P2.4B investment in poultry projects seen to boost agri-business
The Board of Investments (BOI) recently registered two agribusiness projects worth P2.4B to boost the country’s poultry production.
BOI has approved the P2.32B integrated production project of Thai-owned Charoen Pokphand (CP) and the P127.1M project of Filipino company United BLC.
The CP project will include parent stock farms in Tarlac and Pangasinan as well as six broiler farms in Bulacan and Nueva Ecija. The farms are expected to produce up to 21, 847 metric tons annually and will begin its operations in February 2013. This is the third big-ticket project of CP following its recent investment in aqua feeds and breeder or slaughter hogs.
Meanwhile, United BLC plans to expand its existing hatchery in the country. The project involves the procurement of fifteen (15) modern hatchery equipment to help increase the plant’s production efficiency by 25%.
The United BLC 10,000 square meter hatchery project will be located in Indang, Cavite and will be leased exclusively by Tyson Agro-Ventures Inc., one of the country’s leading broiler chicken producers. The plant will have an annual capacity of 26,952,000 chickens. Commercial production will begin on January 2013.
Data from the Department of Agriculture (DA) showed that during the first half of 2012, the country’s chicken population reached 169.97 million, a nearly 3 percent improvement from the same period of the previous year. Chicken production value also went up by 3 percent during the same period, while chicken egg production grew by over 10%.
Agriculture and agribusiness are among the investment activities listed under the Investment Priorities Plan (IPP) 2012, an annual investment list for promotions.
Agriculture contributed 11% to the country’s gross domestic product (GDP) in 2011 and employed 12 million workers. Of this share, poultry production accounts for 11%, according to the Philippine Bureau of Agricultural Statistics. (End)