By Christine Cudis/Philippine News Agency
MANILA — What was supposed to be a government agency counting the days before its closure was renewed of its corporate life for another 50 years.
Created on May 1968, the Food Terminal Inc. was tasked to uplift the agricultural economy of the country.
Now under the Duterte Administration and through the National Economic and Development Authority’s (NEDA) Ambisyon 2040, it has unveiled to the public a new thrust: becoming a strategic partner of the business sector by providing essential infrastructure.
It also bared a new five-year roadmap that envisions to becoming the leading food processing and distribution hub in strategic locations nationwide.
For 2019 to 2023, the FTI mission shall be focused on providing accessible and modern facilities for agricultural producers to link with consumer and promote price stability.
By the year 2023, the FTI is seen to be the leading food processing and distribution hub in strategic locations nationwide.
This five-year vision will be centered on the completion and operation of post-harvest and cold storage facilities at strategic areas all over the archipelago.
From 2019 to 2023, major projects and/or programs that are expected to be delivered are the following:
(1) The construction of various cold storage facilities or regional food terminals at strategic locations in the Philippines. These facilities are initially proposed in the following areas: Metro Manila, Luzon, Visayas, and Mindanao;
(2) The installation/ operation of refrigerated vans in the FTI Special Economic Zone;
(3) Review and strengthening of the organization to ensure that it will be capable to sustain the future expanded operations;
(4) Rendering relevant aspects of FTI operations ISO compliant;
(5) Construction of the new FTI Corporate Center which will house a one-stop shop of government offices. This shall be a commercial and office property for lease;
(6) Continued quality service to its existing and future tenant locators; and
(7) Continued support to the government’s “Build, Build, Build” Program with the granting of Right of Way for the Skyway Project in Taguig.
These are, of course, only a few of the major deliverables of the company.
“Sustaining financial viability will continue to be a major concern,” FTI President Ariel Buenaventura said in a recent interview.
FTI’s financial performance as of December 2018 accounted to PHP276 million unaudited revenue which is 7 percent higher compared with CY 2018 target of PHP259 million. It is, however, 87 percent lower than CY 2017’s.
Now under the Department of Agriculture, FTI still has a 25-hectare area in Taguig to be used as the site of the new food terminal and another 11 hectares occupied by informal settlers.
Earlier, Agriculture Secretary Emmanuel “Manny” Piñol said the new FTI, once completed, will have receiving and processing facilities for farm and fisheries produce to be sold to consumers and vendors associations in Metro Manila.
“Using modern communication technology, the new FTI will give out daily advisories on the buying prices of products such as chicken and hogs. It will be equipped with processing and cold storage facilities,” Piñol said.
He added that the FTI will also have logistics equipment to transport the goods from the regional food terminals to the markets.
A total of six food terminals will be constructed nationwide during the term of President Rodrigo R. Duterte, Piñol said, quoting the statement of FTI chairman Raymundo B. Ferrer.
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