Two Mindanao-based export companies, including a company affiliated with the Del Monte Group, have permanently folded pushed by the impact of the pandemic on their operations.
A recent consultation of the Philippine Export Confederation Inc. (Philexport) Region 10 bared the closure of South Bukidnon Fresh Trading Inc. and Valencia Rubbertex Inc. displacing about 400 workers.
South Bukidnon, located in Manolo Fortich, exports fresh pineapple to the Middle East with total value of about P60 million per year. It has about 204 employees.
The company is owned by the Del Monte Group which incorporated it in 2014 for the growing, packing and sale and export of fresh pineapples
Malaybalay-based Valencia Rubbertex produces rubber boots and working shoes for export to Southeast Asia and has an annual export sales of $2 million. It has 192 employees.
Philexport said both big and small exporters are still hard hit by the impact of the new coronavirus disease 2019 as local production and foreign trade partnerships still have uncertainties.
With limited or no raw materials, exporters were forced to cut off their supply to fruit traders, Philexport said. – Irma Isip
