly's Milk brands, in 2022.

 

MPIC, MPAV's parent company, is one of three key Philippine units of First Pacific, alongside Philex Mining Corp. and PLDT Inc. Hastings Holdings Inc, a unit of the PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings Inc, has a majority share in BusinessWorld through the Philippine Star Group, which it controls.

 

-      BusinessWorld