CEBU, Philippines — Cebuano-owned Berben Logistics Inc., has expanded its cold storage warehouse facility, responding to the growing demand for storage spaces in Cebu, particularly from the food industry.
In an interview with Berben Logistics Inc., president Benedict Benedicto, he said that the company’s cold storage will be expanded to 5,000 pallets from 3,500. Each pallet could store at least one ton.
According to Benedicto the demand for cold storage has witnessed a significant surge following the once of the COVID-19 pandemic.
“We have seen increasing demand for cold storage since the Covid-19 pandemic. We’ve also seen growing importation of raw materials for food manufacturing,” he added.
Anticipated this trend, Benedicto announced that the company projects that before the end of 2024, its specialized storage facility will be capable of accommodating even large tonnages.
Berben Logisitics, a company under the BE Group of companies, is one of the few firms in Cebu that diversified in the promising warehousing needs in Cebu, particularly for larger cold storage facilities following the COVID-19 pandemic.
Located in Mandaue City, Berben Logistics Inc., also operates not only cold storage facilities, but also for dry storage requirements.
According to a report published by Ken Research, the logistics industry contributes four to six percent to the country’s Gross Domestic Product (GDP).
Because of this, the Philippine logistics market is expected to grow a compound annual growth rate of 8.2 percent from 2022 to 2027, reaching a market size of P1.160 trillion by 2027.
The Philippine Board of Investments (BOI) estimated that the cold chain industry will reach around US$378.4 million in 2023.
The sector, according to BOI plays a crucial role in ensuring the country’s logistics system is stable to preserve essential food products, prevent food wastage and provide efficient vaccine distribution.
Under the Philippine Cold Chain Roadmap launched in 2020, the sector aims to increase the country’s current storage capacity by 10 percent to 15 percent annually, or an additional to 50,000 pallets annually.
Warehouses across the country include; cold storage, cold and dry storage, and integrated cold chain facilities. — (FREEMAN)