MANILA, Philippines - International beverage firm Pepsi Cola has entered into a joint venture with Peter Paul Philippines, a local desiccated coconut producer, for the export of coconut water to the US.
Yvonne Agustin, executive director of the United Coconut Associations of the Philippines Inc. (UCAP), said that “if the schedule does not miscarry, the venture will have its first export in January next year.”
Agustin said Coca Cola is also reportedly trying to acquire fully or at least gain controlling interest in a coconut water company, to increase its exposure in the growing non-carbonated drink market.
According to Agustin, there is an increasing international interest on coconut water as a sports drink.
Coconut water as a sports drink, Agustin said, is gaining more acceptance as a healthier alternative to carbonated, sugar-laden drinks and fruit juices.
She said, the United States Department of Agriculture (USDA), has found — following research in 2006 — that coconut water contains a wide array of nutrients including vitamins (B6, folate, thiamin, niacin, panthothenic acid) and minerals (selenium, manganese, copper, zinc, potassium, chlorides, calcium, magnesium, with a modest amount of sodium, natural sugars and protein) and 18 amino acids.
Peter Paul Philippine Corp. operates the largest single production facility of desiccated coconut in the world, with a rated capacity of 22,000 metric tons per year.
Peter Paul is a premier producer of desiccated coconut and other coconut-based products such as virgin coconut oil, coconut flour/fiber, coconut milk and cream and other specialty products.
Peter Paul’s products are seen in all major markets such as North and South America, Europe, Asia and the Middle East.