Business and Economy
Coca-Cola to buy more local sugar
FILE: Coca-Cola Company (Photo: COCA-COLA Philippines/Facebook)
MANILA — Beverage firm Coca-Cola FEMSA Philippines (KOF) plans to buy more sugar from local sources for its beverage manufacturing activities next year.
The company said Thursday it bought two million bags of local sugar this year, up more than 80 percent from 1.
1 million bags in 2016.
“The planned sugar purchases for 2018 promise to sustain this tradition of being an ally of the local sugar industry, cementing KOF’s status as one of the top purchasers of domestic sugar.
,” the firm said in a statement Thursday.
“KOF 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,” it added.
In 2013, KOF acquired 51 percent of Coca-Cola Bottlers Philippines, Inc. (CCBPI), and since then the firm committed to buy more locally sourced sugar for its beverage manufacturing here.
Just this year, KOF completed its PHP850-million expansion for its bottling facility in Bacolod City.
Since the Bacolod bottling plant started operation in 1998, it sources 100 percent of sugar requirements from local planters. (PNA)
