Century Pacific inks supply deals with top Russian food firms

October 15, 2019

Century Pacific Food Inc,  one of the Philippines’ largest food and beverage companies, has signed multiple deals to supply tuna, sardine, and coconut milk products to top Russian firms.

Under separate memoranda of understanding, Century Pacific agreed to supply tuna and sardine products to Magnit Food Retail Chain, Dalimo and LLC Dalpromryba. It will also supply coconut milk products to Panasia Impex Co. Ltd. 

These were among the business deals worth $12.57 million that were signed during President Rodrigo Duterte’s five-day official visit to Russia early this month. 

“Russia is an attractive market for us because of its large, increasingly affluent, and highly educated population,” said CNPF’s Chief Operating Officer Gregory Banzon.

The deals follow accreditation of CNPF’s various manufacturing plants, allowing the Company to meet and service various requirements of established food brands and retailers in Russia.

Banzon added, “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.”

Cabinet Secretary Karlo Nograles, who was part of the Philippine delegation to Russia, said the agreements between Century Pacific and the Russians were proof of the government’s efforts to deliver on its commitment to the country’s tuna producers to find new markets abroad.

“The trip of the President was very productive, and these agreements were one of many that will benefit Philippine business interests, especially those that are based in Mindanao,” said the Palace official and former congressman from Davao.

Nograles said the agreement boosts the tuna industry as Mindanao produces 90 percent of the country's requirements.

'' This is an industry that creates jobs and annual direct revenues of $400 million. In General Santos City alone, the industry employs 25,000 workers,” said Nograles.

The Philippines is the top tuna-exporter to Spain, Germany and Britain. The country exports 171,452 metric tons of tuna worth $492 million to these three markets alone each year. DMS