Franklin Baker sees expanded coconut purchasing
DAVAO CITY — Coconut processing firm Franklin Baker, Inc. is expecting to increase its raw material requirements to two million nuts a day as it starts operating its new plant in Sta. Cruz, Davao del Sur, company officials said.
Jerome L. Lorenzo, the company’s president, last week said that it is looking at increasing its raw material purchasing as its new plant is set to go into full operation within four years.
At present, the company’s daily requirement is a fourth of its projected demand as it has been sourcing raw materials from coconut producing areas of the Davao Region and Zamboanga and in Eastern Visayas.
“This new facility allows us to scale up when future demand requires,” said Mr. Lorenzo, referring to its new plant which it bought from the CJ Toyota Tshusho Philippines, Inc., about three years ago.
The new plant, on a 15-hectare site and about 15 minutes by road from its first plant in the town, cost the company about P1.7 billion in investment.
The company decided to buy the new plant from its previous owners because of the increasing demand for coconut by-products abroad.
The new plant, said Mr. Lorenzo, will produce desiccated coconut, coconut water, coconut cream and virgin coconut oil which will be sold in the US, the Middle East and the rest of Asia.
The company, which has also a plant in Laguna, has been in the Davao Region since 1968.
Agriculture Secretary Emmanuel F. Piñol has invited the company to join the Philippine delegation in international trade fairs. “We would like to invite Franklin Baker because we would like to promote coconut products. We hope the company will find new markets,” said Mr. Piñol.
At the start of the second quarter, the company’s plants here will start producing coconut cream and milk and by the second half, packed coconut water will also be produced, said Mr. Lorenzo.
About two years ago, company off icials said they found it diff icult to source raw materials for their plants amid increased capacity. —