Filipino rice firm diversifies with banana exports
SL Agritech Corp. (SLAC), is a hybrid rice producer, which has had some previous experience with exp…SL Agritech Corp. (SLAC), is a hybrid rice producer, which has had some previous experience with exporting small volumes of bananas. But now the company is aiming higher and has entered the banana export business with a revenue target this year of P300 million.
“We’re exporting banana... around 45 containers every week. Cavendish.” president of SLAC Henry Lim Bon Liong told reporters last week on the sidelines of the Harvest Festival in Nueva Ecija.
“Bananas [from] the Philippines are well-known and sell faster,” said Mr. Lim, adding that the company exports to the Middle East, the US, and China. Production is on a contract-growing basis.
“We have already exported banana but not in big volumes,” said SLAC vice-president for exports, Cathy Galura, in a phone interview
By volume, SLAC is aiming to export 9,000 metric tons this year, said Ms. Galura.
Ms. Galura added that the company is targeting to expand its export market for bananas to Europe, as Panama disease infecting the Cavendish variety restricts output from other sources.