A large multi-national agro-industrial corporation based in Monaco has signified its intention to import a huge volume of Coconut Oil and other Coconut Products from the Philippines starting immediately.
BANEX Corporation representative Igor Malyshkov, who called on the Philippine Agriculture Secretary today, said that the corporation which also has offices in Moscow and Ecuador will also be importing other agricultural products from the Philippines like Palm Oil, Bananas and Pineapple to be sold in some 5,000 outlets all over Eastern Europe.
His visit to the Philippines came after weeks of negotiations between the Agriculture Secretary and intermediaries.
Malyshkov, who holds office in Monte Carlo, Monaco and is visiting the Philippines for the first time, said the interest of BANEX Corporation in Philippine Agricultural products was a result of the visit of President Rody Duterte to Moscow in May 2017.
“This is a totally new area for us and we are going to be dealing with new and exciting products,” Malyshkov said in an exclusive interview with ABS-CBN’s Henry Omaga-Diaz today.
“Coconut and many of its other products will surely be a hit in the Eastern European market where consumers are becoming more health conscious,” he said.
BANEX Corporation is mainly involved with Banana growing in Ecuador which it sells to the Russian Federation and the Eastern European markets.
He said BANEX will now venture into the trading of Coconut products, including Palm Oil, Pineapple and Bananas.
“The market is huge and we have the infrastructure and network of over 5,000 outlets to distribute the products that we will source from the Philippines,” said.
Tomorrow, representatives of the Philippine Coconut Authority (PCA), a team from the banana and pineapple industry and the North Cotabato Palm Oil Corporation will brief Malyshkov and his group on the business prospects in the Philippines.
He said the importation of Coconut and Palm Oil will start immediately after supply agreements with local oil milling companies have been signed.
This development is expected to push up prices of Coconut and Palm Oil, which have been very low in the last few months, and save farmers from hardships.
Report written by: Manny Piñol