MANILA, Philippines — Po family-led Century Pacific Food Inc. (CNPF) has signed separate deals with four top Russian firms to supply tuna, sardine, and coconut milk products.
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 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,” CNPF’s chief operating officer Gregory Banzon said in a disclosure to the Philippine Stock Exchange on Tuesday.
Russia has the sixth-largest economy in the world and a population of 146 million people.
The multiple 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.
“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,” Banzon said. /muf