MANILA, Philippines, Jan. 13, 2022 /PRNewswire/ — AGRI Developments today announced it has entered the global pork protein market with its latest venture in the Philippines. The venture, in partnership with one of the country’s leading emerging pig farm operators, addresses the pork crisis that is ravaging across the Philippines due to African Swine Fever (ASF). AGRI Developments will be expanding the operators existing production capacity immediately in response to the pork supply crisis across the country. The already operational farm based in Luzon is a specialty breeder, that breeds and sells premium pure line pig varieties to other farms, pork producers and distributors.
"Our expansion into pork makes sense at a time like this. African Swine Fever has devastated the Philippines and has highlighted the importance of food security and sustainable means of production," stated Mr. van Egeraat, CEO of AGRI Developments. He added that "Strict biosecurity measures are in place on the farm for safety and it specializes on breeding genetically pure premium pork varieties ensuring high quality lean pork." He stressed that pork production is extremely underdeveloped in the Philippines and the crisis has indicated drastic change is needed.
The Philippines has been one of the most drastically impacted countries in the world due to ASF, with 40% of its total pig population dying since 2019. The crisis has been devastating resulting in production levels dropping to levels last seen 20 years ago. Supply shortages have resulted in domestic pork prices spiralling upwards and has impacted the daily life of all Filipinos. The Philippines is one of the largest consumers of pork in the world, and accounts for 60% of all domestic meat consumption.
AGRI Developments added that the situation in the Philippines has been further devastated due to its lack of agricultural import safety controls. It is one of the world’s only countries of its size lacking such controls, which ensures agricultural imports are legal and safe.
While other countries have been able to replenish pork supply through imports the Philippines has been unable to do so as it is incapable of testing to see if ASF is present in imports. The government in response has begun work on the construction of its first Agricultural Commodity Examination Area (ACEA), however it will take years to build.
Although ASF does not spread to humans it is fully lethal in pigs and easily transmitted through water and feed. Since no ASF vaccine exists, the only way to prevent transmission once a case is detected is mass slaughter.
The existing ASF outbreak was first detected in China in late 2018 and has been one of the most devastating in human history. The Asian Development Bank estimates that ASF cost the industry as much $130 USD billion last year alone. Unlike China who has recovered from the outbreak rapidly, limited financial resources and imports restrictions hinder the ability of the Philippines to quickly recover.
AGRI Developments is a leading private alternative asset company specializing in the agricultural industry. We seek emerging investment opportunities globally with an objective of delivering long term value in high growth developing sectors within the industry. As world population increases, the need for more investment, productive and sustainable uses of land become more urgent. Our mission is to build successful agricultural related businesses that deliver a positive impact.
By 2050 Earth will need to produce 70% more food to feed an additional 2.5 billion people, whilst arable land decreases. AGRI Developments in support of the world’s needs always aims to do more with less. By creating more value with less risk, by producing more crops from less land and generating more business with less of an ecological footprint.
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SOURCE AGRI Developments