AGRI Developments and Bayawan City, Philippines announce Collaboration Agreement for Agricultural Development

MANILA, Philippines, March 11, 2020 /PRNewswire/ -- AGRI Developments Mgt. Corp. ("AGRI Developments") and the City of Bayawan in Negros Oriental, Philippines, have signed a collaboration agreement aimed at developing the city's agricultural sector in tandem with further advancement of AGRI Developments' mango development project.     

The collaboration agreement with the government was required to pass approval of the City Council prior to signing and enactment by the Mayor. The agreement represents a key milestone for AGRI Developments and the city, leveraging on AGRI Developments' valuable experience in the agricultural industry, particularly its scientific crop yield and management innovations. Working alongside Bayawan City, it aims to improve its agricultural production, revenue generation and productivity. In addition, it provides support to the city's vision of becoming one of the country's leading agritourist destinations, through its planned mango development visitor center.

The partnership encompasses a wide range of shared activity whilst providing AGRI Developments with a means to reach economies of scale and enhance the scope of its mango development. The agreement allows for potential accessibility to mango production throughout the region via buy backs and crop sharing, as well as support to the entire value chain from on site management to production and export.

Both AGRI Developments and the Bayawan City share common concerns including food security and agricultural production enhancements. As such, the collaboration brings together a commitment by both partners to address these issues firstly through an investment into mango production and later on, other agricultural products.

Mr. van Egeraat, CEO, AGRI Developments MGT Corp. said, "I am pleased to finally confirm our collaboration with Bayawan City. We both have shared interests in advancing the regions agricultural sector, primarily mango production and its value chain. With this collaboration we can share resources to further our commitment towards revitalizing the mango sector of the Philippines. It also provides us with the opportunity to branch into other complementary agricultural projects alongside the city."

The Philippines is a key agricultural producer however lack of investment and the adoption of productivity improvements has led to suboptimal revenue generation. In regard to mangos specifically, mangos from the Philippines are world renown and in demand on the export market yet it has not been able to capitalize on the opportunity as of yet. Exports at the moment are severely limited with over 98% of fresh mango production domestically consumed due to inefficient supply chains and productivity. 

AGRI Developments working alongside Bayawan City intends to expand mango production through investment into advanced cultivation techniques and yield improvements. Furthermore, it intends to strengthen the value chain necessary for export in order to meet the demands of the lucrative export market.

AGRI Developments
AGRI Developments is a leading private alternative asset company specializing in the agricultural and agribusiness industry. We seek emerging opportunities globally with an objective of delivering long term value in high growth developing sectors within the industry.   As world population increases, the need for more productive and sustainable uses of land becomes more urgent.  Our mission is to build successful agricultural and agribusiness related businesses that deliver a positive impact.

For more information, please visit https://www.agridevelopments.com/

SOURCE AGRI Developments

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