CP to expand shrimp operations in Philippines

Charoen Pokphand Thailand will invest $40 million in the next two years to expand its shrimp operations in the Philippines.

The Thai conglomerate, will expand its existing shrimp operation in Cebu will build feed propduction, shrimp hatcheries and grow-out farms in Isabela and Batangas in central Visayas, according to  Agriculture Secretary Arthur C. Yap.

"Their market is domestic and they are also looking at the Chinese market." Marriz B. Agbon, president of the Philippine Agricultural Development and Commercial Corporation told Business World Online, a Manila-based media outlet.