Metro Pacific Investments Corporation, through Metro Pacific Agro Ventures Inc. (MPAV), is seeking to at least double its dairy and greenhouse operations while looking to acquire another coconut-based business and large tracts of agricultural land in Mindoro.

In an interview, MPIC Chairman, President and CEO Manuel V. Pangilinan said, “we’re running out of milk for Carmen’s Best (ice cream and dairy products) so we’re looking at investing in other dairy farms.”

MPAV is looking at two or more more dairy farms in the country that it can acquire or invest in, he said noting that “this is a good sign” for the growth of the business.

Meanwhile, Pangilinan said, “our greenhouse should be operational by the fourth quarter this year. The first phase is 7 hectares, so we’ll proceed to double this in 2025. That’s in San Rafael, Bulacan.” 

The company is also looking at 3,000 hectares in Mindoro for corn for the cows and several others.

He also disclosed that MPAV is looking at several other acquisitions, including a significant stake in another company with business related to coconuts because “it’s a primary agri product in the country and a great deal of its byproducts are exportable including those with cosmetics and pharmaceutical implications.”

Pangilinan said they are also optimistic about the prospects of Axelum Resources Corporation despite the downturn in its performance last year and noted that “if they need more funding for expansion, we’re prepared to do that to help out.” 

He said Axelum is in a key industry for the country and it has “a good management, they’re very hands-on and it’s one of the best business models because dollar revenues and peso expenses. Foreign currency earnings for the country.”

Axelum is expected to make a strong recovery this year, said Pangilinan, adding that “we usually recover from a mistake. It’s remediable. We are targeting the highest ever growth this year, double-digit, possibly even triple digit.”

Axelum has just signed a new 10 to 15-year supply contract with The Vita Coco Company for coconut water and has recently beefed up its production capacity to meet growing demand.