The Board of Investments (BOI) has approved the application of Denso Philippines Corporation as new producer of high-value crops, particularly microgreens, kale, arugula, herbs, and melons.
With an estimated investment of P60 million, the firm’s SMART Agriculture Project that will operate in Ibaan, Batangas. It was approved under “Agriculture, Fishery, and Forestry” of the 2022 Strategic Investment Priority Plan (SIPP).
The company targets to supply hotels, restaurants, online market (e-commerce), culinary schools, and other food-related businesses in Central Business District areas in the Philippines.
Endorsed by the Department of Agriculture (DA), the project involves the commercial production of vegetables using hydroponic growing technology with plans to use IoT (internet of things) for nutrient dosing and monitoring through sensors. Hydroponics is a soil-less farming system that includes the process of growing plants with the use of mineral nutrient solution through an inert medium such as perlite, gravel, mineral wool, expanded clay, or coconut husk. With this process, water remains in the system and is reused, which, in turn, can decrease carbon footprint.
By 2027, the global hydroponics market is expected to reach $13.4 billion, or an annual growth rate of 19.2 percent for the 2021 –2027 period. The project is expected to help address the low local self-sufficiency of highland vegetables (22 percent) in Region IV-A where DA forecasted a supply deficit of 51,116 metric tons.
Moreover, coupled with its climate-resilient greenhouse building, the project will also employ integrated pest/disease management.
The project is aligned with the Food Security Program being pushed by the DA. It can help achieve the DA’s vision of elevating the Filipino farmers by improving the country’s agriculture industry, as it may contribute to the attainment of food security in urban areas in terms of ensuring a sufficient supply of fruits and vegetables and supporting green agriculture.
“The project of Denso Philippines Corporation is a testament to our unwavering commitment to attaining food security in our country. True enough, these high-value crops will be significant in supporting urban areas and leveling up the country’s agriculture industry. This is only the beginning of more projects that will make food security happen in the Philippines,” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.