ITOCHU Eyes Pineapple Expansion

From: ANC News

On June 6, Philippines’ Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with executives of Japanese firm Itochu Corp. on the sidelines of the ASEAN-Japan Business Week 2023 in Tokyo, Japan. According to the Secretary, Itochu Corp., through its subsidiary Dole Philippines, aims to boost its pineapple production in the country by 2025.

“The meeting is a follow-up to the Presidential visit to Japan last February when the company entered into a letter of intent (LOI) with DTI on their plan to increase their pineapple production in the Philippines,” the DTI said.

Itochu is one of the largest Japanese trading companies involved in textile, food, energy, chemicals, among many others. Through its subsidiary, DOLE Philippines, Itochu intends to increase pineapple production volume in the country to one million metric tons by 2025, according to the DTI.

“With 30,000 workers under its employ, the Philippines will remain to be DOLE’s core production base in this whole business,” Pascual said.