China’s Whahaha takes serious look at RP mango, ethanol

Whahaha Group Co. Ltd., the leading drink maker in China, is interested in partnering with Philippine companies to produce mango juice and ethanol. Mariz Agbon, president of the Department of Agriculture’s investment arm, the Philippine Agribusiness Development and Commercial Corp.

(PADCC), told reporters that Whahaha was interested in buying mango puree from AgriNurture Inc. (ANI), the first agribusiness company to be listed on the Philippine Stock Exchange.

ANI president and CEO Antonio Tiu told the Inquirer in a phone interview, “Mango drinks are already available in China but if Whahaha launches a mango drink then, being the market leader, it would create a fad and a new demand for mango.”

Tiu said that Whahaha could use up all of ANI’s output for mango puree, which is 20 metric tons a day. Besides mango-based drinks, Whahaha also intends to venture into bioethanol production. Agbon said the Chinese company was interested in opening a sugarcane-fed bioethanol plant in Misamis Occidental.

The Philippines would like to see a 30-million-liters-a-year plant put up. A facility of this size needs an average investment of about P4 billion, Agbon said, quoting industry standards. To follow up on Whahaha’s prospective mango and biofuels investment, Agbon said PADCC will join a proposed trade and investment mission to China in the first week of April.

The target is for the concerned companies to sign agreements with Whahaha. “Once the agreements are signed, the projects would build momentum since Whahaha has the relevant technologies already,” Agbon said. The follow-up mission is set to take place in Hangzhou, where Whahaha is based.

Source : business.inquirer