DA flags prospect of European coco oil orders

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coconut farmer

THE Department of Agriculture (DA) said the representative of an Austrian-registered firm which controls a distribution network in Eastern Europe is currently inspecting coconut oil mills in southern Luzon to explore the possibility of producing coconut products for export.

“Monaco-based Russian businessman Igor Malyshkov firmed up his Coconut Oil and Products Supply agreement last night (Tuesday night) with the Coconut Industry Investment Fund Oil Mill Group (CIIF-OMG),” Secretary Emmanuel F. Piñol said in a social media post on Wednesday.

“Tomorrow, Malyshkov will travel to Mulanay, Quezon to inspect a mothballed Southern Luzon Coconut Oil Mill and to the San Pablo Oil Mill in Batangas, which produces coconut oil products under the Minola brand name,” Mr. Piñol added.

“Malyshkov said he will consider leasing the mothballed oil milling facility in anticipation of huge demand for coconut products once it is introduced to Eastern European consumers.”

The official Philippine News Agency on Monday identified Mr. Malyshkov as representing Arteks Generation, an Austrian-registered company that can distribute product across 5,000 outlets. The report said Arteks is also interested in importing palm oil and pineapple.

Mr. Piñol claimed that Mr. Malyshkov can tap a distribution network of 15,000 outlets. He did not explain the discrepancy with the earlier report.

The report said Mr. Malyshkov also represents BANEX Group, with offices in Moscow and Ecuador, which is exploring the possibility of sourcing banana products from a site of about 7,000 hectares in the Bangsamoro region. — Reicelene Joy N. Ignacio