Worawat Chinpinkyo, CEO and Managing Director, with Pattara Tasjun, Chief Financial and Information Officer of Thai Coconut Public Company Limited (SET: COCOCO), traveled to the Philippines earlier this week to survey locations and ingredients supply to expand the business into foreign countries, with the main goal of reinforcing the company’s ingredients sources, especially “coconut” which is the heart of the company’s business, in a bid to meet global demands.
The Philippines is the world’s biggest coconut producer, its tropical climate, lack of natural disasters, and large agricultural area make the archipelago nation the best country for coconut farming, producing high-quality ingredients for many processed products such as coconut milk, coconut oil, and other coconut products.
Furthermore, the Philippines has a relatively low labor cost, while processing proficient skills in the coconut industry. The island nation’s geography also plays a huge role in bolstering its exports due to its close proximity to both Asia and Western markets, reducing shipping time and increasing goods dispersion efficiency.
Worawat also noted that this collaboration with the Philippines would not only create new opportunities for the company but would also enhance the regional economy and strengthen the coconut industry as well. The Philippines trip reflects COCOCO’s commitment to become the leader of the global food and agricultural product industry, while also expanding its business into the international market.
