Argentina’s Farmesa to set up plant in PHL

AN Argentinian food processing company is planning to establish a seaweeds processing plant in the Philippines, according to the Department of Trade and Industry (DTI).

In a statement, the DTI said Trade Secretary Ramon M. Lopez recently met with Farmesa International Group head Agustin Perez to discuss how the company can expand its sourcing of local seaweeds. The meeting took place on the sidelines of the 11^th Ministerial Conference of the World Trade Organization in Buenos Aires.

Mr. Lopez in a message to reporters said Farmesa’s investment in the seaweeds processing plant would be worth around P300 million.

“The availability of raw materials plus the strategic location of the country factored highly in the country’s evaluation,” Mr. Lopez said.

“They currently had to source seaweeds from several Asian countries and bring it to Argentina for processing. Now they can focus their sourcing in the Philippines and do the processing right in the country,” he added.

Farmesa is an Argentinian company that develops and manufactures ingredients and specialties for the food industry. Its products, such as emulsifiers, antioxidants, textured soy protein, are mostly derived from soya, carrageenan and other natural sources.

The DTI quoted Farmesa’s Mr. Perez as saying the Philippines would be its first manufacturing operations outside of Argentina.

“Aside from the big potential of sourcing seaweeds, (Mr. Perez) finds the Philippines business environment stable and the economy very dynamic,” the DTI said.

Farmesa is already registered under the Philippines Economic Zone Authority (PEZA) last August 2016, for processing seaweeds into alkaline-treated chips or semi-refined carrageenan for export purposes at the Light Industry & Science Park IV in Malvar, Batangas.

PEZA Director General Charito B. Plaza told BusinessWorld in a text message said there are many areas in Visayas and Mindanao where Farmesa can establish a seaweeds processing plant.

PEZA is planning to fully utilize aquamarine economic zones in the two regions. — Anna Gabriela A. Mogato