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Friday, March 29, 2024

BoI approves P391-m coco processing plant

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The Board of Investments approved the proposal of Ahya Coco Organic Food Manufacturing Corp. to set up a P391-million coconut processing plant in Barangay Gumalang, Baguio district, Davao City. 

“With the growing demand for coconut products abroad, the country, as one the world’s largest coconut producers, hopes to address such demand,” said Trade Undersecretary and BoI managing head Ceferino Rodolfo.

The project falls under the production and manufacture of export products category of the 2017 Investment Priorities Plan that gives non-pioneer incentives to non-traditional products for exports by fully-Filipino-owned or at least 70 percent Filipino company with foreign component.

Formal operations of the agriculture company started in December 2016 with 396 employees.  

The facility is producing canned coconut milk of about 7,286 metric tons per year, 6,970 MTPY canned coco water, 485 MTPY of virgin coconut milk and 1,061 MTPY of coconut flour. 

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Ahya secures its coconut requirements from the farmers in Davao del Norte, Compostela Valley Province and Davao del Sur. 

The production process for coconut water involves the de-husking of coconuts, filtration and collection, pasteurization and canning.

The processing of coconut milk, meanwhile, comprises shelling, paring, extraction, pasteurization and canning. Virgin coconut milk and flour involves drying, extraction and packing. 

The company plans to export all products to the United States, China and Europe. 

Exports of coconut products amounted to $1.410 billion in 2016, slightly up from $1.404 billion in 2015, according to the Philippine Statistics Authority.

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