Running over two years, the investment is designed to drive the expansion of Cargill’s animal feed and agricultural supply chain businesses, as well as help meet increased demand for chicken and pork in the Philippines.
The investment will also include further supporting farmers across the Philippines.
For the past 25 years, Cargill has worked closely with farmers to educate them on best practices for productivity and profitability. Last year, about 40,000 farmers benefited from the program, which is expected to rise to 70,000.
The company is also celebrating the first-year anniversary of C-Joy, Cargill’s joint venture with Jollibee Foods Corporation to process chicken for domestic consumption.
“Working closely with the government, our customers, partners and the community, we are helping farmers thrive and are bringing safe and nutritious food to Filipino tables,” said Cargill CEO Dave MacLennan.
“We are grateful for our partnership with the Philippines government, as they welcome investments that enable Cargill to grow alongside the Filipino people and the local economy.”
The move celebrates the firm’s 70th anniversary of operating in the Philippines after opening its first office in 1948 – also the company’s first office in the Asia-Pacific region.
Cargill employs 2,200 employees across 27 locations in the Philippines.