The Davao-based banana firm is signing a marketing contract with the China-based entity, local media reported.
ABC president Alex N. Valoria said the contract would allow the company to fetch better prices for its produce while providing the buyer with the best possible fruit, the Philippine-Canadian Inquirer reported.
Goodfarmer’s export-import operations include manufacturing, processing, transportation, sales and marketing of agricultural products.
“This [deal] will provide us with opportunities for [the] huge market and will also allow us to study possible expansion of our farms,” he was quoted as saying.
Trade relations between the two countries have been improving since Filipino President Rodrigo R. Duterte visited China a year ago, when he signed US$24 billion work of trade agreements.
Valoria said the partnership with Goodfarmer would allow both companies to grow their respective businesses as the banana producer will have a stronger marketing arm and the trading company will have a primary source of premium produce.
“This is a very good synergistic relationship,” he was quoted as saying.
Under the marketing contract, the ABC is selling 840,000 boxes of Class A bananas to Goodfarmer for two years.