METRO Pacific Investment Corp. announced on Thursday that its new unit, Metro Pacific Agro Ventures , and Israel’s LR Group are investing P2 billion for the expansion of its existing dairy business.
With MPAV’s establishment of Metro Pacific Dairy Farms in cooperation with the LR Group, the Province of Laguna, the University of the Philippines-Los Baños, the Department of Trade and Industry, and the National Dairy Authority, “a better, fresher Philippine dairy industry will be made possible,” it added.
MPAV was set up by MPIC to be the arm that will drive all agricultural endeavors and the ambition to develop the food sufficiency of the Philippines’ agricultural sector, starting with the growth of Philippine dairy as an industry, according to the company.MPAV noted that the Philippines imports a little over 2.8 million metric tons or 99% of its milk and milk by products due to poor feed and management practices, high production costs, and the lack of adequate dairy infrastructure.
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