US firm to boost coco oil imports from Philippines
American organic food firm Nutiva will be importing at least 100 containers of coconut oil from the Philippines next year, slightly higher than its average demand of six to eight containers a month, as the market for the country’s coconut products continues to expand.
Nutiva president and chief executive John Roulac said the Philippines would continue to be the company’s main source of coconut oil imports.
“Right now, 100 percent of our coconut oil imports comes from the Philippines because you have the right skill sets, understanding of the industry, and facilities to produce good products. The quality is good and the price is good,” he said in a briefing Wednesday.
While also eyeing other countries for its coconut oil imports, he said the Philippines would continue to be its primary coconut oil supplier—a situation that is not likely to change anytime soon.
Nutiva started buying coconut oil from the Philippines in 2004, five years after the company was founded in 1999.
On the average, Roulac said Nutiva sells around 100,000 jars a month of its coconut oil through more than 10,000 outlets all over the United States. Of its $20-million annual sales revenue, 60 percent comes from coconut oil.
The company’s goal, he said, was to sell a million jars of coconut oil a month.
The government, through the Department of Agriculture and Philippine Coconut Authority, will be beefing up the country’s coconut production by next year to address the huge demand not only for coconut oil, but also for coconut water and other related products.
Agriculture Undersecretary Berna Romulo-Puyat said at least 500,000 nuts were needed to supply the potential demand for coco water in the overseas market.
To help jack up the country’s coconut supply, she said budgets for replanting and fertilization next year had been significantly hiked.
