FTI was the offshoot of a Presidential directive issued on January 1967,
creating a committee assigned to look into the upliftment of the agricultural
economy of the country. In turn, the committee endorsed a system designed to ensure price stability and increased productivity. It led
to the foundation of the Greater Manila Terminal Food Market (GMTFM)
on April 30, 1968 through Presidential Decree No. 347. Under the management of Development Bank of the Philippines, it was registered as a private corporation with the Securities and Exchange Commission (SEC) on May 3, 1968.
In 1969, operations commenced on an interim basis.
In 1973, GMTFM was converted into an Agro-Industrial Commercial Estate.
From direct trading of commodities, storage and food processing, it
subsequently expanded its service capability to include retailing, transport
services, and real estate leasing. On March 27, 1974, a new corporate name for GMTFM was adopted:
FOOD TERMINAL INCORPORATED.
The company's major activities
in the 1970s include storage, food processing, research and quality
control, marketing services, and trading. Its storage facilities included
the Central Refrigerated Warehouse (CRW) with chilling rooms, freezer
storage, ice plant, blast freezers and refrigerated processing rooms.
Also, it has a slaughterhouse, chicken dressing plant and a multi-purpose
warehouse for dry storage, food-processing facilities for grading, handling
and packaging for foreign market.
In April 1979, the Human Settlements
Development Corporation took over the ownership and management of the
In April 1980, by virtue of Letter
of Instructions No. 1013, FTI was classified as a Government Owned and
Controlled Corporation. The
FTI then became a major subsidiary of the NFA to further strengthen
its position in the integrated growth and development of the food industry.
In the 80s, FTI was actively involved in the retailing
of basic commodities at government subsidized prices through the Kadiwa
Program. Food trading, food processing, including slaughtering operations
were suspended in 1989 because of conflict with free trade market forces.
After operating continuously for 30 years, cold storage also ceased
operations in 2004 due to technical problems and viability concerns.
At present, FTI basically operates as provider of:
a.) prime industrial and commercial lots for medium-to-long term leases;
b.) industrial buildings with standard-sized stalls ideal for office,
warehouse or small-scale processing operations. Although disengaged
in food trading, processing and storage, the company is still into intensified
promotions as an agro-industrial-commercial estate by providing leasable
facilities and buildings that cater for the needs of food producers,
manufacturers, exporters and other sectors in the food industry.