PT Mayora Fulfills MOU Commitment, Begins Importation of Desiccated Coconut From PH This April

PT Mayora of Indonesia confirmed that they have begun the importation of desiccated coconut from the Philippines following the signing of a Memorandum of Understanding (MOU) last April 1 between the Company and PH-based Franklin Baker Company for the annual purchase of 1,000 metric tons of desiccated coconut. Franklin Baker will ensure the availability and sustainability of coconut supply for Mayora.

Mayora has initially fulfilled its commitment to the MOU by importing 52 metric tons of desiccated coconut through PT Lucky Intercoco. The initial shipment is expected to reach the Mayora factory by May 1, 2019.

The MOU between Franklin Bakery Company and PT Mayora was signed by Hermie Limbo, Franklin Baker Chief Operating Officer; Robert Poppy, PT Lucky Intercoco President Director; and Andre Atmadja, President Director of PT Mayora Indah. This MOU was signed after the completion of the Bilateral Trade and Investment Meeting between the Philippines and Indonesia in the presence of Philippines Department of Trade and Industry Secretary Ramon M. Lopez, Republic of Indonesia Minister of Trade Enggartiasto Lukita, and Philippines Department of Agriculture Secretary Emmanuel Piñol.

Franklin Baker, a privately-held Philippine owned company, is one of the largest global suppliers of coconut products, shipped to over 50 countries worldwide. A leading and preferred supplier of coconut products to many major food and beverage manufacturers, the company produces a full range of products that includes Desiccated Coconut, Speciality Coconut, Coconut Water, Coconut Flour and Virgin Coconut Oil.