PHILIPPINES - The Department of Agriculture is expecting considerable investments in the country's poultry sector in 2015.
Encouraged by strong domestic demand and the opening of new foreign markets for poultry products, new and exiting investors in the broiler and layer business are expected to pour in PHP500 million (around US$11.2 million) worth of investments next year, the Department of Agriculture has said.
Philippines Star reports that the Agriculture undersecretary for livestock, Jose Reaño, said the bulk of the investment volume would be made by local industry players.
He said: “Most of the new projects would be put up north of Manila. Some of the projects have started a few months ago.”
Without identifying the companies, Mr Reaño said a foreign investor is also expected to come in next year.
“We have a very vibrant poultry industry,” he said.
Mr Reaño told the newspaper that, as well as strong domestic demand, poultry growers also want to take advantage of strong demand for chicken in South Korea, Japan and the Middle East.
He said: “We can’t cope with South Korea’s demand although we are accredited and we are also negotiating with Japan and working out the Middle East market.”
In 2014, the chicken processing plants of San Miguel Corp. in Quezon province passed the sanitary and phytosanitary requirements of United Arab Emirates but the company is still awaiting halal pre-qualification before it can proceed with exportation.
Last year, Bountry Fresh gained accreditation from the Korean Quarantine Inspection Agency for chicken exports after the inspection of its dressing plant in Pulilan, Bulacan.
The Philippines also wants to increase its poultry exports to Japan, which is already importing yakitori nuggets from the country.
The Philippine poultry sector remains in good condition as it continues to be free from avian influenza that has plagued the poultry industries of neighbouring Asian countries like South Korea, Hong Kong and China, adds the Philippines Star report.ThePoultrySite News Desk
Top image via Shutterstock