Connect with us

Hi, what are you looking for?

Economy

AgriNurture, PITC team up to import raw inputs for rice-corn production

LISTED agricultural firm AgriNurture, Inc. has partnered with the Philippine International Trading Corp. (PITC) on the importation of raw materials for the production of Bigas-Mais (BigMa) or rice-corn blend.

In a disclosure to the stock exchange on Thursday, the company said it signed a memorandum of agreement with PITC in preparation for the local production of the BigMa brand.

“The company is set to locally produce with its corn contract growers and include in its product portfolio the BigMa brand,” the disclosure said.

AgriNurture said the BigMa blend is a staple food alternative for Filipino consumers that is a low glycemic and dietary fiber rich.

It said that with its production of BigMa, its carbon footprint will be reduced, while also providing more livelihood to local farmers as the source of mais.

“The BigMa production will help the country achieve food-staple sufficiency faster, while providing a healthier and affordable option to the public,” the disclosure said.

The partnership came after the company ended the third quarter with an attributable net income of P37.52 million, 45% higher than the P25.88 million it had in the similar quarter last year. It also recorded a higher attributable net income for the first nine months of the year at P355.21 million, against P58.16 million in the same period a year ago.

On Thursday, shares of AgriNurture in the stock exchange rose 2.81% or 23 centavos to close at P8.41 per piece. — Revin Mikhael D. Ochave

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

A cabinet split is hampering the government’s efforts to deal with the nationwide shortage of lorry drivers that threatens fuel supplies at some petrol...

Investing

Pubgoers are flocking back to their locals, according to figures that drew a cautious toast from the industry but also prompted warnings of fresh...

Investing

Ministers are backing a multibillion-pound plan to build another large-scale nuclear power plant in Britain to ease pressure on electricity supplies as the country...

Economy

The Philippines’ balance of payment position (BoP) hit $1.044 billion in August, the highest in four months, due to increased special drawing rights (SDR)...

Economy

Consumers were less pessimistic in the third quarter as more jobs opened up, but business sentiment turned sour amid a fresh surge in coronavirus...

Economy

The Philippine central bank fully awarded the short-term securities it sold at an auction on Friday, even as rates rose on growing inflation fears....

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!