The Board of Investments has approved the P1.33-billion project of Biotech Farms Inc. to expand its live hog production.
In a statement, the BOI said Biotech Farms would add 2,500 sow-level piggery farms in its swine facility in South Cotabato.
The expansion project will boost the farm’s annual swine production by 48 percent, the BOI said, adding that the current swine production capacity of the facility is at 114,400 hogs (11.44 million kg.).
Biotech Farms will have an additional capacity of 54,600 hogs (5.46 million kg.), increasing its annual production to 169,000 hogs (16.9 million kg.).
The investment promotion agency said the expansion project would also put up “state-of-the-art facilities with the latest pig production system similar to what is implemented in the United States and Australia” to ensure healthy and efficient hog production.
“Once operational, the project will help in the arrest of the continuously increasing pork importation,” the BOI said.
Since the start of the year, consumers have been facing high prices of pork meat due to the lack of local production as pigs have been affected by African swine fever.
The Department of Agriculture said the country incurred a deficit of 130,000 metric tons of pork meat last year, as demand reached 1.25 million metric tons while supply was only at 1.12 million MT.
Annual growth of local production was averaging at 2.5 percent, while pork importation grew at a faster rate of 7 percent.
Biotech Farm’s new facility will be operational by April 2022, the BOI said.*PNA