Metro Pacific farm unit to focus on dairy brand

METRO Pacific Investments Corp.’s (MPIC) agriculture arm Metro Pacific Agro Ventures, Inc. (MPAV) will focus more on its dairy business as it saw a big demand for its ice cream brand, a company official said.

“Primarily, we have been focused on Carmen’s Best. We were surprised that the ice cream business is growing more than 50% year on year, so we want to push more,” MPAV President and Chief Executive Officer Jovy I. Hernandez told reporters on the sidelines of the company’s annual stockholders’ meeting last week.

He added that the company is partnering with other dairy farmers to alleviate the scarcity of milk.

“We are also very adamant in pushing for the new dairy facility,” he said. “We are still pursuing the Metro Pacific dairy farms, which will eventually have at least 1,000 cows.”

He said the facility would increase production by five times.

“And we also continue to work with the local farmers, so when we consolidate that mas marami nang supply ng milk (there would be more milk supply),” he added.

The company announced earlier this year that it aims to build a dairy facility in Laguna which will produce about six million liters of milk per year. The facility is expected to begin operation by late 2025 or early 2026. It is via a P2-billion partnership with Israel-based firm LR Group.

“We are still planning a few new things within the year, which we will announce soon, particularly on the ice cream side,” Mr. Hernandez said.

MPIC has a partnership with the Carmen’s Best group, which consists of Carmen’s Best Dairy Products, Inc., Carmen’s Best International Dairy Co., Inc., Real Fresh Dairy Farms, Inc., and The Laguna Creamery, Inc.

Meanwhile, Mr. Hernandez said the company’s almost P1-billion investment in a greenhouse had met construction delays.

“But we are working double time now to hasten the construction,” he said.

The greenhouse is expected to produce about 1,600 metric tons of vegetables a year.

MPIC through MPAV has been investing in various agricultural ventures with the recent purchase of an almost 34.76% stake in Axelum Resources Corp. for P5.32 billion.

“While we are still a minority in Axelum, we are closely working with [its] management to try to not only improve the business but develop the local market for coconut products, and we are primarily interested in looking at the coconut supply also,” Mr. Hernandez said.

MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT Inc.

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