MANILA – Bounty Agro Ventures, Inc expects to grow annual revenues to a record P12 billion this year, as the poultry industry recovers from the bird flu scare, its president said Monday.
The three brands under its rotisserie chicken business, led by Chooks to Go, is expected to drive growth, contributing up to 70 percent to the company’s earnings, Ronald Mascarinas said.
“All the way to December, we should be okay. By the, volume will be up to normal, prices will be higher than normal that will cover for whatever losses,” Mascarinas said in an exclusive interview with ANC’s The Boss.
The government detected bird flu in Pampanga and Nueva Ecija in August and declared the outbreak over the following month.
Mascarinas said tight supply, as chicken growers were forced to cull their fowl, helped drive prices higher.
Chicken currently costs P95 per kilo out of the farms, from P85 before the outbreak. By December, dressed chicken prices will be around P140 to P150 per kilo, from P130 during the same period in 2016, he said.
Mascarinas said he expected sales to increase, with the peso’s fall to 11-year lows to the dollar.
“The main market, the big part of our population is dependent on overseas remittances so they have more pesos for their dollar,” he said.
The company is studying the Malaysian market as it prepares to expand its Southeast Asian footprint to Indonesia, he said.
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