Manila, Jan. 21, 1998 - The Board of Investments has granted pioneer incentives to Cargill Inc., a major animal feeds maker which is building two swine and poultry feed plants in Bulacan and General Santos.
Cargill's two facilities will use corn harvested from Luzon and Mindanao, and will have a combined capacity of 226,000 metric tons of animal feeds per year.
About 1,400 corn farmers will benefit from contract growing arrangements that will ensure a market for all their produce. Cargill will need as must at 99,255 metric tons of corn for its production. This translates into 12,403 hectares dedicated to corn farming.
Cargill will also purchase from local suppliers thousands of tons of rice bran, copra and molasses. Only fishmeal and soybean meal will be sourced from other countries.
The BOI decided to grant Cargill a six-year income tax holiday because animal feeds production is a priority industry and is integrated with corn production, a key ingredient in animal feeds.
Reported by: Sol Jose Vanzi
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