Consunji Family Ventures into Agriculture to Boost Rural Development

What's Happening?

Isidro 'Sid' Consunji, chairman of DMCI Holdings Inc., announced plans to invest in agriculture as part of his retirement strategy. During the FINEX Conference, Consunji highlighted the lack of investment in agriculture by major conglomerates and emphasized the sector's potential to alleviate poverty. The Consunji family is converting former logging areas in Mindanao into plantations for rubber, palm oil, coffee, and durian, creating jobs for over 3,000 people. They plan to expand their agricultural ventures to Visayas, with a focus on African palm oil projects and reforestation efforts.

Why It's Important?

Consunji's investment in agriculture could have significant socio-economic impacts, particularly in rural areas where poverty rates are high. By developing marginal lands and creating sustainable livelihoods, the initiative aims to improve living standards and reduce inequality. The focus on agriculture also addresses food security and environmental sustainability, as reforestation projects contribute to carbon credits and ecological restoration. This move could inspire other businesses to invest in agriculture, potentially transforming the sector and boosting the economy.

What's Next?

The Consunji family is in the final stages of securing permits for their African palm oil project in Negros Occidental, aiming to develop 6,000 hectares in the next two years. They also plan to expand their reforestation efforts, potentially planting 1.5 million trees over 15,000 hectares. These initiatives could create thousands of jobs and improve infrastructure in rural areas, fostering community development and economic growth.

Beyond the Headlines

The shift towards agriculture raises questions about land use and sustainability. While plantations offer economic benefits, they must balance development with environmental preservation. The Consunji family's approach includes a 'plant-now-pay-later' scheme to support small farmers, promoting inclusivity and shared prosperity. This model could serve as a blueprint for sustainable rural development, addressing both economic and ecological challenges.