A 550-hectare banana plantation, run by Delinanas Development Corp., a subsidiary of Del Monte Fresh Produce Philippines, in Maguindanao is projected to harvest more than two million boxes of Cavendish bananas annually, or over $7 million worth based on export price, starting next year.
Jun M. Macalawan, a member of the Autonomous Region in Muslim Mindanao (ARMM) Regional Board of Investment, said Delinanas poured in P569 million to develop the banana plantation, beginning last year. The plantation is projected to employ close to 1,000 local residents.
Mr. Macalawan said the plantation had its first harvest of 1,500 boxes last June, from an initial area of 150 hectares. The harvested Cavendish was exported to Japan and Korea, he said.
Mindanao, location of commercial-scale banana plantations, ships out over $700 million worth of Cavendish to Japan and other markets annually.
ARMM Governor Mujiv S. Hataman expressed hope that more multinational companies would look at the region’s investment potential. He also urged Delinanas to explore the island-provinces of Basilan, Sulu and Tawi-Tawi for banana plantations.
“We are gradually gaining back the trust of local and foreign investors, and we’re hopeful that more investments will open in ARMM,” Mr. Hataman said.
