DENSO PHILIPPINES Corp. recently launched a P60-million hydroponic farm in Ibaan, Batangas in a bid to support the development of the country’s agriculture sector.
The project, introduced on Aug. 25, involves the commercial production of high-value crops such as microgreens, kale, arugula, herbs, and melons with the use of hydroponics.
Earlier, the Board of Investments (BoI) approved the registration application of Denso Philippines for the hydroponic farm project under the 2022 Strategic Investment Priority Plan.
The target markets of the hydroponic farm include hotels, restaurants, online market, culinary schools, and other food-related businesses in central business district areas across the Philippines.
“The farm involves the commercial production of vegetables using hydroponic growing technology with plans to use IoT (Internet of Things) for nutrient dosing and monitoring through sensors,” the BoI said in a statement on Tuesday.
“Hydroponics is a soil-less farming system that includes the process of growing plants with the use of mineral nutrient solution through an inert medium such as perlite, gravel, mineral wool, expanded clay, or coconut husk. Through hydroponics, water remains in the system and is reused, which, in turn, can decrease carbon footprint,” it added.
According to the BoI, the hydroponic project was endorsed by the Department of Agriculture (DA), and is seen to help achieve food security in urban areas across the country.
“Through hydroponics, water remains in the system and is reused, which, in turn, can decrease carbon footprint. In 2027, the global hydroponics market is projected to reach $13.4 billion,” the BoI said, adding that a 19.2% compound annual growth rate is forecast from 2021 to 2027.
“Denso’s high-value crops will be essential in supporting urban areas in the Philippines, as well as address the low local self-sufficiency of highland vegetables (22%) and the DA-forecasted deficit of 51,116 metric tons in Calabarzon, where the project will be located,” it added. — Revin Mikhael D. Ochave