The Board of Investments said Tuesday it approved the application for registration of the P924-million desiccated coconut project of Consolidated Coconut Corp.
“Indeed, we are making headways in sustaining Philippine exports, particularly desiccated coconut with the approval of the project by Consolidated Coconut Corp. We are truly seizing the opportunity, as the Philippines is the top producer of such product globally,” said Trade Undersecretary and BOI managing head Ceferino Rodolfo.
The company will start the production and export of desiccated coconut in September 2022 to more markets overseas. Its plant will operate from Plaridel, Misamis Occidental with an annual capacity of 93,750 metric tons of desiccated coconut.
The BOI said the project would build on the country’s competitive advantage in manufacturing and exporting desiccated coconut.