PHILIPPINES September 2019
Axelum to focus more on Coconut Milk Powder
Philippines’ coconut products manufacturer, Axelum Resources Corp. hopes to take advantage of the growing demand for coconut milk powder as more people turn to healthier dairy milk alternatives.
Axelum plans to develop the market for coconut milk powder since it has one of the highest margins among its product offerings. Axelium President, Henry J. Rapegora said, “In particular, the company is exploring the introduction and production of more gluten-free, dairy-free, and organic variants of existing product offerings.”
Axelum highlighted that coconut milk powder exports have grown annually by 38% in volume terms and 60% in value terms. The Netherlands, Japan, US, France and Australia are among the major markets.
Axelum hopes to capitalise on this growing demand as it still has ample production capacity at its manufacturing plant. The company's main production facility is located in Medina, Misamis Oriental. It also owns 2 manufacturing and distribution facilities in the US and Australia, and has distribution agents in key cities in the world.
Axelum is also one of the major suppliers of coconut water to Vita Coco, exporting 25 million liters of coconut water in 2018. It also supplies to several global brands such as The Hershey Co., Nestlé, Unilever, Ferrero, General Mills, Campbell's and ConAgra Foods among others.
Apart from coconut milk powder, Axelum also manufactures coconut fat, sweetened/toasted/roasted desiccated coconut, and coconut cooking oil. Axelum is planning for IPO soon and is now waiting for final approval from the Philippine Stock Exchange, Inc. Proceeds from the IPO planned in October will be used to finance Axelum's target acquisitions that will allow it to further expand to the US, Europe, Middle East and major countries in Asia.



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