Axelum Resources Corp., the Philippines’ leading manufacturer and exporter of coconut food products, expects a stronger 2nd half performance, driven by robust volume growth and higher average selling prices across most product segments.
Its core products include desiccated coconut, sweetened coconut, and coconut milk and cream, which accounted for more than half of its total revenue, and increased by 72%, 7%, and 69% respectively. Meanwhile, coconut water, the fastest-growing product segment, grew by 28% and is on-pace to achieve record production output this year.
In terms of geographical performance, Axelum witnessed double-digit growth for all key export markets like the US, Europe, Australia and Asia, while domestic sales rose by 56% attributed to broader distribution channels and an emerging institutional business.
Despite of global supply shortfall and rising prices of coconuts, manufacturers like Axelum benefited from rising consumption and consumer willingness to pay a premium for coconut-based products like coconut water, milk and oil.
Axelum is in the process of developing new retail offerings scheduled for launch before the end of 2025, aligned with its aggressive consumer-led strategy.
