MANILA, Philippines – One of the Philippines' largest food and beverage companies will be exporting Philippine tuna, sardines, and coconut milk products to top Russian firms soon.
In a disclosure to the Philippine Stock Exchange on Tuesday, October 15, Century Pacific Food Incorporated said it agreed to supply tuna and sardine products to Russian companies Magnit Food Retail Chain, Dalimo, and LCC Dalpromryba. It will also supply coconut milk products to Panasia Impex.
These were among the business deals worth $12.6 million that were signed during President Rodrigo Duterte's 5-day official visit to Russia earlier in October.
"Russia is an attractive market for us because of its large, increasingly affluent, and highly educated population," said Century Pacific's chief operating officer Gregory Banzon. (READ: Century Tuna maker eyes offering more products)
"The supply agreements will help us build a global consumer base for our flagship brand Century Tuna, which is already gaining traction abroad, and grow as well our emerging coconut milk business," he added.
The Philippines is currently the top tuna exporter to Spain, Germany, and Britain. The country exports over 171,000 metric tons of tuna worth around $500 million to these markets alone yearly.
Century Pacific, which has a trading symbol of CNPF, boasts brands like Century Tuna, Argentina, 555, Angel, and Birch Tree. It is one of the Philippines' largest exporters of tuna and coconut products. – Rappler.com