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To enhance shrimp farming in the Philippines, Chareon Pokphand Foods (CPF), a prominent Thai company, has partnered with the Government of Laoag Employees Development Cooperative (GLEDCO). Together, they are set to establish a state-of-the-art shrimp farm in Cataban, a coastal village in Laoag City. This project is backed by a PHP 50 million (USD 859 thousand) loan from Landbank of the Philippines (LandBank), targeting a three-hectare site.
Commitment to Food Security
Edgar Pascual, CEO of GLEDCO, emphasized the project’s alignment with national food security goals. “This marks a significant milestone in our journey towards sustainability and growth. This venture is GLEDCO’s support to the call of President Ferdinand R. Marcos Jr. for cooperatives to venture into food security program in the locality,” he stated in a recent interview.
The project is set to commence operations in three months, following the completion of phase one of construction. Once fully operational, the shrimp farm is expected to produce 100 tons of shrimp annually. This significant output aims to meet the high demand for fresh, high-quality seafood in the Ilocos Region and beyond, while also creating new livelihood opportunities for the local population.
CPF’s Expertise and Technological Input
CPF, renowned for its integrated agro-industrial and food business, brings its advanced shrimp farming technology to the venture. The company’s expertise, particularly in breeding high-quality whiteleg shrimp, will be instrumental in the farm’s operations. CPF will provide technical assistance and other crucial inputs to ensure the success of the Laoag shrimp farm.
Laoag City Mayor Michael Keon expressed strong support for the collaborative effort, highlighting its potential economic benefits. The shrimp farm is anticipated to generate employment for the locals and boost the supply of world-class shrimp to restaurants and food processing centers. This initiative not only aims to enhance local food security but also positions Laoag as a key player in the global seafood market.