Food Terminal Inc.

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Food Terminal Incorporated (FTI)
FormerlyGreater Manila Terminal Food Market (GMTFM)[1][2]
Company typeGovernment-owned and controlled corporation (from 1980)[1]
IndustryIndustrial and agricultural enterprises
FoundedApril 30, 1968; 58 years ago (1968-04-30) (as Greater Manila Terminal Food Market)[1][2]
March 27, 1974; 52 years ago (1974-03-27) (as Food Terminal Incorporated)[1][2]
FounderFerdinand Marcos[2]
HeadquartersWestern Bicutan, Taguig, Philippines
Area served
Metro Manila,[3]
Nationwide (planned)
Key people
Porferio E. Mah (Chairman)
Joseph Rudolph Lo (President and CEO)
Revenue
  • Increase ₱276 million (2018)
  • ₱259 million (2017)
[4]
OwnerNational Food Authority
Websitefti.gov.ph

Food Terminal Incorporated (FTI) is a government-owned and controlled corporation (GOCC) focused on food processing and distribution in the Philippines. Headquartered in Western Bicutan, Taguig, it also operates a 120 hectares (297 acres) industrial estate that leases lots to small and medium-sized enterprises engaged in agricultural development, electronic raw materials, and other business endeavors.[2][5] Of this, 76 hectares (188 acres) were sold to Ayala Land and are now part of Arca South.[6] FTI is a major subsidiary agency of the National Food Authority (NFA).[7]

History

[edit | edit source]

It was a priority project of then Philippine President Ferdinand Marcos to revolutionize 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 April 30, 1968 (1968-04-30).[1] However, the estate was renamed to Food Terminal Incorporated (FTI) on March 27, 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

[edit | edit source]

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.[9] 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.[9][6] Ayala plans to turn the property into a mixed-use development, now known as Arca South.[6][10][11] 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][11]

Revival

[edit | edit source]

FTI will be revived by the Department of Agriculture (DA), with its reopening in Taguig.[4][8][10] FTI still has a 36-hectare (89-acre) area available, with 11 hectares (27 acres) occupied by informal settlers.[8][10] 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 Duterte's term.[4][8]

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

Current developments

[edit | edit source]
Aerial view of FTI Complex and surrounding communities
FTI Kadiwa Distribution Hub in Taguig

Arca South

[edit | edit source]
Main article: Arca South

Arca South is a mixed-use development owned by Ayala Land, Inc. occupying 74 hectares (183 acres) or 61.67% out of the 120 hectares (297 acres) of FTI.[citation needed]

FTI Special Economic Zone

[edit | edit source]

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:[citation needed]

Other

[edit | edit source]

FTI Corporate Center

[edit | edit source]

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)

[edit | edit source]

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

References

[edit | edit source]
  1. ^ a b c d e f g h i j Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  2. ^ a b c d e Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  3. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  4. ^ a b c d e f Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  5. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  6. ^ a b c d Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  7. ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  8. ^ a b c d e Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  9. ^ a b Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  10. ^ a b c Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
  11. ^ a b Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
[edit | edit source]
  • Error creating thumbnail: File missing Media related to Lua error in Module:Commons_link at line 62: attempt to index field 'wikibase' (a nil value). at Wikimedia Commons
  • Official website
  • Department of Agriculture (Philippines)
  • National Food Authority (Philippines)

Lua error in mw.title.lua at line 392: bad argument #2 to 'title.new' (unrecognized namespace name 'Portal').

Retrieved from "http://70.231.62.181/index.php?title=Food_Terminal_Inc.&oldid=15119488"