Agrinurture Inc. said Tuesday it plans to sign a joint venture agreement with a company to establish a pineapple plantation in South Cotabato province.
“We are hoping to enter into a joint venture agreement next year. The one we are talking to has an existing 250-hectare pineapple plantation in South Cotabato, and the owner has additional 200 hectares for expansion, so that’s where we will enter,” said Agrinurture general manager for Farming Larry Lacson.
“We cannot divulge the name of the company yet, because it is still not final. We have to wait until the agreement is signed,” he added.
The unidentified company is supplying banana, pineapple and papaya to Hong Kong, China and the Middle East.
“We still do not have a pineapple plantation. We are just sourcing our pineapple from suppliers, which are the leftovers of multinationals,” Lacson said.
Lacson said the market for the pineapple plantation included China, Russia and the Middle East.
“We were able to start our expansion in banana and by next year, we are hoping to start on pineapple,” he said.
Tagum Resources Agri Industries Inc., a joint venture between Best Choice Harvest Agricultural Corp. and Hijo Resources Corp., earlier signed a long-term lease contract covering 294 hectares of banana plantation with a cooperative in Tagum, Davao del Norte.
Best Choice is a wholly-owned unit of Agrinurture.
Agrinurture said the lease contract would allow Tagum Resources to independently operate the 294-hectare banana plantation for a minimum of 25 years.
“This move increased the total banana area of TRAIn to 471 hectares with a potential to harvest 2.3 million boxes of Cavendish banana yearly,” Agrinurture said.
It said it also planned to export the produce to Russia, China and the Middle East.
Agrinurture in the last three years has been exporting bananas from independent growers and expects to receive higher volume from well-managed farms to assure quality.
Agrinurture said it planned to look for more banana plantations to serve its increasing number of buyers abroad.