ISABELA, PHILIPPINES — Charoen Pokphand Foods Philippines (CPF Philippines) will lease a new feed mill being constructed in Isabela province.
CPF Philippines is one of the country’s leading agro-industrial companies with feed, food and farm operations.
The Isabela Feed Mill Complex is being built by Sagittarian Agricultural Philippines, Inc. (SAPI), with financing support from the Land Bank of the Philippines (Landbank). Under the agreement, Landbank will provide SAPI with a PHP 1.2 billion loan ($21.3 million) to construct the 15-hectare feed mill and a $1.77 million credit line for working capital.
The facility will help CPF Philippines supply feed ingredients for its growing poultry and livestock operations across Luzon. The company has integrated poultry operations in the Philippines that include the entire supply chain from animal feed production to food processing and distribution.
The feed mill is expected to boost local corn demand and benefit smallholder farmers in Isabela and nearby provinces. Isabela province is the top corn producing province in the country, producing 20% of the nation’s total.
“With this investment, Landbank reaffirms its commitment to modernizing the agricultural sector, empowering local farmers, and strengthening the country’s food security and support the agriculture value chain,” said Lynette V. Ortiz, president and chief executive officer of Landbank.
The loan and credit line signing ceremony on April 23 was led by Eduardo N. Reyes Jr., first vice president of Landbank Northern Luzon Lending Group and Myra Myrtha M. Padolina, head of Northern Isabela Lending Center, alongside Jose Avelino C. Diaz, president and CEO of SAPI, and Danver Albert R. Arzaga, corporate secretary attorney. Also present as witnesses were City of Ilagan Mayor Josemarie L. Diaz, Vice Mayor Kyrill S. Bello, CPFPC Vice President Suchart Panparn, Assistant Vice President Darwin Lictawa, and Landbank Account Officer Honeylee B. Gomez.
