MANILA Listed Calata Corporation in a meeting of its management Committee on Tuesday considered the huge potential of the recently signed Memorandum of Agreement (MOA) with National Agribusiness Corporation (NABCOR) and has decided to aggressively pursue corn farming.
Calata, in a disclosure to the Philippine Stock Exchange, said that the company plans to plant corn with a total land area of up to 20,000 hectares.
The company said it is also into preliminary talks with several Argentinian companies engaged in large scale corn production and supply of high-tech mechanized corn production equipment for a possible joint venture for large scale corn production and processing in the country.
Calata said Argentina has been known to be one of the leading countries in successfully utilizing modern technology and advanced farming practices in corn production.
The planned large scale corn production is intended to complement the previously signed supply agreement with NABCOR by creating high quality and sustainable source of corn inputs.
The company said it has also been approached by several foreign governments who are interested in long term purchase contracts through the process of importing corn from the Philippines through Calata once the planned large scale corn production pushes thru.
The corn supply imported from Calata shall be intended for their domestic animal feeds industry and also for their biofuels production.
"The Company shall be disclosing all the developments as well as all agreements which shall be entered into as soon as they have been formally executed," it said.
Calata was originally incorporated as Planters Choice Agro Products, Inc. on July 23, 1999. The Securities and Exchange Commission (SEC) approved the change of its corporate name to its present one in 2010.
The company is a combined distributor of agrochemicals, feeds, fertilizers, veterinary medicines and other agricultural products coming from manufacturers or business partners such as San Miguel Corporation for B-Meg Feeds and veterinary products, Syngenta, Bayer, Jardine, Dupont, Sinochem, for agro-chemicals, East West Seeds, Monsanto, Planters Products for its agricultural seeds and Swire, Viking for fertilizers.
Calata currently distributes the following types of products: animal feeds, fertilizers, agro-chemicals, seeds and other products. (PNA)