Malunggay project gets BOI nod
The Board of Investments (BOI) already gave the green light for the registration of Mauswag Agribusiness Inc. as a new export producer of Powdered Moringa, commonly known as Malunggay.
The P36.4-million project qualifies for incentives under the government’s Investment Priorities Plan (IPP), which covers production and 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).
According to BOI, the approval was given in pursuit of the government’s thrust to support innovative, rural and agro-industrial development.
Commercial operation in the firm’s facility in Pili, Camarines Sur have already 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 power form.
The Moringa powder will then be sold to domestic markets such as pharmaceutical companies, natural health products manufacturers, bakeries, and supermarkets as well as to be exported to countries such as Japan, South Korea, 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.