Century Pacific Food Inc. is confident of a continued pickup in the consumption segment of the economy as the vaccination against the coronavirus gets underway.
Greg Banzon, Century Pacific chief operating officer, said on a year-to-date basis, the company continues to post “double digit growth.”
“There’s a lot of pent up demand. (Consumers) are waiting to be able to go out and live their lives in a normal manner as possible,” Banzon said during the Security Bank economic forum Thursday.
Banzon said as people cope to find ways to continue to be productive, there are a “lot of bright spots” in the economy particularly for people who are going into the retail business either by offline businesses or online ventures.
“We continue to be very bullish. Food is a very basic requirement for all households and internationally, we have been growing our international network. We are now present in 80 countries and continue to see a growth of 20 percent or more year-on-year. And then here domestically, despite the surge from last year, our year-to-date growth continues to be at double digit levels,” he said.
“Whatever economic situation consumers will go through as evidenced by last year, they continue to consume. That’s why we’re very optimistic …at least for the food sector,” he added.
Banzon noted the vaccine rollout as a key element in recovery.
