PHILIPPINES: Coca-Cola FEMSA boosts sugar purchases by 80%
Published: 12/07/2017, 1:53:17 PM
Coca-Cola FEMSA Philippines (KOF) said its purchases of sugar from local farmers rose 80% this year to 2 million bags from 1.1 million in 2016, according to the Philippines' Malaya newspaper.
In a statement, KOF said it would be buying more locally-sourced sugar to use in its products, a commitment undertaken since it started it operations in the Philippines in 2013.
The statement did not indicate the amount of sugar to be purchased in 2018, but said this would cement KOF's status as one of the top purchasers of domestic sugar.
It said the company already made sugar purchases for the year ahead to provide additional support to the nation's sugar farmers, helping alleviate their concerns regarding fluctuating sugar prices.
KOF's bottling facility in Bacolod City, Negros Occidental has been using 100% locally-sourced sugar in its beverages since it opened in 1998.
KOF also completed the PHP850-million (US$16.8 million) expansion of its Bacolod facility just this year.
This subsequent increase in the plant's production output translated to a corresponding increase in sugar purchased directly from the local industry.