The Consunji family's oil palm business is planning a significant expansion over the next seven years, aiming to increase its plantation area to 20,000 hectares.
The expansion will cover existing operations in Zamboanga, Negros, Agusan, and Sultan Kudarat, and will require an estimated P3.75 billion to P5.25 billion in investment.
Developing one hectare of oil palm costs between P250,000 and P350,000, and the company currently manages about 5,000 hectares with around 600,000 trees.
The expansion is driven by the country's continued dependence on imported palm oil, with large parts of Mindanao and the Visayas having favorable conditions for oil palm cultivation.
The company's oil palm operations currently employ about 1,200 workers, including harvesters, mill workers, civil works personnel, and support staff, and also works with 275 outgrowers cultivating around 2,500 hectares of oil palm.
DMCI Holdings, one of the country's largest listed conglomerates, has interests in construction, real estate, mining, power generation, water utilities, and infrastructure, and is investing in processing infrastructure to support the expansion.
The company's chairman and CEO, Isidro A. Consunji, believes that agriculture done right is one of the most meaningful investments in the country, not just economically, but in terms of real, visible impact on people's lives.
The Consunji family's agriculture business is a key focus for Isidro A. Consunji, who is stepping back from active management at DMCI and dedicating more time to the family's agricultural ventures.
With a target to reach 20,000 hectares within seven years, the expansion is expected to have a significant impact on the country's economy, creating jobs, farms, and communities, and saving foreign exchange that could have been spent on imports.
