-
Vitarich Corporation opened its largest warehouse in Davao City, expanding inventory capacity for Mindanao by 47%
-
With increased capacity, Vitarich can manage risks related to raw materials, said Vitarich president and CEO Rocco Sarmiento
-
As of September 30, 2022, Mindanao accounted for 40% of the company’s total revenues
-
The feeds segment grew at a compounded annual rate of 15% from 2016 to 2021
Vitarich Corporation recently opened its largest warehouse nationwide, located within the company’s feed mill complex in Panacan, Davao City.
The new facility comprises 6,000 square meters for storage and 3,000 square meters for loading, unloading, and parking, the company said in a statement. It can store approximately 6,600 metric tons of raw materials and finished goods, which expands the inventory capacity for Mindanao by 47% to 11,900 metric tons.
The warehouse is among the newest additions to the company’s growing list of facility expansions and upgrades over the past few years. Among these improvements were a modernized dressing plant and laboratory and equipment in Marilao, Bulacan; enhancements to the management systems for supply chain, inventory, and information technology; and other investments in technologies and capabilities across the company to enable end-to-end processes.
“This warehouse is a necessary investment which we believe will set us up for further growth as we strengthen our presence in Mindanao and serve the growing demand,” said Vitarich president and CEO Rocco Sarmiento. “With increased capacity, we can ship in main commodities in bulk to manage our risks related to raw materials and ensure that we continue to scale up and support food security at all times.”
As of September 30, 2022, Mindanao accounted for P3.4 billion or 40% of the company’s total revenues, rising steadily in recent years with the feeds segment growing at a compounded annual growth rate of 15% from 2016 to 2021.
In November, the company announced that it successfully renewed its ISO 22000:2018 food safety management system certification for its feed mills, including the plant in Davao City.
