BANGKOK, July 1, 2019 /PRNewswire/ -- AGRI Developments is delighted to announce the creation of its mango development in Central Visayas in the Philippines. The development will focus on producing high quality mangos suitable for export via the implementation of strict post-harvest management controls, and procedures to meet necessary export SPS requirements.
The Philippines sits as a sleeping giant in terms of mango trade potential. Mangos from the Philippines are internationally renowned for their sweetness and taste, and yet account for only 4% of total global exports. Over 98% of total fresh mango production in the Philippines is catered to domestic consumption indicating a severe underdevelopment of its export industry. Exports of fresh mango have been limited due to a lack of availability of high quality mangos. Poor cultivation and post-harvest practices from chemical pesticide use to cold chain management and packaging have prevented exporters from complying with SPS standards required in key markets. The inability of the Philippines to provide sufficient export grade mangos has forced buyers in Asia to turn to Thailand and as far away as South America. Mexico, Peru, and Brazil are the worlds three largest mango exporters having taken advantage of high demand and lack of regional export supply.
AGRI Developments aims to revitalize the mango sector in the Philippines and capitalize on the existing severe export demand-supply imbalance. Its mango development is strategically located in Negros Oriental near Cebu in the province of Central Visayas. The development is to be scaled up in phases with up to 85 hectares available to the company, and will focus on producing export quality mangos. AGRI Developments will also be adding resources to ensure product quality through the implementation of post-harvest packaging and storage facilities.
About the Mango Market
Mangos are highly versatile and are eaten in raw form or processed into a variety of products including dried, purees, juices, nectars, chutneys, pickles and powders. In addition, mangos are used as flavoring in ice creams, bakery products and confectionaries. The mango market has been experiencing new record highs annually with fresh fruit global consumption reaching 45 million MT p.a. The mango market is still developing with room for significant growth as consumers in Europe and North America become more familiar with them. In addition, supply side constraints in terms of volume and export quality have limited market growth. Export supply from the Philippines as well as India who are both world renown for their mangos has been limited resulting in South American countries, who are not traditionally known for their mangos dominating exports.
About AGRI Developments
AGRI Developments is a leading private alternative asset company specializing in the agricultural and agribusiness industry. We seek emerging opportunities globally with an objective of delivering long term value in high growth developing sectors within the industry. As world population increases, the need for more productive and sustainable uses of land becomes more urgent. Our mission is to build successful agricultural and agribusiness related businesses that deliver a positive impact.
SOURCE AGRI Developments