Calata, Japan firm ink deal for test farms
MANILA, Philippines – Farm supplier Calata Corp. and Japan trading firm Marubeni Corp. have entered an agreement to establish test farms in the Philippines.
In a disclosure to the stock exchange on Monday, the publicly listed agribusiness firm Calata said the test farms will be used to test the viability of Marubeni’s agricultural chemical products in the Philippine market.
“This partnership is envisioned to draw additional business opportunities that will further increase Calata’s continuing business growth as well as its continuous drive to be the country’s leader in the agribusiness industry,” Calata said.
Marubeni, one of Japan’s largest and most diversified general trading firms, is also a strategic ally of the New Hope Group, Calata’s agribusiness partner in its growing feed brand Golden Bean.
The food segments of both Calata and Marubeni aim to link the operations of its grains, livestock feeds, livestock and agro-chemical divisions to boost business advantages.
Marubeni posted profits of 651.1 billion yen for the fiscal year ended March 31, 2014.