San Miguel’s prepared and packaged food business sees 9% growth

Revenue from San Miguel‘s prepared and packaged food segment grew 9% in the nine months through October 2020, as packaged food became an essential item for consumers under the “new normal.”

Sales of canned meats such as Purefoods Corned Beef, SPAM and Tender Juicy Hotdog increased by double digits.

SMC said, “Dairy products and breakfast items were also big hits during the quarantine.”It also released a line of heat-and-eat versions of Filipino favorites such as kare-kare, a peanut-based stew.

The packaging business also increased deliveries to pharmaceutical, beverage and food customers as well as to the export market, according to its financial statement.

Llena Arcenas, San Miguel Foods Culinary Center manager, shared, “More restaurants will go digital, and that is why resto meal kits and the availability of their proprietary ingredients will be their creative divergence, from regular food takeout or delivery.”

Source: https://www.bworldonline.com/filipino-entrepreneurs-ride-wave-of-food-deliveries-during-pandemic/

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