First World Coconut confab set in August
Stakeholders in the Philippine coconut industry are intensifying moves to maximize the country's huge potential to profit from the multi-billion-dollar market, saying there is no other time than "now."
"The Time is Now" to shape the future of the global coconut industry, this is the shout-out made by the United Coconut Association of the Philippines (UCAP), following its announcement to hold the 1st World Coconut Congress in the Philippines.
In cooperation with the Philippine Coconut Authority (PCA), the Department of Trade and Industry (DTI) with the support of various chambers of commerce, the event will be held from August 14 to 16, 2018 at the SMX Convention Center Manila in Pasay City, Philippines.
It will be the flagship event of the 32nd National Coconut Week Celebration, which is organized by the PCA.
The Congress will deliberate every significant issue and facilitate links of more than 500 global stakeholders to assure the progress of this sector throughout the globe.
Known as the ‘tree of life," every part of coconut tree from the roots to leaves, can be utilized ranging from food, pharmaceuticals, healthcare, personal care, oleochemicals, crafts, furniture, and many others.
In the Philippines, the coconut industry is the top agricultural export revenue generator. Coconut exports reached over $2 billion (at least P100 billion) for the first time in 2017, making the industry among the few ones that bring more than a billion dollars to the national coffers annually.
To retain the Philippines’ position as the biggest exporter of coconut oil in the world, there is a need to address pressing issues that may pose significant impact to global coconut farming, UCAP said in a press statement.
Some of the world’s industry leaders and medical experts will gather to take part in the conference. Among them are Dr. Bruce Fife of the Coconut Research Center; Dr. Mary Newport of Spring Hill Hospital; Coconut Oil Refiners Association President Jesus Arranza; Strategic Development Cooperation Asia CEO Dr. Ivan Idrovo; and LMC International, Southeast Asia’s Dr. Julian McGill.
The highlight of the event will be the plenary sessions, which will facilitate sharing of insights — Coconut Supply and Value Chain; Processing Technologies; Product Innovations and Marketing Trends; Quality, Certifications, Labeling, and Safety Standards as Marketing Tools; and Health and Wellness.
The exhibit component of the Congress will give way to research firms and manufacturers to showcase their innovations, products, and services that are aimed at engaging and persuading decision makers from across various industries.
Another component of the Congress is the business matching facility (B2B) to be handled by the DTI.
The Philippines, specifically the 3.5 million coconut farmers are facing promising future, as the demand for coconut-based products such as Coconut Virgin Oil (VCO), are growing in a high speed.
The United Coconut Associations of the Philippines (UCAP) has assured farmers and makers of VCO and other processed coconut products of huge market, not only here but among Asian Pacific producers.
The United States in particular continues to crave over coconut and its health benefits, said UCAP Chairman Dean A. Lao Jr. in a statement.
While there has been misinformation on coconut oil apparently arising from competitor products (soybean oil), UCAP said the sentiment of the US consumer market is to defend coconut products.
“America still loves our coconuts," added Lao. Aside from America, Japan, and the wealthy Korean markets are also crazy about the use of VCO for beauty and health. This follows after series of several health-related studies, which shown that VCO has the highest potency level compared to other well-known oils like Morocco's Argan oil, Olive oil, among others.