The local cold chain storage industry is seen growing by as much as 10 percent this year, according to the Cold Chain Association of the Philippines (CCAP).
Anthony Dizon, CCAP president, said in a briefing the growth equal maybe 50,000 pallet positions or 50,000 metric tons (MT) of additional capacity, driven by the economic recovery, population growth and the continued expansion of e-commerce platforms.
At present, the cold storage capacity of the Philippines is rated at 600,000 MT broken down into 400,000 MT for meat, poultry and dairy, 100,000 MT for onions and another 100,000 MT for other food items that include bananas and fish.
The association chief said last year’s growth similarly averaged 10 percent, equivalent to 50,000 MT as well.
Dizon noted the industry started growing in 2015.
He said even at the height of the pandemic, the industry still posted growth and had been consistent in posting up to 10 percent annual expansion.
Earlier, Dizon said the Philippines badly needs at least P6 billion to build facilities for onions to help bridge the 100,000 MT cold storage shortage of the commodity.
Dizon said such shortage may be undertaken by a collaboration between concerned government agencies, government financial institutions and private sector stakeholders who can operate such facilities efficiently.
