₱202.26 million coconut processing plant will rise in Baybay Leyte Visayas

The Board of Investments (BOI) has approved the 202.26 million project SC Global Food Products Inc., which will engage in the processing of coconut water and other coconut meat derived products in Barangay Caridad, Baybay Leyte.

The SC Global Food project will have an annual capacity of 18.72 million liters of coconut water, and 14,257 metric tons of coconut-meat derived products for exports. SC Global Food will export its coconut water production to the United States, while 90% of the coconut meat-derived products will go to other markets. The company will also produce virgin coconut oil, coconut flour, coconut cream, and white coconut meat. The project's commercial operations will begin January 2014 and will employ 200 workers.

Industry reports cited a growing worldwide demand for coconut water as alternative health sports drink. Data from the Philippine Coconut Authority (PCA) and the United Coconut Associations of the Philippines (UCAP) showed that coconut water exports for the first half of 2012 reached 10.2 million liters, nearly double the 5.7 million liters exported during the same period in 2011.

Coconut products exports also grew by as much as 102.9% for the month of June alone this year compared to same period last year, PCA data showed. Country's share of world coconut exports is 59%. Other non-traditional coconut products exported by the Philippines are bath oils and VCO, while traditional coconut product exports include crude coconut oil, copra, desiccated coconut, and copra oil cake or meat. The Philippine coconut industry is a key component of the country's agriculture sector, employing some 3.5M farmers and 25M direct and indirect workers.

The 2012 Investments Priorities Plan (IPP) of the BOI, the investment promotions blueprint of the government, lists the production or manufacture of non-traditional export products as among the activities for investment promotion.

Manila Bulletin 

Share on Google Plus

About Webber

I am among of the writers and administrators of this web site. I always on the heads up when it comes to Sports, Politics, Economy, Business, Physics, Mathematics, Technology, computers and NEWS all over the world that triggers ny eyes and interests. I am working as a volunteer with other 14 administrators, researchers, writers and contributors. We are a strong solid team. Join us and be among of the contributor with your name on each posted article.

    Anonymous or Google Comment
    Facebook Comment

YOU MAY LIKE TO READ

LEARN FOREX TRADING AND GET RICH

Investment Recommendation: Bitcoin Investments

Live trading with Bitcoin through ETORO Trading platform would allow you to grow your $100 to $1,000 Dollars or more in just a day. Just learn how to trade and enjoy the windfall of profits. Take note, Bitcoin is more expensive than Gold now.


Where to buy Bitcoins?

For Philippine customers: You could buy Bitcoin Online at Coins.ph
For outside the Philippines customers  may buy Bitcoins online at Coinbase.com