Century Pacific Food to help coconut farmers in Mindanao

CENTURY Pacific Food, Inc. (CNPF) has launched a project that enables consumers to help coconut farmers in Mindanao through the purchase of a bundle of the company’s plant-based products. The listed food company said in a stock exchange disclosure on Monday that one coconut tree will be planted for every sold pack, which contains Coco Mama, Vita Coco, and UnMeat brands that will be made available during Earth Week 2021. CNPF partnered with non-profit organization Hope for the initiative. “On top of expanding coconut supply in South Central Mindanao and helping augment the income of 16,000 farmers and their families, these new coconut trees are also expected to offset about 416,680 metric tons of greenhouse gas emissions, allowing CNPF’s coconut business to be ‘carbon neutral’ by 2028,” the company said. Further, CNPF said proceeds from the sold bundles will also go to coconut farmer beneficiaries in Sarangani province. According to the company, the project is part of its sustainability program that seeks to provide Filipino farmers with 100,000 free coconut seedlings annually over the next five to eight years. The company added that consumers can support the project by purchasing bundles of Coco Mama, Vita Coco, and UnMeat at its food stores in Shopee and Lazada until April 25. For 2020, CNPF posted a P3.9-billion net income, an increase of 24% year-on-year due to higher revenues from its branded business segment. Its consolidated revenues improved 19% year-on-year to P48.3 billion. On Monday, shares of CNPF at the stock exchange increased 5.26% or P1 to finish at P20 per share. — Revin Mikhael D. Ochave