Metro Pacific keen to pursue coconut deals

Manuel V. Pangilinan-led Metro Pacific Investments Corp. is looking to invest in the country’s coconut sector as it takes another crack at agriculture.

Metro Pacific director Jose Ma. Lim said the infrastructure giant was keen on diversifying its agribusiness holdings, after buying control of Carmen’s Best last June and signing a P2-billion dairy farm venture with Israel’s LR Group onThursday.

“We want to enter other areas [in agriculture] like coconuts,” Lim told the Inquirer, explaining they wanted to operate a fully integrated business so they would have better control of their supply chain.

“There is no one doing that here so we want to build that up,” he said. “It also has to make economic sense so you start with what you can then you try to complete the supply chain as much as you can.”

Lim, who retired as Metro Pacific CEO last year, said there were acquisition prospects currently being explored but he declined to disclose further details.

Last week, Metro Pacific and LR Group held a ceremonial groundbreaking for a modern dairy farm in Laguna that will produce at least six million liters of milk per year once it becomes operational by early 2026.