Processed food exporter diversifies product lines

CEBU, Philippines – Cebu-based Central Seafoods Inc., one of the largest processed food exporters in Cebu, took a huge shift towards the local market while international markets are still recuperating.

CSI president Nelson Bascones said that for the past two years, the company, which maintains around 500 workers, has been directing its focus to the vibrant local market. To date, about 60 percent to 70 percent of the company's products are disposed in the local market.

Although other product segments have started to recover in the export market, domestic consumption on the other hand is likewise showing a promising outlook.

Demand for crabmeat for instance continued to slowdown especially from the company’s key markets like the United States and Europe.

"The US specifically has discovered cheaper substitute for crabmeat. While our quality is still good, cost matters for them these days," said Bascones.

The favorable domestic market prompted the company to create a subsidiary to operate the brand solely for the Philippine market, the Food Philippines Inc.,

Simultaneously, in order to sustain its export business, the company also has expanded and diversified its product lines from the usual canned crabmeat, pasteurized canned crabmeat, frozen shrimp and scallops, the company now has widened its product line and recently introduced the frozen peeled and headless shrimp, frozen scallop meat, among others.

According to Bascones, despite the year-round weather unpredictability, and climate change, supply of wild-caught seafood is still abundant in the country.

CSI maintains 11 buying stations nationwide, these are in Palawan, Sorsogon, Surigao, Bataan, and other areas. (FREEMAN)