AgriNurture, partner to plant fruits, grain in Mindanao

Fruit exporter AgriNurture Inc. (ANI) and its two partners will plant bananas, pineapples, rice, and/or corn on 20,000 hectares of land in Mindanao. Harvests from the project will be sold for export, “with priority given to countries in the Middle East region," ANI said in a disclosure to the Philippine Stock Exchange (PSE). A memorandum of understanding (MOU) between ANI and privately-led Far East Agricultural Holding Corp. said that the venture will also build processing facilities in the area. State-led Philippine Agricultural Development and Commercial Corp. (PADCC), the third signatory to the agreement, will facilitate the investments in farmlands and idle lands. PADCC is subsumed under the Department of Agriculture (DA). Shares of ANI fell to P22.75 apiece during Thursday’s trading at the PSE. - GMANews.TV