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Copra Millers Of Fiji Looks To Restrategise, Maximise Profits

Copra Millers Of Fiji Looks To Restrategise, Maximise Profits
June 06
09:10 2015

Copra Millers of Fiji Limited, a state-owned enterprise, is restrategising in order to become more profitable.

While on one hand the opportunities/demand in the industry are increasing, on the other, the supply of copra has been decreasing over the years.

The company has come out of a big loss posted in 2012 of $1.57 million to record a profit of $44,627 (unaudited) in 2014.

A new chairman, Raj Sharma, has been recently appointed to head the company.

Mr Sharma, the general manager Risk and Governance at HFC Bank, is also the chairman of Rewa Rice Limited.

“What we are looking at is taking this company to a new level,” he said.

Moves are also being made to appoint a general manager who is expected to be someone who will take the company forward.

The board is now looking at how best it can maximise profits, expand the local and export market as well as produce more value added products.

 

Refinery

One of the things the board is looking at doing is setting up a refinery.

It has already called for expression of interest for the supply of a coconut oil refinery.

And although they are looking at a total investment of around $200,000 in the whole set-up of the refinery, the output would be their revenue-earner.

Mr Sharma said the coconut oil sold at the moment is not refined and can only be used for purposes such as massage and lighting diyas.

“We have also called for an expression of interest to get a refinery that would refine it and we would be able to sell it at a better market place,” he said.

“If you look at the coconut oil, currently it is sold in the local market for around $3.60 per 750 ml which means around $4 per litre – that is refined.

“Here we are selling ours at around $2.50 to $2.70 per litre not-refined.”

Feedback: rachnal@fijisun.com.

 

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