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An Investment Appraisal and Project Study of the Vegetable Farm Lot Project of Agriwealth and DOLE Philippines
Abstract:
In 2000, the Department of Agriculture initiated the CALABA (Cavite-Laguna- Batangas) Development Program for Vegetables and Ornamental Plants. This project aimed to (1) increase vegetable and cutflower production in the CALABA areas through agricultural modernization, (2) meet the demand of Metro Manila buyers, and (3) strengthen private sector capability to cope with intensifying global competition.
DOLE, which has a 12,000-hectare pineapple plantation and cannery in Polomolok, South Cotabato in Southern Philippines, would like to be more involved in vegetable production for export. DOLE has initiated vegetable growing pilot test projects (Romaine lettuce, snow peas, raddichio, okra, baby vegetables) in Bukidnon and General Santos.
After reviewing the CALABA Development Program, DOLE believed that greenhouse production of vegetables was the most appropriate method to meet the stringent requirement (both in quality and consistency of supply) of the large fast food companies such as Jollibee, McDonald’s and Wendy’s. Moreover, DOLE said that an ideal site for this vegetable production would be a fairly elevated area.
Agriwealth Resources Corporation had identified a 150-hectare area in Nasugbu, Batangas which it would like to develop into an agri-processing zone. It would like to avail of the various incentives under the Agricultural Competitiveness Enhancement Fund (ACEF) of the Department of Agriculture.
The Nasugbu Integrated Agro-industrial-Tourism Estate (NIATE) is a project designed to convert 150 hectares of idle land in Nasugbu, Batangas into a master planned agro-industrial-tourism estate. The development plan will be implemented in two phases. Initially, Phase 1 involves the creation of the Facilities Zone (20 hectares) that will support the agricultural areas of the remaining 130 hectares in Phase 2.
The NIATE is envisioned to be a showcase of modern crop production techniques. Utilizing the expertise of DOLE in modern greenhouse production, this project will initiate the mastering of tropical greenhouse technology in the production of high value vegetables. The project will also allocate expansion areas identified for integrated farming.