Health-conscious consumers fuel coconut oil exports despite pandemic

ABS-CBN News

Posted at Aug 17 2020 01:48 PM | Updated as of Aug 17 2020 02:42 PM

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MANILA - D&L Industries said Monday exports of coconut oil and chemicals made out of vegetable oil were "doing well" despite the pandemic as market from developed countries grows. 

D&L said it exports coconut oils and chemicals made out of vegetable oil, leveraging on raw materials available in the Philippines, said its CEO Alvin Lao.

Market growth in the US and Europe has been consistent, with more and more people adopting a healthier lifestyle, he said.

"Those exports are working very well particularly because there is a growing market appreciating better health, safety and so on and coconut oil is starting to show a lot of good things in terms of properties like anti-viral, anti-fungal, anti-bacterial," Lao said. 

"Our exports are doing well... the Philippines has a big advantage in terms of sourcing raw materials," he added.

However, its food side business "is not showing much growth" with the same prospects in the second quarter, Lao said. 

D&L remains confident that economic activities, which appear to be much vibrant during the reimposed modified enhanced community quaratine, will continue, he said. 

Metro Manila, Rizal, Cavite, Laguna and Bulacan remain under MECQ until Aug. 18, Tuesday until the government announces another update.