Axelum coco water factory line to start

AXELUM Resources Corp., a manufacturer of coconut products, said on Thursday it has commissioned its new pressed coconut water processing plant and has started producing the product variant for Vita Coco.

Axelum said it remains on track to meet its commitment of at least 25 million liters of coconut water to anchor client Vita Coco this year.

“Despite the numerous challenges brought about by this ongoing pandemic, we continue to see improving performance and have returned to year-on-year revenue growth. We are confident of sustaining this uptrend through the end of the year and a sharp rebound in 2021,” Henry J. Raperoga, the company’s president and COO, said.

Pressed coconut water offers a nuttier and sweeter taste than traditional coconut water without additional sugar content, the company said.

It said the company will increase its coconut water production volumes with the commencement of commercial operations of its pressed coconut water line.

Axelum said it is also receiving increased orders of both organic and fair trade coconut products, generating higher selling prices and earning fair trade premiums that help coconut farmers enrolled in the fair trade program.

Axelum is finalizing the completion of its new spray-drying facility, which will double the potential output of its organic coconut milk powder segment and support growth in 2021 and beyond.

“Offshore, Axelum is in discussions with new distribution partners for both existing and unserved markets,” it said, adding it is on the lookout for possible acquisitions in the food manufacturing sector.

“We have successfully adapted to this new normal environment. Notwithstanding all these prolonged uncertainties, we are staying focused and determined to attain our growth aspirations,” Raperoga said.