CANNER Century Pacific Food Inc. on Tuesday said it has signed multiple deals to supply tuna, sardine, and coconut milk products to top Russian firms.
Under separate agreements, Century Pacific will supply tuna and sardine products to Magnit Food Retail Chain, Dalimo and LLC Dalpromryba. It will also supply coconut milk products to Panasia Impex Co. Ltd.
These were among the business deals worth $12.57 million that were signed during President Duterte’s five-day official visit to Russia early this month.
“Russia is an attractive market for us because of its large, increasingly affluent, and highly educated population,” the company’s Chief Operating Officer Gregory Banzon said.
Russia has the sixth-largest economy in the world and a population of 146 million people. The multiple deals follow accreditation of Century Pacific’s various manufacturing plants, allowing the company to meet and service various requirements of established food brands and retailers in Russia.
“The supply agreements will help us build a global consumer base for our flagship brand Century Tuna, which is already gaining traction abroad, and grow as well our emerging coconut milk business,” Banzon said.
The Philippines is already the top tuna exporter to Spain, Germany and Britain. The country exports 171,452 metric tons of tuna worth $492 million to these three markets alone each year.
Century Pacific is one of the country’s largest exporters of tuna and coconut products to the world. It also maintains market leadership in the domestic canned tuna market and is investing in an emerging local coconut business.