Ares Merchants Philippines Inc. (AMPI) will begin operating its coconut oil refinery in Europe next year, a move aimed at expanding its global presence and boosting local operations. AMPI Managing Director Jose Leonardo Tañada announced that the company has partnered with the Philippine Coconut Authority (PCA) to select cooperatives for the project.

"By selling coconut oil in the EU, these cooperatives can benefit from a financial premium, generating more than $2 million annually. This collaboration not only enhances the income of local farmers but also strengthens the overall coconut industry in the Philippines," Tañada said.

AMPI plans to refine coconut oil in the first Philippine-owned refinery in Europe and sell it directly to end-users in the EU market. The company aims to export approximately $2.768 billion worth of coconut oil from 2025 to 2035, supporting the Philippines' broader goal of strengthening its coconut industry.

Tañada recently attended the 2024 Presidential Awards for Outstanding Micro, Small, and Medium Enterprises (MSMEs) and Presidential Recognition for Outstanding Development Partners at Malacañang. He emphasized that AMPI's commitment to empowering coconut farmers and MSMEs will provide direct access to end-users among MSMEs, challenging conventional industry practices and maximizing the sale of coconut oil as a value-added commodity.