MANILA, Philippines – Agro chemical firm LEADS Agri Products Corp. is investing in a new warehouse worth P10 to 12 million in Davao next month.

Company vice president Fernando Malveda in a phone interview said yesterday that the new warehouse would have a floor area of 600 square meters.

Malveda said they would also have a tank with a storage capacity of 300,000 to 400,000 liters for storing banana oil that it imports from Korea the banana oil will be used in its pesticide for banana plants.

The company currently has a central warehouse in Norzagaray, Bulacan that occupies 1.4 hectares of land.

LEADS Agri supplies the pesticide needs of fruit growers such as Del Monte, Tadeco, DOLE, and Lapanday Foods Corp.

Malveda said banana production is expected to “grow steadily over the year” and is expected to increase 10 to 15 percent this year. He noted that the country is now increasing exports to Japan, Europe, and Middle East.

He also said he company would release new organic pesticide products for corn crops in June. The new pesticides are expected to raise corn yields by 15 to 25 percent.

“This is our answer to the challenge of (Agriculture) Secretray (Proceso Alcala) to come up with organic pesticides for corn plants,” he said.

The Department of Agriculture tagets to increase this year the production of yellow corn which is also used for animal feeds.

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