The increasing number of backyard production of Virgin Coconut Oil (VCO) is slowly affecting the integrity of Philippine-made VCO products abroad.
For this reason, the International Pharmaceutical Inc. (IPI) is poised to improve the market packaging of its “Esher VCO” product, which is now penetrating the markets of Australia and Canada.
“We are trying to develop new packaging for [our] VCO products. A lot of backyard production here are affecting the integrity of the product [abroad],” said Maureen O. Galvelo, IPI assistant manager for international trade department.
According to Galvelo there is huge potential for VCO products to hit the global market, especially the European Union (EU) member countries, but a brand should be packaged well in order to eradicate the impression of sub-standard quality.
VCO products is seen to hit the European consumers who are now embracing natural-based food supplement, already including the oil sourced out from the Coconut—which is known as “tree of life”.
According to Dr. Vermen M. Verallo-Rowell, coconut oil is lower in calories, and is considered cancer-innocent and has actually been found to be antigenotoxic, which indicates that it helps prevents the formation of cancer cells. It is also a good weight loss food supplement.
VCO is also found out to be an effective skin moisturizer and has anti-septic and anti-oxidant properties that help slow down ageing.
In 1999, the Philippines ranked 3rd in world production of coconut next to Indonesia and India, and accounts to 23 percent of the total world produce. Coconut is grown as a major crop in many provinces in the country, a total land area of more than three million hectares devoted to coconut product.
With the ample raw material supply in the Philippines, the country has become one of the primary sources of VCO products globally.
Galvelo said IPI’s Esher VCO is one of the company’s hot export products now gaining market penetration in other countries, along with its Omega Pain Killer, Liniment Cream (its version of Bengay), Casino (70 percent) Rubbing Alcohol, Bioderm soap, Dr. Wong’s Sulphur soap, and Efficascent Oil.
Last year, rival company Splash Corporation announced its positioning to North American and European markets for its VCO food supplement product lines.
Galvelo said the IPI will stress its world-class quality VCO, through good packaging which is one of the primary requirements of foreign markets.
Aside from these big companies which are taking advantage of the VCO’s popularity as food supplement, there are a growing number of “mom and pop” operations that also trying the take advantage of the strong VCO product demands here and abroad.
In 2007, IPI exports grew by 61 percent, compared to the previous year.
This Castillo-owned company expects to double its export figure growth after it completes its Food Drug Administration (FDA) registration in the United States, and a series of food registration requirement in the European Union.