Food Terminal Inc.

Food Terminal Incorporated (FTI)[2] is a Filipino government owned and controlled corporation, headquartered at West Bicutan, Taguig City, Metro Manila, Republic of the Philippines; focused on food processing and distribution. It also runs a 120 hectares (297 acres) industrial estate that leases lots for small and medium-sized enterprises that runs business on agricultural development, electronic raw materials, and other business endeavours,[2][5] of which 76 hectares (188 acres) were sold to Ayala Land, Inc. (ALI) and is now known as Arca South.[6]

Food Terminal Incorporated (FTI)
FormerlyGreater Manila Terminal Food Market (GMTFM)[1][2]
TypeGovernment owned and controlled corporation (from 1980)[1]
IndustryIndustrial and agricultural enterprises
Founded30 April 1968 (1968-04-30) (as Greater Manila Terminal Food Market)[1][2]
27 March 1974 (1974-03-27) (as Food Terminal Incorporated)[1][2]
FounderPresident of the Philippines[2]
HeadquartersWest Bicutan, Taguig City, Metro Manila, Philippines
Area served
Metro Manila,[3]
Nationwide (planned)
Key people
Ariel P. Buenaventura (CEO)
Revenue
  • PHP276 million (2018)
  • PHP259 million (2017)
[4]
OwnerNational Food Authority (Philippines)
WebsiteFTI.gov.ph

The FTI is a major subsidiary agency of the National Food Authority (NFA).[1][7]

History

It was a priority project of then Philippine President Ferdinand Marcos to revolutionise the agricultural sector of the country, and establish a food consolidation centre.[8] By the power a Presidential decree issued in January 1967 (1967-01), it took about more than a year to establish what was called the Greater Manila Terminal Food Market (GMTFM) on 30 April 1968 (1968-04-30).[1] However, the estate was renamed to Food Terminal Incorporated (FTI) on 27 March 1974 (1974-03-27).[1]

The company’s major activities include warehousing, food processing, research and quality control, marketing services, and trading.

In April 1979, the Human Settlements Development Corporation took over the ownership and management of the company.[1] FTI became a major subsidiary agency of the National Food Authority (NFA).[1]

Decline

On 1989, food trading and food processing operations, including live animal slaughtering, were suspended.[1] Cold storage services were also suspended in 2004 due to technical problems and viability concerns.[1]

There have been several attempts over multiple Philippines presidential administrations to sell off part of the property, including a public auction in 2009, but they all failed.[5] In November 2012, the Philippine government announced the sale of the 74 hectares (183 acres) of the 120 hectares (297 acres) property to Ayala Land, Inc. (ALI) for 24.3 billion Philippine pesos.[5][6] Ayala plans to turn the property into a mixed-use development, now known as Arca South.[6][9][10] Proceeds from the sale are pledged to the programmes of the Department of Agriculture and the Department of Agrarian Reform. The remaining 46 hectares (114 acres) remains in FTI.[6][10]

Revival

FTI will be revived by the Department of Agriculture (DA), with its reopening in Taguig.[4][8][9] FTI still has a 36 hectares (89 acres) area available, with 11 hectares (27 acres) occupied by informal settlers.[8][9] The new FTI will feature food processing and cold storage facilities for produce to be sold to various consumer and vendor associations.

According to Agriculture Secretary Emmanuel Piñol, FTI will own logistics equipment to transfer goods from regional food terminals to markets, with a total of six food terminals to be built during President Rodrigo R. Duterte's term.[4][8]

FTI aims to be the leading food processing and distribution hub in the Philippines by 2030.[4]

Current developments

Arca South
Main article: Arca South

Arca South is a mixed-use development owned by Ayala Land, Inc. located at East Service Road, South Luzon Expressway, Taguig. Out of the 120 hectares (297 acres) in FTI, Arca South occupies a 74 hectares (183 acres) property.

FTI Special Economic Zone

The FTI Special Economic Zone is a special economic zone located in Taguig. It houses industrial and retail enterprises as well as government offices such as:

FTI Corporate Center

The new FTI Corporate Center will house government offices. It will also be a commercial and office property for lease.[4]

Regional Food Terminals (RFT)

Six regional food terminals will be established. These terminals are to be constructed in Luzon, Visayas, Mindanao, and Metro Manila.[4][8]

References
  1. "Food Terminal Incorporated (FTI) - the history - a look at the past & a glimpse of the future". FTI.gov.ph. Food Terminal Incorporated (FTI). Retrieved 25 November 2020.
  2. "Food Terminal Incorporated (FTI) - corporate history". www.FTI.gov.ph. Food Terminal Incorporated (FTI). Archived from the original on 17 January 2007. Retrieved 13 November 2012.
  3. "Food Terminal Incorporated (FTI)". www.FTI.gov.ph. Food Terminal Incorporated (FTI). Archived from the original on 24 September 2015.
  4. Christine Cudis (30 April 2019). "FTI gets new lease of life; bares 5-year roadmap". PTVNews.ph. People's Television Network, Inc. (PTNI). Philippine News Agency. Retrieved 25 November 2020.
  5. "Privatization Mgmt Office moves Food Terminal Inc. bidding to Aug. 14". www.GMAnetwork.com. GMA News. 2 August 2012. Archived from the original on 19 December 2013. Retrieved 25 November 2020.
  6. Burgonio, TJ (13 November 2012). "Ayala buys FTI for P24.3B". Business.Inquirer.net. Philippine Daily Inquirer. Archived from the original on 15 November 2012. Retrieved 25 November 2020.
  7. "Food Terminal Incorporated (FTI) - company profile". www.FTI.gov.ph. Food Terminal Incorporated (FTI). Archived from the original on 7 September 2011. Retrieved 13 November 2012.
  8. Reicelene Joy N. Ignacio (9 January 2019). "Food Terminal to be revived in Taguig, other sites". www.BWorldOnline.com. BusinessWorld. Retrieved 25 November 2020.
  9. Madelaine B.Miraflor (17 January 2019). "DA eyes food terminal at remaining FTI lot". Business.MB.com.ph. Manila Bulletin. Archived from the original on 28 May 2019. Retrieved 25 November 2020.
  10. "ALI Food Terminal Inc (FTI) now Arca South". AyalaLandRealEstate.com. Ayala Land, Inc. Archived from the original on 8 April 2014. Retrieved 5 May 2013.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.