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Thursday, March 28, 2024

Exports to corner 50% of revenues, says D&L

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Food ingredients manufacturer D&L Industries Inc. said it expects the exports business to account for 50 percent of total production over the next few years.

D&L said in a disclosure to the stock exchange Friday the exports business will be driven by products where the company has a competitive advantage like food and oleochemicals that continue to gain traction in the global market.

Aside from their perceived natural antiviral and antibacterial and antifungal properties, coconut-based products are also benefiting from a shift toward more sustainable consumption trends. Coconut derivatives serve as non-toxic substitutes for petroleum-based raw materials used in many applications, such as personal hygiene and home cleaning products.

D&L exports currently account for 33 percent of total revenues.

Sales more than doubled in the first half of the year from pre-pandemic level in 2019 and rose 70 percent from the 2020 level. 

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