Seafood News - Industry Events - Seafood Market

Inquirer News Service    4/04/2005 10:53:16

Ronnel W. DomingoA Thai agrobusiness conglomerate, the Charoen Pokphand group, plans to invest some 49 million dollars in an integrated prawn farm in Bacolod city.

Charoen's investment is part of the group's plan to expand its production bases and serve more markets abroad, according to trade undersecretary Elmer C. Hernandez.

Hernandez, who is also managing head of the Board of Investments, said in an interview that the Thai firm's planned venture included growing prawns and processing them for export, as well as production of prawn-based animal feeds.

He said Charoen Pokphand was going into a partnership with local businesses, including the Bacolod-based Sta. Clara Estate Inc., which operates a private commercial laboratory for feed, soil, and water analysis.

The official said the project would be put up on Negros Island--the center of the local prawn culture and export industry.

The output is meant primarily for the Southeast Asian market, but shipments would also be sent to other destinations.

Hernandez said the project was qualified for investment incentives as prawn farming and feedmill production were listed in the Investment Priorities Plan.

The Charoen Pokphand group started in Thailand in 1921 and is involved in the production of vegetable seeds and animal feed as well as poultry breeding and broiler farming.

According to the company's website, its unit Charoen Pokphand Foods Public Co. Ltd., started in the distribution of livestock feed in the southern part of Thailand in 1978. CPF expanded in 1987 to include livestock farming.

In 1988, CPF entered the aquaculture business, particularly in shrimp feed manufacturing and distribution, shrimp culture and processing for export.

CPF became Thailand's largest agrobusiness and food manufacturing company when it completed in 1998 the acquisition of two affiliates engaged in livestock and meat processing.

The company adopted its current name in 1999 in line with the strategy of positioning itself as the "kitchen of the world."

(1 dollar = 54.760 pesos)