Philippine company Century Pacific Food inks a new long-term deal with Vita Coco to help fill the US firm's need for 90 million liters of coconut water over the next five years, as more consumers shift to 'healthier' drinks
Philippine company Century Pacific Food inks a new long-term deal with Vita Coco to help fill the US firm's need for 90 million liters of coconut water over the next five years, as more consumers shift to 'healthier' drinks
Century Pacific first entered into a partnership with Vita Coco in 2012 or over a decade ago, and has supplied it with its coconut water requirements. It said the new agreement with Vita Coco will require a capital expenditure of $40 million, and is expected to create at least 1,500 jobs in manufacturing.
Tempongko said the new agreement will further support the growth of the local coconut industry in the region. Century Pacific is now one of the Philippines’ biggest branded food companies. Its leading business is its tuna enterprise with its brandsin 2021. It is also in the meat business, producing canned goods such as Argentina Corned Beef and Meat Loaf. In 2001, it expanded into the canned milk market with its Angel and Birch Tree brands.The Philippines is the second largest producer of coconuts in the world, and has around 2.5 million coconut farmers, many of them in Mindanao.
It says coconut water is “clear, fat-free liquid,” low in calories and cholesterol-free, and “naturally rich in electrolytes, especially potassium.”
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