The Department of Agriculture said today that next year will be good for the local poultry industry as more than P500-million worth of investments in broilers and layers is set to come in next year.

Agriculture Undersecretary Jose Reaño said the investments will mostly come from local investors.  

He added, one of these investors is in media, one is in the feeds industry, one is an entrepreneur looking for a new business venture, and one is already in the industry but will start to venture into layers.

“The business is worth about, yung isa nasa 300 million, isa 99 million, yung isa, sa layers 179 million pero expanding to 450 million,” Reaño said.

He added, 80 percent of these investors are new players, while 20 percent are old players.

According to Reaño, there is also a foreign investor who will probably come in next year.

“Yun ang malaki, probably that would be a billion peso investment, yung isang company na  yun na papasok next year already conducted a market survey,” he added. 

Indeed, there is a lot of potential in the poultry industry and it shows the confidence in the agricultural business environment under the watch of Secretary Proceso Alcala, Reaño said.

He added, the future looks bright for the industry, even for exports and egg processing.

“We have a very vibrant poultry industry, as a matter of fact, ang daming nagbi-build ngayon ng broiler business, for meat, and layers naman for egg production and processing,” he concluded. (DA-OSEC)