METRO PACIFIC Agro Ventures, Inc. (MPAV), a subsidiary of Metro Pacific Investment Corp. (MPIC), said its dairy business is targeting to produce 10 million liters over the next two years.
Milk production of Metro Pacific Dairy Farms breached 1 million liters last year, MPAV President and CEO Jovy I. Hernandez told reporters.
The dairy business is expected to produce about two million liters of raw fresh milk this year, he noted.
“By 2027, we should be delivering 10 million liters,” he said.
Mr. Hernandez said Metro Pacific Dairy Farms, which has partnered with Israel’s LR Group on a P2-billion integrated dairy facility, is on track to be fully operational this year.
Currently, the dairy business has a herd of about 1,000 cows.
The dairy unit was producing 500,000 liters of raw fresh milk when it started.
Mr. Hernandez said the dairy business is awaiting the arrival of 220 dairy cattle from Australia by May.
“We’re now moving some of the non-milking herd to become milking.”
In 2022, MPIC bought a controlling stake in The Laguna Creamery, Inc., which sells products under the brand name Carmen’s Best, for about P200 million.
The Philippines currently imports about 99% of its dairy requirements.
The government aims to boost local production to 80 million liters per year by 2028, to increase the share of domestic product to about 5% of demand. — Kyle Aristophere T. Atienza