The investment will drive the expansion of Cargill’s animal feed and nutrition business and agricultural supply chain businesses. It will also support the growth of joint venture C-Joy to deliver on increasing consumer demand for its chicken products.
The company has also contributed $130,000 to support the Inclusive Business Capacity Building Fund to help Filipino farmers become more successful.
“We are proud to have been in the Philippines since we started our business here 70 years ago. Working closely with the government, our customers, partners and the community, we are helping farmers thrive and are bringing safe and nutritious food to Filipino tables. We are grateful for our partnership with the Philippines government as they welcome investments that enable Cargill to grow alongside the Filipino people and the local economy,” said Dave MacLennan, chief executive of Cargill, during his visit to the region this week.
The company opened its first office in the country in 1948, which also marked the company’s first office in the Asia Pacific region. It employs 2,200 employees across 27 locations in the Philippines. One year ago it formed C-Joy – a joint venture with Jollibee Foods Corporation – to process chicken for domestic consumption.