BOI clears Malunggay project
The Board of Investments said it approved the application of Mausway Agribusiness Inc. as a new export producer of powdered moringa made from malunggay in pursuit of the government’s thrust to support innovative, rural and agro-industrial development.
The P36.4-million project qualifies for incentives under the Investment Priorities Plan which covers production/manufacture of non-traditional export products with an export requirement of at least 50 percent (if Filipino-owned) and at least 70 percent (if foreign-owned).
Commercial operation in the firm’s facility in Curry, Pili, Camarines Sur started in April 2017 with 56 personnel in its initial year. The firm, which has a registered annual production capacity of 49,500 kilos, expects its personnel to expand to 98 workers by the fifth year of operation.
The integrated facility involves the planting of Moringa oleifera and processing it into powder form. The moringa powder will then be sold to domestic markets such as pharmaceutical companies, natural health products manufacturers, bakeries and supermarkets and exported to Japan, South Korea, the United States and Europe.
“Malunggay and its related products have great potential to be in demand locally and abroad considering it has attracted the attention of doctors and scientists around the globe due to its high nutritional traits. It is also one of the driving forces in the growing herbal market,” Trade Undersecretary and BoI Managing Head Ceferino Rodolfo said.