Coconut Palm planning to invest in fruit juice factory

COCONUT Palm Group Co Ltd is planning to invest in coconut plantations and set up a factory in Cambodia to produce fruit juice, said its general manager Zhao Bo at a recent meeting with Minister of Agriculture, Forestry and Fisheries Veng Sakhon.

The company is the biggest natural plant protein soft drink producer in China and specialises in processing tropical fruits such as coconuts.

News of the meeting and Zhao’s visit was posted on the ministry’s Facebook page on Wednesday.

During the meeting, Sakhon said the ministry is pleased to support the company’s investments in Cambodia.

“If we incorporate suitable growing techniques for producers, it will help to boost coconut production with high prices and good demand,” Sakhon said, adding that the ministry estimates that the company will need some 14,000ha for the plantation.

The ministry said in 2016, coconut was cultivated on a total of 16,935ha in Cambodia, mainly in Preah Sihanouk, Kampong Speu and Kampot provinces.

Zhao stressed that the purpose of the initial visit to Cambodia is to ascertain the potential for investing in coconut plantations.

“We need to study the demand for the nut and its market potential before establishing a natural juice factory to supply the domestic and international markets,” he said.

Zhao said the Coconut Palm Group, located in Hainan, has annual revenues of $400 million and uses 600,000 coconuts a day in its production. The company also employs 6,000 workers and exports its juices to 38 countries.

The company, he said, was established 31 years ago, and in 2016, it paid 603 million yuan ($86.2 million) in taxes – 201 times more than it did in 1985. “Our company’s development has helped to promote the tropical fruits planting industry in Hainan,” Zhao said.