The Philippine Board of Investments (BOI) recently approved the application of Thai-owned Charoen Pokphand Foods Philippines Corp. (CPFPC) to raise hog parent stocks and slaughter hogs in the country.
Trade and Industry Undersecretary and BOI Managing Head Adrian S. Cristobal Jr. said the project is envisioned to boost foreign investments in strategic sectors like agribusiness.
“This trend helps balance our investment portfolio, increase opportunities in rural areas and strengthen food security,” Cristobal said.
The PHP 1.352-billion (€24.1m) investment project of CP Foods involves three swine farms: one in Floridablanca, Pampanga, for the production of parent stocks, and two in Concepcion, Tarlac, for the production of breeder stocks and swine.
The company’s parent stock capacity will be 25,450 heads and 3,650 tonnes slaughter hogs once the project starts its commercial operations in 2013.
Feed raw materials
The company’s primary raw materials to be used in manufacturing livestock feeds like corn, soybean, fish meal and other feed ingredients will be sourced from both local and foreign suppliers.
CPFPC is a wholly owned subsidiary of Thailand’s CP Foods PCL, which already has existing business operations in the Philippines, including production and marketing of prawn and fish fries.