Thai Coconut Public Company Limited (SET: COCOCO), is moving forward with its business expansion into the Philippines! The company has signed a Memorandum of Understanding (MOU) with Anflo Industrial Estate in the Philippines to establish a coconut milk production plant. This expansion aims to support market growth in the U.S. and Europe while enhancing its global competitiveness.
Dr. Worawat Chinpinkyo, CEO and Managing Director of Thai Coconut Public Company Limited (“COCOCO”), a leading Thai manufacturer, distributor, and exporter of processed coconut products, revealed that the company has signed an MOU with Anflo Industrial Estate (AIE) in Panabo City, Davao del Norte, Philippines. The agreement establishes a subsidiary for coconut milk production and other coconut-based products. This move aligns with the company’s board-approved investment project in the Philippines, valued at approximately 430 million baht, to expand its coconut milk product line.
“COCOCO will begin with canned coconut milk production as the first phase and plans to expand into other coconut milk packaging formats in response to growing market demand, especially from customers in the U.S. and Europe. Additionally, this venture presents new business opportunities by providing access to lower-cost coconut raw materials and leveraging special economic zone benefits in the Philippines. These advantages will reduce raw material costs, improve logistics efficiency, strengthen the company’s supply chain, and enhance its global market competitiveness,” said Dr. Worawat.
Anflo Industrial Estate (AIE) is one of the Philippines’ leading private industrial estates, located in Panabo City, a key hub for the country’s coconut and agricultural industries. Strategically positioned near the Davao International Container Terminal (DICT), one of the most modern ports in the Philippines, the location ensures efficient transportation of raw materials and finished products, reducing logistics costs and enabling rapid exports to major markets.
Additionally, AIE provides comprehensive infrastructure, including modern utilities such as electricity, water supply, wastewater treatment, and warehousing facilities, all designed to support industrial-scale production. The site also benefits from its proximity to abundant coconut resources, as the Philippines is one of the world’s largest coconut producers. The surrounding areas of AIE are known for high-quality coconut cultivation, ensuring direct access to fresh raw materials, reducing costs, and enhancing supply chain stability. These factors will contribute to the company’s sustainable business growth.
