BoI approves new coco product exporter
The Board of Investments (BoI) has approved the application of All Bright Resources International, Inc., a Canadian-Chinese company, as a new export producer of coco fiber and coco peat.
In a statement on Tuesday, the bureau said All Bright’s P30 million project is expected to produce up to 6,327 metric tons (MT) of coco fiber and 5,062 MT of coco peat annually in its plant in Sta. Maria, Davao del Sur.
Output will be shipped to China, Korea, Japan and other neighboring countries as operations already began last September with a manpower of 124 personnel.
The Canadian-Chinese firm says the raw materials will be sourced from the farmers in Malita, Sta. Maria, Kidapawan and other municipalities of Davao del Sur.
“This project will hopefully usher the coconut industry to fully explore its potential not only as one of the most nutritional products but also one of the most versatile ones in terms of consumer products given its multiple uses,” Trade Undersecretary and BoI Managing Head Ceferino Rodolfo said in the statement.
Coco fiber is made from the outer shell of a coconut while the coco peat is a natural fiber made out of coconut husks.