Copra Body Rebrands As Fiji Coconut Millers

Copra Millers of Fiji was rebranded yesterday to Fiji Coconut Millers (Pte) Limited, as the company announced its plans to introduce a range of value-added products.

Chairman Raj Sharma said the company is testing coconut juice amidst plans to can the beverage.

Since 2016, Fiji Coconut Millers had continued to revise the optimum output on copra.

The role of the company has moved from extracting crude oil from copra to manufacturing virgin coconut oil.

Tests

Within the next two weeks, Fiji Coconut Millers will announce the outcome of its plans to sell edible coconut oil, Mr Sharma said.

The announcement hinges on tests conducted to refine coconut oil for cooking purposes, he said.

Over the past two years, the Government provided almost $1 million to support the company, Mr Sharma said.

In 2016, when the coconut industry was on its knees, the Government paid farmers $20 to plant a coconut palm, bringing to 58,000 the number of coconut trees planted to date in the name of Fiji Coconut Millers, Mr Sharma said.

“The success rate to date is 92 per cent.”

In the lead up to rebranding, Fiji Coconut Mills invested almost $300,000 was invested in new mills, Mr Sharma said.

Virgin oil

Fiji Coconut Millers gained over $500 million from its virgin oil product, he said.

Over the years, the company had noted a decline in profits, Mr Sharma.

That was, until last year where he turned the company around to make a decent profit of $60,000, despite the 40 per cent reduction in world market prices on coconuts, he said.

The rebranding follows 35 years ago after the company was launched, said company general manager John Deo.

Limitations

Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum said the previous name of the public enterprise held limitations.

“Copra is very limiting in itself.”

He said Copra Millers was part of a rebranding exercise, to capitalise the Fijian brand.

“These are the sort of brands we need to capitalise to be able to know what that the customers that use your products, associate with that particular brand.

“By expanding the name to have coconut in it, means you can use it for a lot of products.”

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