Company president Joey CocoArk is now in the final stages of negotiations with American and Australian firms for the distribution of the two brands in their respective countries.
"The potential of VCO to become another Philippine export winner is simply tremendous. CocoArk, for instance, is now in talks with distributors in the US and Australia for the sale of VCO in their markets," Villa said.
He said CocoArk has shipped out some 20 dozens of VCO samples to a US firm. CocoArk’s VCO may even reach Europe, he added.
CocoArk recently inked a deal with Rodzon Marketing Corp. (RMC) to distribute its Don Pedro VCO brand in leading supermarkets nationwide. RMC is a subsidiary of Samuya Corp. which manufactures Ludy’s peanut butter and coco jam.
VCO is fast becoming a popular dietary supplement not only among Filipinos, but also among foreigners, as it contains lauric acid –a nutrient found in breast milk which boosts the immune system of infants.
On the domestic front, Villa said the local VCO industry now sells around 150,000 to 200,000 bottles a month.
In terms of export, figures from the United Coconut Association of the Philippines (UCAP) show that from January to June of 2005, the country shipped out 340 metric tons (MT) of VCO to various foreign markets.
The amount is almost double the 177 MT local manufacturers shipped out in the same period in 2004. — Rocel Felix