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Coca-Cola Femsa to hike local sugar sourcing

MANILA, Philippines — Coca-Cola FEMSA Philippines is hiking its local purchase of sugar next year as it remains keen on helping develop the country’s sugar industry.

Coca-Cola FEMSA said it would buy more locally-sourced sugar to use in its products next year in line with its commitment to contribute to the growth and robustness of homegrown industries.

The planned additional purchases will further augment the firm’s track record of buying substantial amounts of domestic sugar since it started operations in the Philippines in 2013.

Last year, Coca-Cola FEMSA purchased around 1.1 million bags of local sugar as part of its manufacturing operations.

This year, the company boosted its partnership with the industry by purchasing two million bags of sugar or an increase of over 80 percent from 2016.

Coca-Cola FEMSA said the planned sugar purchases for 2018 would sustain the company’s thrust to be an ally of the local sugar industry, while also cementing its status as one of the top purchasers of domestic sugar.

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The firm said it already made sugar purchases for the year ahead to provide additional support to the nation’s sugar farmers and help alleviate their concerns regarding fluctuating sugar prices.

Its bottling facility in Bacolod City, Negros Occidental has been using 100 percent locally-sourced sugar in its beverages since it opened in 1998.

 The company completed this year the P850-millon expansion of its Bacolod facility.

 Coca-Cola FEMSA said the subsequent increase in the plant’s production output has ensured a corresponding increase of sugar that the company purchases directly from the local industry.

 It had already invested $1.5 billion in the Philippines from 2010 to 2014 and has made commitments to invest $1 billion more until 2022.

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