September 21, 2021

Two top fruit companies to invest in Surigao del Sur


The local economy of Tagbina town in Surigao del Sur is expected to get a boost from investments of two foreign companies that are into banana production.

Tagbina Mayor Donnell Polizon announced this in his text message sent to PIA-Caraga this weekend.

According to Polizon, the town of Tagbina in Surigao del Sur will soon become a banana municipality as investments on a 3,000 hectares banana farm pour in.

Mayor Polizon said Dole Stanfilco is scheduled to start their land preparations this month while Sumitomo Fruits will be doing the same in two months time.

This development is expected to translate into additional jobs not only for the people of Tagbina, but also for people in the province of Surigao del Sur and the entire Caraga Region. Mayor Polizon said that this will be improve the economic condition of the region.

Dole Stanfilco produces and sources bananas and other tropical fruit. It is part of Dole Asia’s operations and is headquartered in Davao City. Stanfilco has over 11,400 hectares planted with bananas and employs approximately 22,000 people, whether directly or through third-parties.

Meanwhile, Sumitomo Fruit Corporation, which is second only to Dole Stanfilco, is a fruit and vegetable importer and distributor whose operations are based in Tokyo. Bananas from the Philippines make up the bulk of its trade.

Sumitomo Fruit Corporation’s 25 percent share of the banana market, in terms of volume of imports, makes it the second biggest player in the business. (PIA-Caraga)

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