Philcoa cites expanding market for virgin coconut oil products

The market for virgin coconut oil has been growing, locally and internationally, year after year, said regional manager Deodiro Ravelo of the Philippine Coconut Authority.

The demand for VCO started to double since 2001 and multiplied further when more people became aware of the health and economic benefits from the product, Ravelo said.

In 2001, the world market demand for VCO was at 20 metric tons and had since doubled the next year that doubled also in the succeeding year, he said.

Ravelo said that on 2001 also, the Philippines only produced 1.8 metric tons of VCO for export, and from then on, production increased to 475 metric tons by 2005.

Last year, the country according to Ravelo produced an estimated total of 600 metric tons of VCO, which was still far from the estimated overseas demand of 3,000 metric tons. “This shows that there is a promising future in the VCO business,” he said.

There are now close to 300 VCO manufacturers in the country, excluding those producers under the backyard business concept.

VCO product has attracted a growing number of clientele, especially with the reports that it could reduce, if not wipe out, the dreaded human immunodeficiency virus (HIV). The 1999 study of VCO showed that it contains lauric acid that could inhibit, delay, and reduce the spread of HIV. 

VCO has been known also to combat fungi, bacteria and virus-caused illnesses, to oxidize the skin and moisturize the hair. — Ferliza C. Contratista/RAE