SSFA Coco Syrup BP Draft 09.5.2016

PHILIPPINE RURAL DEVELOPMENT
PROJECT
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PROCESSING AND MARKETING OF COCO SYRUP
TABLE OF CONTENTS  Page
 LIST OF TABLES
 LIST OF FIGURES
 COVER PAGE
 SUMMARY OF INVESTMENT REQUIREMENT AND SOURCES
OF FUNDS
 FUND SOURCES AND ALLOTMENT
 EXECUTIVE SUMMARY
 Section I: DESCRIPTION OF BUSINESS ENTERPRISE
 A. Opportunities for the Enterprise and its Products
 B. Business Overview
 C. Product and Services
 Section II: MARKET ANALYSIS
 A. Market Characteristics
 B. Target Customer Profile
 C. Supply and Demand Analysis
 Section III: COMPETITORS’ ASSESSMENT
 A. Current Market Share
 B Relationship with Customer
 C. Price, Distribution, product and Service Feature
 D. Financial Strength
 E Length of Time in Business
 Section IV: MARKETING PLAN
 A. The Product
 B. Pricing Strategies
 C. Place of Product Distribution
 D. Promotion
 Section V: OPERATIONAL PLAN
 A. Ownership and Management
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 B. Resources and Production
 C. Facilities and Equipment
 D. Operation
 E. Compliance to Local and National Regulations
 Section VI: SOCIAL AND ENVIRONMENTAL SAFEGUARD
 A. Social Safeguard Aspect
 B. Environmental Safeguard Aspect
 C. Social and Environmental Impact
 Section VII: FINANCIAL PLAN
 A. Sources and Application of Funds
Investment Requirement by Component and by
 B.
Source
 C. Recording System
 D. Administrative Cost
 E. Financial Forecast
 F. Financial Analysis
 Section VIII: ANNEXES
 Section IX: ATTACHEMENTS AND SUPPORTING DOCUMENTS
LIST OF TABLES
No. Title Page

1 Top 5 Coconut Producing Countries
2 Coconut and Cocal Area in Sarangani and Gen. Santos City, 2015
3 Gen. Santos Coconut Statistics, 2015
4 2012 Coconut Statistic of Region XII
5 Staffing qualifications and responsibilities
6 Detailed Process flow with staff requirement
7 List of Facilities and Equipment
20 Environmental Issues and Mitigation Measures for warehouse and
Processing Center (ESMP)
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No. Title Page
21 PRDP ESSS Form for Sub Project
22 Employment That will be Generated by this Project
23 Comparative income of farmers with and without PRDP
25 Fund Sources and Allotment

26 Summary of Investment Requirement and Sources of Funds
27 10 years Projected Income Statement
28 10 year Projected of balance Sheet
29 Cash Flow Projection
30 Financial Analysis
31 Financial Analysis: Base Case
LIST OF FIGURES
No. Title Page

1 Philippine Coconut Industry
2 Philippine Coconut Production, 2010 to 2014
3 Export Earnings of Coconut Industry
4 Coconut Non-Traditional Export
5 Top 3 Producers of coconut
6 Distribution of Coconut Sap sugar in Export Market
7 Market share of Coco sugar per Region
8 Top 10 Countries with Coconut areas harvested
9 Association Organizational Structure based on DOLE Registration
10 Project Operational Structure
11 Production Process Flow
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Enterprise General Profile
Subproject Title PROCESSING AND MARKETING OF COCO SYRUP
Location Purok Pao-pao, Barangay Sinawal, General Santos City
SINAWAL SMALL FARMERS’ ASSOCIATION

Lead Proponent Group
Cluster Members None

Financial Modality
Based on the Amount Small Enterprise – Php 3,000,000.00-Php 15,000,000.00
of Subproject
Type of PG
Start-up
Undertaking
Nature of Expansion/
Upgrading (for SPs
Not Applicable
under the expansion/
upgrading Category)
Product/ Service Product
Existing:
Target:
Product Existing Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10
Volume of Production
Y0
Coco Syrup is produced and sold on a household and individual basis; not as an
association
Indicate name of buyer, volume to be sold (existing and/or target
volume) and arrangements
Frequen
Target Existing Target Vol Payment Marketing
cy of
Buyer Vol Sold Sold Terms Arrangements
Delivery
Target Market/s
Suchero 30 tons/mo Weekly Cash Yes
Free
Not 30 tons/mo weekly Cash Yes
Foods
applicable
Gees
Organics
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Detailed PG Equity
LP GOP LGU
Items Cash Kind
Enterprise
1,517,400.00 505,800.00 505,800.00 412,200.00
Total Investment Operation
Cost/ Amount of the Civil
Not applicable
Business Plan Works
Total
Investment 1,517,400.00 505,800.00 505,800.00 412,200.00
Cost
The Processing and Marketing of Coco Syrup Subproject is one of the
segments within the value chain for coco sugar. The coco syrup is an
intermediate product derived from coco sap. The coco syrup will
further be processed into coco sugar.
Link of VCA and CCIP
Coconut is the top priority commodity of the City of General Santos.
The processing and marketing of coco syrup is one of the alternative
business opportunities aside from copra making that our coconut
farmers can take advantage of.
The proposed subproject entitled ”Processing and Marketing of Coco
Syrup” will be undertaken by the Sinawal Small Farmers’ Association.
The members of the association will be tapping the sap of the coconut
Brief Description of trees and process it into coco syrup. The coco syrup produce will be
the Subproject consolidated and delivered to identified buyers on a weekly basis.
Identified buyers such as Suchero in Tupi, South Cotabato, Free Foods
in Davao City and Gees Organics in General Santos City are those that
are producing coco syrup and other syrup-based products.
General Objective:
The subproject aims to improve quality of life of the members’
coconut farmers who are engaged into coco syrup production,
Enterprise or
especially the Indigenous Peoples in the communities covered by the
Subproject Objectives
proposed project, by increasing their income from their coconut
farms.
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Specific Objectives:
1. At least five percent (5%) increase in annual real household
income of 84 beneficiaries, which consist of farmers, tappers
and cooks; thus, 250% increase in income of target
beneficiaries after 5 years;
2. Five percent (5%) increase in value of annual marketed
output after 5 years
At present , the members of the Sinawal Small Farmers’ Association
are producing coco syrup on a household or individual basis.
However, these are in small quantities. Hence, there is a need to
New Ways of Doing consolidate their produce, through which the the association will be
Things/ Innovations the one to market their product in bulk. This is to be able to generate
more volume of their product which could facilitate bargaining for
higher prices and at the same time be able for the members to forge
relationships with the buyers.
PG
Cluster Beneficiaries IP Non-IP Total
Member
Male Female Male Female
Economic Benefits
Individual 28 56 - - 84
Household - - -
No of Direct Individual
Non-PG
Beneficiaries (Specify Cluster
number per PG) Member
Individual
Household - - -
Total
Job Title Existing New Jobs Incremental Jobs
160 tappers in
On the 1-2 years
Tappers individual/hou and additional
sehold basis 160 tappers
onwards
On
Syrup
Job Generation individual/hou
Makers/Cooks
sehold basis
Driver - 1
Helper/Laborers - As necessary
General Manager - 1
Operations
- 1
Manager
Cashier 1
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Investment Cost per
Php 35,014.86
Beneficiary
Before
Particulars After PRDP
PRDP
Increase In Farmers Y0 Y1 Y2 Y3 Y4 Y5 Y6 Y7 Y8 Y9 Y10
Income
Incremental
Income
Financial Analysis Existing Net Income (Baseline): N/A
Projected Average Net Income: 453,287,058.11
Net Income of the
Enterprise:
FIRR: 560% Payback Period: 1.92 years
Financial Ratios:
ROI: 69.55 Benefit-Cost Ratio: 1.70
Break-even Analysis
(for each product): Volume: 7,342.68 Price: 7,096.83 Sales: 1,091,704.85
Indicate agencies that will provide technical support/ assistance,
nature of assistance, costs involved and arrangements
Nature of Technical
Agency Estimated Cost Source of Funding
Assistance
Department of Preparation of
Agriculture necessary
documents for
before, during and
after project
implementation
Monitoring and
evaluation
Technical Support
Phil. Coconut Production
Services
Authority (PCA) technologies
Department of Product Packaging
Trade and and labelling
Industry (DTI)
Department of Enhancement/impro
Science and vement of the
Technology processing
technologies
Local Government Selection process
of General Santos Preparation of
necessary
documents for
before, during and
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after project
implementation
Monitoring and
evaluation
Target Start Date: (target date for the first NOL2)

Duration of Project
Implementation
Target Completion Date: (target date of inspection and acceptance)
PROJECT COST
I-REAP
AMOUNT
A. GOODS
Loan Proceeds (WB) and Government of the

Philippines 2,023,200.00
LGU-General Santos City 505,800.00
Proponent Group 412,200.00
TOTAL
Php 2,941,200.00
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Total Project Cost
FUND SOURCES
Components / Line Items Total Cost Proponent Group
LP (Cash) GOP (Cash) CLGU (Cash)
Capacity Qty Unit Cost Cash In Kind
Working Capital
Harvesting to Processing
Labor cost/ha (Tapping/boiling/day) 40 1,555.00 62,200.00 62,200.00
Production facilities/equipment
Farm-Level Processing
Sickle 160 500.00 80,000.00 48,000.00 16,000.00 16,000.00
Sanggab (Plastic - 2L cap) 4 sanggab/puno 32,000.00 20.00 640,000.00 384,000.00 128,000.00 128,000.00
Plastic twine 160 250.00
Stainless washbasin (24L cap) 4/pugon 160 500.00 80,000.00 48,000.00 16,000.00 16,000.00
Pail/bucket (stainless) 24L cap 4/pugon 160 800.00 128,000.00 76,800.00 25,600.00 25,600.00
Strainer for syrup (stainless) 8 inch dia 4/pugon 160 200.00 32,000.00 19,200.00 6,400.00 6,400.00
Consolidation Area
Stainless washbasin (24L cap) 3 500.00 1,500.00 900.00 300.00 300.00
Pail/bucket (stainless) 24L cap 3 800.00 2,400.00 1,440.00 480.00 480.00
Strainer for syrup (stainless) 8 inch dia 3 200.00 600.00 360.00 120.00 120.00
Weighing scale (flat scale/bascula) 1 15,000.00 15,000.00 9,000.00 3,000.00 3,000.00
Wok/kawali (stainless) 3 6,000.00 18,000.00 10,800.00 3,600.00 3,600.00
LPG 4 6,000.00 24,000.00 14,400.00 4,800.00 4,800.00
Burner 3 1,500.00 4,500.00 2,700.00 900.00 900.00
Stainless ladle 3 500.00 1,500.00 900.00 300.00 300.00
Tray (stainless) 3 500.00 1,500.00 900.00 300.00 300.00
Transportation
Hauler Truck (6-wheeler)c/0 GSNaFPA 1 1,500,000.00 1,500,000.00 900,000.00 300,000.00 300,000.00
Infrastructure
Consolidation Center 1 350,000.00 350,000.00 350,000.00
Grand Total 2,941,200.00 1,517,400.00 505,800.00 505,800.00 412,200.00
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EXECUTIVE SUMMARY
Rationale
Coconut production is one of the main sources of livelihood of the people in the
countryside. There are 3.5 million coconut farmers all over the country and 25 million or
28% of Filipinos are directly or indirectly dependent on the industry.
The industry constitutes one of the four major sectors of Philippine agriculture,
aside from rice, corn and sugar. In fact, it is a dominant sector of the Philippine agriculture.
The country has the world’s widest geographical area planted to coconut. Specifically, of
the 12 million hectares of farmlands, 3.1M hectare is devoted to coconut and 68 out of 79
provinces are coconut areas.
In terms of production, about 85% is exported in the form of copra, coconut oil and
desiccated coconut. The industry is among the top 5 net foreign exchange earners, average
of US $760M per year. It has an annual average of 5.97% contribution to GVA and 1.14%
to GNP.
In the Regional level, SOCCSKSARGEN Region (Region XII) is among the top eight
coconut producing regions in the Philippines. It shares 6.3 % of the total land area planted
to coconut at 224,700 hectares with a growth rate of 2.3 % for the 5-year period, 2008-
2012. General Santos City is one of the coconut-producing cities of the region. Based from
the statistics of the Philippine Coconut Authority, the city has a total cocal area of 10,606
hectares which translates to 65,165,510 in terms of nut production. There are at least 2,574
farmers who are depending on coconut as their main source of livelihood.
Coconut has been tagged as the “tree of life”. The nut itself has numerous uses. One
of which is processing it into copra. Aside from copra, the nuts can also be processed into
other high value products. These include the following: coco flour, coco fiber, coco coir
dust or coco peat, activated carbon, coconut shell flour, ccoconut sap, coco syrup, coco
sugar, coco shell, coco water, desiccated coconut and virgin coconut oil (VCO).
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It can be noted that coconut oil and desiccated coconut are some of the biggest
exports of the Philippines among all the agricultural products. Also, non-traditional
coconut–based export products such as coco sugar, coco water, coco coir and others are
also gaining prominence in the international markets, hence, expected demand to rise in
the coming years.
The increasing domestic and export demand of non-traditional coconut-based

products such as coco sugar presents a promising business opportunity for the farmers and
the small to medium enterprises who are involved in the various segments along the value
chain of the coconut sap sugar industry. The increase in demand could be related to the
high prevalence of diabetics and the growing interest of health enthusiasts locally and
worldwide.
Based on the City Commodity Investment Plan (CCIP) of General Santos City,
coconut is the first priority commodity of the city given the number of hectares planted
(10,243.71 hectares as of 2015) and the number of farmers (2,574 farmers) who are
dependent on coconut production as their main source of livelihood. Also, considering the
fact that the dynamic business activities of the city provides a lot of opportunities for
farmers and other stakeholders to be involved in the business segments along the value
chain of coconut.
With the above opportunities, coconut farmers in the city can now have the option
not to sell nuts or copra but focus instead in harvesting coco sap, process it into coco syrup
which can further be processed into coco sugar and other syrup-based food products. This
emerging trend can provide farmers not only with daily income but also offer a more
profitable coconut venture.
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The Business Enterprise
The proposed business enterprise will be having two (2) major components: (1)
coco syrup processing and (2) marketing of coco syrup.
The general objective of the business enterprise is to improve quality of life of the
members’ coconut farmers who are engaged into coco syrup production, especially the
Indigenous Peoples in the communities covered by the proposed project, by increasing
their income from their coconut farms.
Specifically, this project aims to achieve the following:
3. At least ten percent (5%) increase in annual real household income of 84

beneficiaries, which consist of farmers, tappers and cooks; thus,% increase in
income of target beneficiaries after 5 years;
4. Five percent (5%) increase in value of annual marketed output after 5 years;
5. Optimize production of high quality coco syrup from the current 71 liters of coco
syrup per hectare to 85 liters per hectare after 3 years;
6. Provision of two (1) unit hauler truck to expedite trading/delivery of whole coco
syrup to buyers/processors;
7. To train 84 direct beneficiaries in the proper processing with consideration in the
proper Food Safety Standards after 2 years;
8. At least 1 marketing agreements signed between the PG and the institutional buyers
at year 2, and;
9. To establish and operationalize 1 SCF organization that will serve as consolidators
of good quality coco syrup.
There will be eighty four (84) direct beneficiaries which is consist of farmers,
tappers and syrup makers that will be covered by this project. In addition, there will be 34
women who will also benefit from the proposed enterprise.
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The business enterprise will be managed by the Proponent Group, Sinawal Small
Farmers’ Association and will be the consolidator of coco syrup while clusters of individual
farmers will be the ones who will process the fresh coco nut toddy into coco syrup.
The Products to be Produced
The product to be produced by the proposed business enterprise will be the Coco
Syrup.
Coco syrup is made from the coco sap which contains 80% water. The sap
undergoes a natural process of evaporation until it becomes a “toddy” or syrup-like
substance. One hundred percent (100%) of the farmers produce is marketed as coco
syrup.
Production of coco syrup has been the main source of income of the farmers in the
area. With additional utensils that will be provided by the proposed project, more volume
and improved quality of coco syrup produce is expected.
Marketing Strategies
The Sinawal Small Farmers’ Association shall establish partnership with the
institutional buyers, processors and exporters to strengthen and ensure stable market for
their product. Since members of the association were already engaged in the production of
coco syrup on an individual/household level, current marketing agreements had been done
individually. With this, a new marketing agreement will be crafted between the association
and their identified buyers which are Suchero located at Tupi, South Cotabato, Free foods
located at Toril, Davao City and Gees Organics located in General Santos City.
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Financial Analysis
The proposed project requires a capitalization of Php 2,941,200.00. The proposed

enterprise shows a positive cash flow. The Income Statement also shows positive net
return for the next 10 years of operation. As indicated above, net income is increasing on a
yearly basis as evidence by an increasing ROI. The proposed enterprise can generate an
average Net Income of Php 453,287,058.11. Average ROI is 70% and average BCR is 1.70.
This means that for every one peso investment, there is a net return of 0.74 centavos. This
indicates high degree of profitability of proposed enterprise.
The Balance Sheet shows an increasing assets and net worth. In fact, the proposed
project will not incur liabilities, hence, can be considered as liquid and solvent.
The result of an investment analysis shows an NPV of Php 190,446,638.15 and an

IRR of 560%. By concept, a business will be considered as profitable if the NPV is positive
and more than its investment cost. This is satisfied by the NPV value which Php
190,446,638.15 for the next 10 years of operation which is very much higher than the
investment cost of Php. 6,000,000.00. In addition, the IRR is 560%. As a rule, IRR value
should be greater than the interest rate/lending rate. The result shows higher profitability
since the IRR is 182% which is very much higher than the interest rate of 15%. Hence, the
proposed enterprise is very profitable.
In addition, the payback period is also used to gauge how long the investment will
be recovered. It is measured in the number of years. Based on the result, the proposed
enterprise will be able to recover the investment in 1.92 years. This is a good indication
since the investment can be recovered in a very short period of time. As a rule, investments
with shorter payback periods are more attractive to investors.
Break even analysis is the calculation of margin of safety the proposed project based
on the potential revenues and expected associated costs. This determines the level of sales
needed to cover the total fixed costs. Based on the results, the proposed project has an
average break-even volume of 7,342.68 kgs of coco sugar for the next 10 years of its
operations. On the other hand, the average break-even price is at Php7,096.83 for the next
10 years.
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Sensitivity analysis is a method used in determining the effect of a certain
dependent variable if there are changes in values of independent variables. In this
subproject, this tool is used to measure the effects on the Net Present Value, Internal Rate
of Return, Benefit-Cost Ratio and Return on Owner’s Investment if there will be increases
and decreases in both the revenues and costs associated with the processing and marketing
of coco syrup. Based on the results, the proposed subproject will still be earning profits
even if there are possible decreases in revenues and increases in costs for the next 10 years
of its operation.
I. DESCRIPTION OF THE BUSINESS ENTERPRISE
1. Opportunity for the Enterprise and its Products

The coconut tree or the ‘Tree of Life’ is one of the most versatile trees in the world
because of its many uses. It is also considered as one of the most important crops in the
country for its contribution in income of the farmers and for its foreign exchange earnings.
Coconut industry is one of the top industries in the world. In 2010, Brazil was the top
producer of coconut but as the year progresses the production of coconut products in Asia
has been patronized more for its quality.
According to the Food and Agriculture Organization of the United Nations (FAOStat),
Indonesia is the top producing country of coconut with 19,102,130 tons in 2014, followed
by the Philippines with 14,696,280 tons, India with 11,078,873 tons, Brazil with 2,919,110
tons and Sri Lanka with 2,181,000 tons. Production of India, Indonesia and the Philippines
contributes about 89% of the total world production of coconut products.
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Table 1: Top 5 Coconut Producing Countries
Coconut Production 2014

Country % of World Total
(metric tons)
1 Indonesia 19,102,130 mt 35.80%
2 Philippines 14,696,280 mt 30.00%
3 India 11,078,873 mt 23.30%
4 Brazil 2,890,286 mt 5.66%
5 Sri Lanka 2,513,000 mt 4.90%
Traditional coconut production of the Philippines is the main export product of

coconut. These are copra meal and coconut oil which contributes about 1.5% of GNP. It
employs, directly or indirectly, some 20 million people (about one-third of the population)
and earns more than US$510 Million annually.
The Philippines is one of the world's largest producers of coconut products.

According to the latest data from the Philippine Coconut Authority, about twenty-six
percent (26%) of cultivated land were planted with coconut trees and it is estimated that
between twenty-five percent (25%) and thirty-three percent (33%) of the population was
at least partly dependent on coconuts for their livelihood or about three million five
hundred thousand (3.5 Million) Filipino Farmers with twenty five million (25 Million)
Filipinos who are directly and indirectly employed by the sector. Figure 1 below reflects
the Philippine Coconut Industry Performance in 2010-2014.
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Figure 1: Philippine Coconut Industry Performance (2010-2014)
Figure 2: Philippine Coconut Production 2010 to 2014
Coconut Production (2010-2014)

18
16 15.54 15.207 15.238 15.354 15.207
14.696
14
12
Copra (Million MT)
10
8
Nut Equivalent (Billion)
6
4
3.03 2.55 2.51 2.76 2.6084
2 2.192
0
2010 2011 2012 2013 2014 Average
In the year 2010 to 2014, the Philippine coconut production has been somewhat
stable but it is noticeable that production for the 2014 was the lowest as shown in Figure 2
above. This was because of the typhoons that struck the country and the pest that
damaged the vast coconut areas especially in Luzon and Visayas.
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Even with the challenges that the Philippine coconut industry is experiencing, the
production of coconut in Region XII were still stable since the provinces in the region does
not severely affected by this phenomenon. In 2012, Region XII has a total cocal area of
224,700 hectares where the city contributes about 9,014.50 hectares or 4.01%.
In 2015, General Santos City cocal area has increase from 9,014.5 hectares to
10,243.71 hectares. It has a total coconut trees of 1,024,371 where 729,174 trees are
productive, 188,650 are considered senile and 106, 547 trees are still in vegetative stage. It
has an assumption annual production of 65,165,510 nuts or is equivalent to 14,481.22 tons
of copra.
As mentioned above, coconut has been tagged as the “tree of life”. The different
parts of coconuts have various uses and benefits. The coco nuts itself has numerous uses.
One of which is processing it into copra. Aside from copra, the nuts can also be processed
into other high value products. These include the following: coco flour, coco fiber, coco
coir dust or coco peat, activated carbon, coconut shell flour, coconut sap, coco syrup, coco
sugar, coco shell, coco water, desiccated coconut and virgin coconut oil (VCO). These non-
traditional coconut–based export products are also gaining prominence in the international
markets, hence, expected demand to rise in the coming years (see Figure 4)
Figure 3: Non-traditional Exports
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In the regional level, SOCCSKSARGEN Region (Region XII) is among the top eight
coconut producing regions in the Philippines. It shares 6.3 % of the total land area planted
to coconut at 224,700 hectares with a growth rate of 2.3 % for the 5-year period, 2008-
2012. According to the latest data from the Philippine Coconut Authority, General Santos
City has a total cocal area of 10, 243.71 hectares or 19.10% of the total land area of the city.
Even though General Santos City is considered as a highly urbanized city still produced
around 14, 460.24 Metric tons of copra based on the 2015 data of the Philippine Coconut
Authority.
Out of twenty-six (26) barangays in the city, twenty (20) barangays are engaged in
coconut productions which are mostly agricultural barangays. The city still has a potential
area of 2,503 hectares for coconut production. The top 3 barangays who have the largest
cocal areas are Barangay Conel with 2,638.60 hectares; followed by Brgy. Tinagacan with
1,411.41 hectares, and Brgy. Sinawal with 1,252.78 hectares. Since the urban barangays do
not have a compact area, coconuts are planted in the backyard of individual households
which are spread throughout the urban barangays. Table 3 shows the City’s coconut
statistics as of 2015.
Table 3: Coconut and Cocal Areas in Sarangani and General Santos City, 2015.
No. of Trees
Municipality/ Total Land Total Cocal
Non- Total
City Area (ha) Area (ha) Bearing Senile
Bearing
Sar-Gen Total 455,184.90 111,733.22 6,402,297 3,105,139 1,665,885 11,173,321
Alabel 51,098.27 8,916.66 385,847 93,351 412,468 891,666
Glan 69,760.00 36,166.54 1,759,559 1,746,724 110,370 3,616,653
Kaimba 41,828.00 11,177.33 481,044 322,876 313,813 1,117,733
Maasim 54,338.00 12,168.50 687,940 302,699 226,211 1,216,850
Maitum 32,435.00 6,920.04 307,466 272,828 111,710 692,004
Malapatan 62,456.00 18,043.33 1,571,569 167,000 65,764 1,804,333
Malungon 89,663.63 8,097.11 479,698 11,011 319,002 809,711
Gen. Santos City 53,606.00 10,243.71 729,174 188,650 106,547 1,024,371
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Table 4 : GSC Coconut Statistics 2015
No. of Trees Total Production
Land Cocal Potential
Copra
Barangay Area Area Non- No. of Areas
Bearing Senile Total (MT)/
(Has) (Has) Bearing Nuts/ Year (Has)
Year
Apopong 1,976.93 36.07 3,000 - 607 3,607 213,000 47.33 92.00
Baluan 1,163.54 351.20 24,096 10,327 697 35,120 2,444,069 543.13 54.00
Batomelong 1,261.75 569.82 32,284 21,523 3,175 56,982 3,820,322 848.96 59.00
Buayan 528.44 24.19 1,719 700 - 2,419 171,749 38.17 25.00
Bula 323.18 7.50 170 100 480 750 19,170 4.26 15.00
Calumpang 989.92 - - - - - - - -
City Heights 492.63 11.89 689 - 500 1,189 48,919 10.87 23.00
Conel 5,640.81 2,638.60 198,395 50,000 15,465 263,860 17,636,056 3,919.12 264.00
Dad. East 71.48 - - - - - - -
Dad. North 91.89 - - - - - - -
Dad. South 80.60 - - - - - - -
Dad. West 80.46 - - - - - - -
Fatima 1,842.59 - - - - - - -
Katangawan 1,976.35 1,001.59 67,756 30,000 2,403 100,159 6,940,676 1,524.37 92.00
Labangal 1,504.62 42.34 1,034 1,700 1,500 4,234 194,114 43.14 70.00
Lagao 1,413.36 223.41 16,925 5,000 416 22,341 1,556,682 345.93 66.00
Ligaya 637.71 359.33 26,729 8,000 1,204 35,933 2,465,759 547.95 30.00
Mabuhay 4,046.03 165.02 10,328 800 5,374 16,502 790,088 175.58 189.00
Olympog 1,764.25 709.29 46,837 12,000 12,092 70,929 4,177,436 928.32 82.00
San Isidro 1,444.60 96.17 7,393 2,000 224 9,617 666,875 148.19 67.00
San Jose 6,701.25 845.93 46,704 2,500 35,389 84,593 3,493,463 776.33 313.00
Siguil/Bawing 2,408.55 123.55 8,055 4,000 300 12,355 855,900 190.20 113.00
Sinawal 6,339.20 1,252.78 110,440 1,000 13,838 125,278 7,912,266 1,758.28 296.00
Tambler 6,009.09 105.89 6,580 2,000 2,009 10,589 609,206 135.38 281.00
Tinagacan 2,288.77 1,411.41 100,266 36,000 4,875 141,141 9,674,902 2,149.98 107.00
Upper Labay 2,528.00 267.73 19,773 1,000 6,000 26,773 1,474,859 327.75 118.00
In General Santos City, coco nuts are utilized in so many ways. Some of these nuts
are harvested as buko which is being supplied in the Public Market and other food
establishments in the city. Other farmers prefer not to harvest the nuts, instead, coconut
trees are utilized for coco toddy or coco sap production. However, the bulk of the produce
are processed into conventional copra. In addition, a lot of farmers are already aware
about the new trends in the market for coco nuts, that is, selling these nuts as whole nuts
which are further processed into several products such as coconut oil, desiccated coconut,
coco sap, and so many others.
21 | P a g e
The vast coconut production areas in the city call for the formulation of
interventions that would address and support various stakeholders at the different
segments of the value chain of coconut. Hence, the city is proposing for the engagement of a
qualified proponent group to engage in the processing and marketing of coco syrup.
Processing and Marketing of Coco Syrup
Members of the Sinawal Small Farmers’ Association have been engaged in the
processing and marketing of coco syrup on individual/household level in the past 3-5 years
already. They have seen this opportunity as an alternative livelihood to copra production.
As a proponent group, they would like to elevate their production operation to a higher
level. They are proposing to undertake the processing operation as a group to generate
more volume in order to capture a bigger market share.
The utilization of coconut trees for coco sap production to be processed into coco
syrup, which is further processed into coco sugar is an alternative livelihood for coconut
growers in the city. Consolidation of coco syrup of the Association will provide
opportunities for these farmers to market their product in bulk which could command
higher prices and other price incentives/premiums of their product due to the elimination
of middlemen in the marketing channel. In addition, it will facilitate farmers’ participation
from the production, processing, and marketing segments of the value chain.
The proposed enterprise will disposed its products in the local market as seen below:
a. Suchero
Suchero has been one of the trusted buyers of some member of the association.
Its processing plant is located at Brgy. Palian, Tupi, South Cotabato. According to
Suchero the capacity of their plant is 30 tons per month or they process one thousand
(1,000) kilos of coco sugar per day. They also have acquired some of their coconut
farmers with Organic Certification issued by a third party certifying body.
22 | P a g e
b. Free Foods
Free Foods is also one of the buyers of the members of the association. Their
plant is located at Toril, Davao City. Currently, we have no record of the plant’s capacity
to produced coco sugar, however, the members who are allocate their coco syrup
produce to Free Foods has a weekly target volume of 1,000 kilos per week. Since the
plant is located in Davao, the company picks-up the coco syrup from General Santos to
Davao.
c. GEES Organics
GEES Organics is owned by Ms. Elvira Silva, former staff of PCA who taught the
members of the association and the community in the barangay to produce and process
coco sugar. The company is located at Prk. Pao-pao, Brgy. Sinawal where the association
is also located. The plant can process up to 25, 000 kilos of coco sugar monthly. Some of
the members of the association or their family also work in the plant as syrup makers,
tappers, packers or cleaners.
d. Local buyers
Since not all of the coco syrup produced by the members is sold to its identified
buyers, members also sold this to local buyers. Others who know to process coco syrup
into coco sugar cooked their produce and sold this to buyers such as people who visit
the area.
Individual members have already existing contracts with the above buyers.
There is just a need to craft another contract to be forged between the association itself
and these companies.
There are also some producers of coco syrup such as Donnabelle Coconut Sugar
and Syrup located in Bansalan, Davao del Sur. The company is owned by Lao Integrated
Farms, Inc. which exports their products to the United States, Australia and some part
of Europe. Aroman Women’s Natural Food Producers Multipurpose Cooperative,
located at Aroman, Carmem, North Cotabato are also producing coco sugar and other
coconut products.
23 | P a g e
Lao Integrated Farms, Inc., has an existing contract with some of the farmers
near Bansalan. This is to make sure that their current market demand especially their
export market demand will be met. On the other hand, it is unknown if the company
and Aroman Women’s Natural Food Producers Multipurpose Cooperative are sourcing
out their coco syrup on other areas aside from the coco syrup producers or farmers
near their area.
2. Business Overview
The Sinawal Small Farmers’ Association is newly-organized and registered as a

formal association. However, the members have long been grouped/organized informally
in the Barangay. Also, the members have long been engaged in the production of coco sap
and processing of coco syrup on an individual/household basis. In fact, the members have
existing contracts with the buyers of coco syrup in Barangay Sinawal of this city, Tupi in
South Cotabato and in Davao City.
The present funding opportunity has provided an avenue to the association to level
up its operation by engaging the business not as an individual but as a group. This is to
expand more production areas to be covered by the proposed project which in a way,
benefit more coconut farmers and other stakeholders in the industry such as the tappers,
syrup makers and other people in the community.
a. Processing of Coco Syrup

The Sinawal Small Farmers’ Association is into processing of coco syrup since 2012.
Members of the association and other people of the community were trained by the
Philippine Coconut Authority staff on how the to process coco syrup and also how to
further process it into coco sugar. In fact, Ms. Elvira Silva, owner of GESS Organics, was one
of the PCA staff that trained the community in processing coco syrup and coco sugar to
provide them as an alternative source of livelihood. This through the PCA program KAANIB
or the Kasaganahan Sa Niyugan ay Kaunlaran ng Bayan which aims to promote coconut-
based farming system as a lucrative agribusiness venture which the community became
beneficiaries.
24 | P a g e
Initially, the coco nut tree blossoms are tapped with the use of sickle, for the
collection of its sap which resembles the practice of tapping maple trees for maple syrup.
Plastic containers or containers that are made of hallow bamboo tubes are used to collect
the sap. The freshly gathered sap is oyster white in color and has a nearly neutral pH.
Collection of fresh coco sap is done four times a day regularly. This is to make sure
that the sap collected has not been fermented for it will lessen the quality of the coco syrup
and coco sugar to be produced. Usually, the harvest time is every four to six hours.
Harvesting will start at 4am, then 9 am, third harvest will be 2 in the afternoon and 6 or 7
in the evening.
There are two methods on processing the toddy into coco syrup or into sugar. The
most popular process is the traditional method or the open pan evaporation. Basically the
concept of this process is to slowly dehydrate or evaporate the water content in the fresh
coconut sap to concentrate it so it will become syrup through the traditional open pan
evaporation. This is the process that the SSFA are using in processing their syrup.
The second method is the modern method or the Vacuum evaporation. In this
method the coconut sap undergoes low heat around 40 ̊C to 42 ̊C in a vacuum evaporator
which produces raw coconut syrup. The fresh coconut sap is placed in bottles during this
process. This method is usually done by large corporations or companies that are
financially capable in purchasing expensive equipment for their operations.
After every harvest, it will be cooked immediately in a low fire for about thirty
minutes. Every now and then, the coco sap will be stir with a ladle. Bubbles formed will be
sieve for this will cause contamination of the product. The end product of this process will
be the coco syrup. Free foods, one of the buyers of the association of coco syrup, built a
cooking area for some of the members of the association who supplies coco syrup for them.
The cooked coco syrup will be placed in a stainless container for cooling. After coco
syrup has cooled, it will be transferred to a food grade container for storage and is ready
for delivery to the association’s clients.
25 | P a g e
b. Marketing of Coco Syrup
Marketing for coco syrup is not a problem since demand for the product is relatively
high. That being said, the produce of the individual members of the association actually
cannot supply the demand of its market.
With this, the members of the association will enroll a total of forty (40) hectares of
coconut trees for the production of the coco syrup for this proposed project. There will be
no problem in the marketing agreement since individual members already have marketing
agreements with the buyers.
The produce coco syrup from the forty hectares will be divided depending on the
demand of the buyers. Currently, the individual members have three (3) buyers which are
located at Tupi, South Cotabato, General Santos City and Toril, Davao City.
Processing of coco syrup will be done by the farmers and they will deliver it to the
warehouse of the association. To make sure that the coco syrup is of good quality, cooking
of coco sugar will be done for sampling purposes. The hauler truck to be purchased will be
used for the delivery of product considering that the association is located on the upland
barangay of the City. Delivery and pick-up of products will be done regularly depending on
the schedule of the buyers.
Below is the schematic diagram in the processing and marketing of coco syrup:
Figure 4: Process Flow of Coco Syrup Production
Collection of coco sap from the tree – every 6 hours

(tappers)
Cooking of coco sap into coco syrup – 110 degree

Celsius at lower fire (tappers)
Delivery of coco syrup to the association

(tappers/owners)
Consolidation of coco syrup (Association)
Consolidated coco syrup will be delivered to the

target customers (Association)
26 | P a g e
As of the moment the association has an existing forty (40) hectares planted with
productive coconut trees which they used as their source of coconut sap which they
processed into coco syrup or coco sugar. Fortunately, individual members of the
association also have a total of another forty (40) hectares planted with coconut which the
members agreed to include as potential expansion area and will be productive in the next
three (3) years of enterprise operation.
A coconut tree can produce as low as 47 liters of coco sap and as high as 100 liters
per day. Assuming a hectare of coconut can produce 224 liters of sap per day it is expected
that in a year it can produce 13,626.67 liters of coco syrup which is equivalent to 11,923.33
kilograms of coco sugar. Based on the current buying price coco sugar which is Php. 85.00
per kilogram, a hectare can generate up to Php. 1,013,483.33 gross income.
With favorable weather condition and based on the association’s production of

coconut sap, it is expected that from year one to year three of the enterprise operation, 5%
of the beneficiaries’ income will increase. On year four, since it is expected that the 40
hectares expansion area will be productive, it will have a 25% increase in farmer’s income.
For year five to year seven, 5% increase in income will be expected, this is because the
newly productive coconut is still not producing much compared to the much older coconut
trees. For year eight to year ten, 10% increase in income will be expected. As the coconut
trees got older the production of coconut sap also increases, hence, increase in income is
probable.
It is also likely that job generation will increase especially on year four of the
enterprise operation due to the production of the additional 40 hectares as mentioned
earlier. Basically, in a hectare there are four (4) tappers assigned in the area. Most of the
time, the tappers are the ones who also do the cooking or the processing of the coco sap
into coco syrup by open pan evaporation cooking. Sometime the tapper’s wife will do the
cooking of the coconut sap into syrup while their husband rests. With that being said, the
enterprise will need to double its number of workers when the potential area will start to
produce.
27 | P a g e
According to Asian Journal (SF January 30, 2015 SF Magazine pg.2), as the demand for
alternative source of low glycemic index food products increases due to high incidence of
diabetes especially abroad and also in the local scene, it is also expected that demands for
coconut sugar based products will also increase and since coco syrup is the main raw
ingredients of these products, it is projected that demand for this will also rise.
3. Products and Services

The product to be produced by the proposed business enterprise will be the
Coco Syrup.
Coco syrup is made from the coco sap which contains 80% water. The sap
undergoes a natural process of evaporation until it becomes a “toddy” or syrup-like
substance. One hundred percentage (100%) of the farmers produce is marketed as
coco syrup.
The main product produced by coco syrup is coco sugar. Based on the test
done by the Food and Nutrition Research Institute and Department of Science and
Technology of the Philippines in 2007 revealed that coco sugar has low glycemic
index (GI) of 35 and coco syrup with 39 compared to that of cane sugar’s GI of 50.
The GI is a ranking system for carbohydrates based on the immediate effect on
blood glucose levels. Low GI food is good for proper of diabetes mellitus, reducing
bad cholesterol, and for weight maintenance. Comparative chemical analysis shown
in the table below also revealed that coco sugar contains higher amounts of
nutrients such as nitrogen, phosphorous, potassium, magnesium, chloride, zinc and
iron compared to brown cane sugar. To top the export market however, there is a
need to secure organic certification for the products.
Figure: 5 Comparative Analysis of Coco sugar and Brown Sugar
28 | P a g e
The major component of coconut sugar is sucrose (70-79%) followed by
glucose and fructose (3-9%) each. Minor variations will occur, due to differences in
primary processing, raw material source, tree age and variety of coconut.
Coconut palm nectar has a nutritional content far richer than all other
commercially available sweeteners. It is especially high in Potassium, Magnesium,
Zinc and Iron (similar to coconut water) and is a natural source of the vitamins B1,
B2, B3, B6 and C. It’s also very rich in other minerals and enzymes which aid in the
slow absorption into the bloodstream.
Glycemic Index takes into account the quality of the carbohydrate in a food
and ignores its quantity. A glycemic index value therefore tells us only how rapidly
a particular carbohydrate turns into sugar. It doesn’t tell how much of that
carbohydrate is in a serving of a particular food. Both the things are important to
understand a food’s effect on blood sugar. While Glycemic load is used to consider
the quality and the quantity of carbohydrate content of the foods.
Foods that have a low glycemic index invariably have a low glycemic load,
while foods with an intermediate or high glycemic index range from very low to
very high glycemic load. Therefore, you can reduce the glycemic load of your diet by
limiting foods that have both a high glycemic index and a high carbohydrate content.
Basically glycemic index is considered low if it is equal to or lesser than 55. While it
is considered moderate or medium if its GI is equal to 56 up to 69. But if the GI is
equal to 70 or more it is considered as high.
Production of coco syrup has been the main source of income of the farmers in
the area. With additional utensils that will be provided by the proposed project,
more volume and improved quality of coco syrup produce is expected.
29 | P a g e
II. MARKET ANALYSIS
1. Market Characteristics
The Philippines is one of the world's largest producers of coconut products. About
twenty-five percent (25%) of cultivated land were planted with coconut trees and it is
estimated that between twenty-five percent (25%) and thirty-three percent (33%) of the
population was at least partly dependent on coconuts for their livelihood.
General Santos City accounts for 4.43 % of the Region’s coconut production. Table 1
reflects the 2012 coconut statistics of Region XII in which General Santos City has coconut
area of 9,042.23 hectares. The bearing trees of 794,811 toiled by 1,086 farmers produce an
annual nut production of 56,431,568 translated into 14,107.89 metric tons in copra terms.
Table 2 presents the PCA data for the Total Land Area and Cocal Area of Sarangani Province
and General Santos City for 2013 of which 9,530.32 ha. of coconut area comes from General
Santos City with 850,234 bearing trees.
Table 4: 2012 Coconut Statistics of Region XII

Total Total Total No. of Total Total No. of Trees Average Number of Coconut House- Ave. Total Annual Production
Province/
District No. of No. of No. of Coco Land Area Cocal Area Non- Nut/tree Hold Farm
Bearing Total Farms Farmers No. of Nuts Copra(MT)
Mun. City Brgy. Brgy. (Ha.) (Ha.) Bearing per Year Size Size
REGION XII 45 4 1,158 851 2,101,640.00 224,700.00 17,855,072 5,136,464 22,991,536 70 73,475 105,599 6 2.5 1,274,837,593 318,152.00
North Cotabato 17 1 544 348 656,590.00 48,574.01 3,835,531 1,021,870 4,857,401 63 18,435 27,964 6 2.7 264,225,572 66,056.00
I 9 - 267 174 300,370.00 26,809.08 2,061,004 619,904 2,680,908 61 10,015 13,386 6 2.8 134,511,697 33,628.00
II 8 1 277 174 356,220.00 21,764.93 1,774,527 401,966 2,176,493 64 8,420 14,578 6 2.6 129,713,875 32,428.00
Sarangani & GSC 7 1 166 155 450,877.90 96,739.99 8,107,745 1,582,843 9,690,588 72 18,649 42,025 6 4.0 562,598,415 144,855.00
Sarangani 7 - 140 137 397,271.90 87,697.76 7,312,934 1,473,431 8,786,365 72 17,436 40,939 7 3.0 506,166,847 130,746.68
GSC - 1 26 18 53,606.00 9,042.23 794,811 109,412 904,223 71 1,213 1,086 2 5.0 56,431,568 14,107.89
Sultan Kudarat 11 1 249 164 621,449.95 40,937.40 3,532,274 1,593,922 5,126,196 78 19,684 19,684 6 1.75 290,965,154 72,741.29
I 5 1 109 63 233,102.22 8,266.53 412,967 370,988 783,955 76 6,098 6,098 6 1.5 31,824,489 7,956.12
II 6 - 140 101 388,347.73 32,670.87 3,119,307 1,222,934 4,342,241 79 13,586 13,586 6 2.0 259,140,665 64,785.17
South Cotabato 10 1 199 184 372,722.00 38,448.51 2,379,522 937,829 3,317,361 66 16,707 15,926 5 2.0 157,048,452 34,499.66
I 3 - 52 46 81,515.00 13,750.12 939,713 258,827 1,198,540 68 4,637 4,652 5 3.0 63,600,484 14,133.44
II 7 1 147 138 291,207.00 24,698.39 1,439,809 679,002 2,118,811 63 12,070 11,274 5 1.0 90,707,967 20,157.33
Basic Assumption
Conversion factor on copra production = 4 nuts is equal to 1 kl. Copra
Total nut production per year = avarage nut/tree/year x total bearing trees
30 | P a g e
Trends and outlook
In terms of Global production the top three producers of coco nuts from 2010 to
2014 are Indonesia with an average of 18,460,426.00 tons, Philippines with 15,333,351.60
tons and India with 10,937,774.60 tons. The coconut industry is the highest net foreign
exchange earner of agricultural exports in the Philippines, accounting for about 1.5%
of GNP. It employs, directly or indirectly, some 20 million people (about one-third of the
population) and earns more than US$510m annually.
Figure 6 : Top 3 Producers of Coconuts (Tons)
Top 3 Producers of Coconut (Tons)

25,000,000.00

20,000,000.00

15,000,000.00 India
 Indonesia
10,000,000.00
 Philippines
5,000,000.00

-
2010 2011 2012 2013 2014
Based on the data presented during the Philippine Coconut Authority Roadmap of
2012 at Davao City, the leading coconut sap sugar exporter nations are the Philippines with
52% or equal to 220 metric tons, Indonesia with 24%, Thailand, United States of America,
Australia and Singapore. Figure ___ shows the distribution of coconut sap sugar in the
export market.
Coconut shares 21% of our total annual export earnings being our premier
agricultural dollar-earning export industry. Coco sugar, the processed product of coco
syrup is considered as one of the product that has potential as product winner terms of
export earnings. In 2012 the country’s export for coco sap sugar has a global export share
of 52% which is about 220 metric tons followed by Indonesia with 24 %.
31 | P a g e
Export market for coco sap sugar are usually supplied in the United States, Canada,
Norway, France, Australia, New Zealand, South Korea and Japan to name a few. About 80%
of the country’s coconut produced while the remaining 20% is locally consumed.
Figure 7: Distribution of Coconut Sap sugar in the export market.
USA Australia Singapore

5% 3% 3%
Thailand
13%
Philippines
52%
Indonesia
24%
Among the top 6 producers of coco sap sugar in the world Philippines have fourteen
(14) manufacturers, five (5) traders and one (1) distributor. Indonesia has four (4)
manufacturers and five (5) traders, while Thailand has five (5) manufacturers. On the other
hand, Australia and Singapore have both one (1) distributor, while the United States has
two (2) distributors.
According to the Philippine Coconut Authority, the Philippines have a total of 3.502
Million hectares of land planted with coconut in 2013 which is equivalent to 26% of the
total agricultural land. Out of the 81 provinces, 68 of these are coconut areas with 1,195
coconut municipalities.
Approximately, the country has about 330 million bearing coconut trees which
produces an average of 15.207 billion nuts annually. The average production of nuts per
tree in the country annually is about 44 nuts.
According to statistics, 48% of the total area planted with coconut is in Mindanao
which is equivalent to 1,595,120 hectares. Nuts produced of the said area in Mindanao are
about 56% of the country’s total production or about 8.1 Million Tons annually.
32 | P a g e
With the increasing domestic and export demand, the coconut sap sugar industry
presents a promising business opportunity for the farmers and the small to medium
enterprises. The increase in demand could be related to the high prevalence of diabetics
and the growing interest of health enthusiasts locally and worldwide. In 2012, about eighty
six percent (86%) of coco sugar producers in the Philippines come from Mindanao.
Northern Mindanao contributes 32% of the total national production or is accounted as the
highest production share of 108 metric tons followed by SOCCSKASARGEN and Davao
Region. Figure 7 shows the market share of Philippine regions that produces coconut sap
sugar.
Figure 8: Market share of Philippine regions that produces coconut sap sugar.
Coconut Sap Sugar Producers in the Country per Region

Region VI Region IX
Bicol 3% 3%
Region IV A
5%
3%
Region IV B
3% Region XII
21%
Davao Region
Region X 19%
32%
CARAGA
11%
2. Target Customer Profile

Philippines is among the top producers of coconut in the world. In fact,
according to the data generated by the Food and Agriculture Organization of the
United Nations Statistics, that in 2012 the Philippines ranked number one in terms
of land area with 3,573,806 hectares followed by Indonesia with 3 million and India
with 2.1 million. Figure 10 shows the top 10 countries in the world with coconut
harvested area from 2011 to 2013.
33 | P a g e
Figure 9. Top 10 countries with coconut areas harvested.
However, in terms of production, Indonesia is the top coconut producing country

with 18M metric tons while the Philippines only ranks second with 15,862,386 million
metric tons. India is the third largest coconut producer with 10,560,000 million metric
tons.
Coconut shares 21% of our total annual export earnings being our premier
agricultural dollar-earning export industry. Coco sugar, the processed product of coco
syrup is considered as one of the product that has potential as product winner terms of
export earnings. In 2012 the country’s export for coco sap sugar has a global export share
of 52% which is about 220 metric tons followed by Indonesia with 24 %.
Export market for coco sap sugar are usually supplied in the United States, Canada,
Norway, France, Australia, New Zealand, South Korea and Japan to name a few. About 80%
of the country’s coconut produced while the remaining 20% is locally consumed.
The proposed enterprise will disposed its products in the local market as seen
below:
a. Suchero
Suchero is owned by the Churner Group. The company started in 2005 when
three of the major stocksholders’ paths crossed while they were involved in
the production of their own brands of Virgin Coconut Oil. They decided to put
their resources, expertise and strengths together, and with their passion to
34 | P a g e
provide healthier alternatives for the Filipinos, and the world, led to the birth
of an all natural low GI sweetener.
Suchero was established in May 2008, when the Churner Group
started to be involved in the production, packaging, distribution, marketing
and sales of coco sugar. Suchero’s principal office is at Richville Corporate
Tower located at Madrigal Business Park, Muntinlupa City.
The company also put consideration on the Research, Development
and Quality Control. The company is very meticulous from the selection of
coconut trees until the final packaging of the product to make sure that they
could deliver 100% all natural sweetener that will meet the highest
international standards.
Suchero has been one of the trusted buyers of some member of the
association. Their plant is located at Brgy. Palian, Tupi, South Cotabato. The
company buys the raw coco syrup from its supplier and the payment for it
will be based depending on the recovery rate of coco sugar for coco syrup.
According to the representative of Suchero, the capacity of their plant
is thirty (30) tons per month or they process one thousand (1,000) kilos of
coco sugar per day. They also have acquired some of their coconut farmers
with Organic Certification issued by a third party certifying body.
Portion of the Suchero’s produce are being sold to the international
market, but currently we do not have data on the exact volume of products
sold locally and exported.
b. Free Foods
Free Foods is also one of the buyers of the members of the association. Their
plant is located at Toril, Davao City. Currently, we have no record of the
plant’s capacity to produced coco sugar, however , the members who are
allocate their coco syrup produce to Free Foods has a weekly target volume
of 1,000 kilos per week. Since the plant is located in Davao, the company
picks-up the coco syrup from General Santos to Davao.
35 | P a g e
c. GEES Organics
GEES Organics is owned by Ms. Elvira Silva, former head of Philippine
Coconut Authority. Ms. Silva along with some of her staff was the ones who
taught the members of the association and the community in the barangay to
produced and process coco sugar. The company is located at Prk. Pao-pao
Brgy. Sinawal where the association is also located. The plant can process up
to 25, 000 kilos of coco sugar monthly. Some of the members of the
association or their family also work in the plant as syrup makers, tappers,
packers or cleaners.
d. Local buyers
Since not all of the coco syrup produced by the members is sold to its
identified buyers, members also sold this to local buyers. Others who know
to process coco syrup into coco sugar cooked their produced and sold this to
buyers such as people who visit the area.
3. Supply and Demand Analysis

Currently, members of the association are delivering their produce to their
individual buyers but members have already enrolled forty (40) hectares coconut for the
proposed enterprise. Based on their currently production, an average of 83 liters of coco
syrup can be produced in one (1) hectare of coconut which could produce an average of 20
kilos coco sugar. If the association will be managing the 40 hectares coconut land, it is
assumed that 3,345.2 liters of coco syrup or 800 kilos of coco sugar will be produced daily.
Presently, Suchero and Free foods each have a target volume form the individual
members is 1,000 liters of coco sugar per week. While GEES Organics, does not have a
target volume demand for the association. However, during one of the consultation
meeting, representative from Suchero mentioned that they are willing to accept or buy
more volume of coco syrup since they are not only producing coco sugar but also some
other products which uses coco syrup as the raw material such as coco honey and coco jam
to mention a few.
36 | P a g e
III. COMPETITOR ASSESSMENT
1. Current Market Share

Base on the current volume demand of the Suchero to association, its monthly
market share is thirty three percent (33%). However, the association has no data as to the
actual market share based on the total demand of coco syrup of Free Foods as well as the
total market share of GEES Organics.
It is known for the fact that Region XII is the second producer of coco sugar in the
country. With this, alternative market will not be a problem since export and local demand
for coco sugar are increasing. Also, GEES Organics has a plant capacity of twenty five tons
(25T) per month. The company is currently constructing another plant for expansion. This
will serve as alternative market since the members of the association has no existing
contract with the said company.
Table 5. Competitors’ market share
Competitors Buying % Share of market Relationship with Average volume

Price (PhP) customers procured per month
Individual P 85.00/ No data Direct No data

Farmers kilo of coco
sugar
2. Relationship with Customers

Forging a marketing agreement or contract is important in the proposed enterprise
to ensure market of the product. As of the moment the association itself is on the process of
forging marketing agreements with its buyers, however, its individual members has
existing marketing agreements to Suchero and Free Foods as well as Gees Organics. Based
on the initial talk with the buyers, they are more than willing to forge a marketing contract
to the association to ensure supply of coco syrup.
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Table 6. List of Buyers of Coco Syrup
SSFA List of Buyers of Coco Syrup
Behaviors Suchero GEES Organics Free Foods
Geographical Market Export & Local Export & Local Export & Local
Geographical Location Tupi, So. Cot Sinawal, GSC Toril, DVO
Channel Direct Direct Direct
Payment COD COD COD
Quality requirement Sampling Sampling Sampling
Purchase behavior P85.00 base on price P85.00 base on price P85.00 base on price
Operation Delivered Delivered Pick-up (if land is

company rented)
3. Price, Distribution, Product/Service Features
Buying price for coco syrup is based on the recovery rate of coco sugar. Usually four
(4) liters of coco syrup produces one (1) kilo of coco sugar. The current market price is
₱85.00 per kilo of coco sugar but as the volume of coco sugar increases (per thousand) the
price per kilogram also increases by ₱5.00. The association is paid by the buyers
immediately upon delivery.
The coco syrup allocated for Suchero is delivered weekly as well as for GEES
Organics. Truck requested by the association will be used for this purpose. Free Foods on
the other hand, picked-up the produce on a weekly basis.
4. Financial Strength/Cost Position
Locally, there is no known organized group who are producing coco syrup in the
city other than the Sinawal Small Farmers’ Association. The members of the association
have their individual marketing agreements with Suchero and Free Foods especially the
38 | P a g e
members who have bigger production. Those farmer-members who have smaller
production delivered their produced to GEES Organics which is operating in the locality.
The existing market of the association is accepting coco syrup from various
sources within Region 11 and Region 12. But according to one of the representative of
Suchero, they prefer the coco syrup produced by the Sinawal Small Farmers’
Association because of the quality coco sap sugar it produces.
Since the members of Sinawal Small Farmers’ Association have been in the
business of producing coco syrup in the past 3-5 years already, it is assumed that
already knew the ins and outs of the business specifically the financial aspect. It is also
assumed that they have enough capital to finance the farm and processing activities.
5. Length of Time in Business
As individual farmers, the members started coco syrup production 3-5 years ago,
but they are registered as an association on the first quarter of 2016. The members of the
association play a vital part in the production of coco syrup for members are composed of
tappers, syrup makers, farmers and land owners.
With their experience, it is assumed that already knew the ins and outs of the
business.
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IV. MARKETING PLAN
1. Product
Coco syrup is the product form derived from cooking the fresh coco toddy in a low
fire or by simply removing its moisture content, this process is called the traditional
method or the open pan evaporation. It must be noted that once the coco toddy is collected,
it has to be processed as soon as possible to avoid fermentation. The evaporating process
itself needs to be precisely controlled to avoid caramel formation.
Compared with the common cane sugar, the production process of coconut syrup is
more minimally processed. Also, coco syrup processing is free from bleaching agent and
preservatives. The liquid is so thick that almost no microorganisms could be live there.
Many coconut by-products are produced using coco syrup as its main ingredient such as
coco sugar, coco honey, coco jam and many more.
There are at least two reasons why coco syrup or coco sugar is a good replacement
to common sugar. First, it low glycemix index and its nutrient content. The glycemic index
is a numerical value to represent how fast a certain carbohydrates turns into sugar.
Based on the study by Dr. Trinidad P. Trinadad, Scientist II of the Department of

Science and Technology, coco syrup has a glycemic index of 39 which is considered low.
Although coco syrup has a low glycemic index, once processed into coco sugar its glycemic
index could still be lower up to 35.
Coco syrup is also very nutritious for it contains vitamin B complex, vitamin C,
amino acids as well as minerals. Compared to some sweeteners coco syrup has much
nutrients compared to other sweeteners making it more nutritious.
According to a study conducted by the University of Sydney in Australia showed that

consuming low glycemic index food will help us avoiding chronic diseases, such as type-2-
diabetes. Coco Syrup/Sugar is also good for people with obesity. Besides its health benefits
coco syrup/sugar has a delicious unique caramel taste that can enhance the flavour of
drinks or foods.
40 | P a g e
Table 7. Nutritional comparison of popular sweeteners.
Macro-nutrients (mg Coconut Agave Honey Maple Brown Refined,

/ 100gm) Palm Syrup Syrup Sugar White
Sugar Sugar
Nitrogen (N) 202 NA NA NA 10 0
Phosphorus (P) 79 7 4 2 3 0
Potassium (K) 1,030 1 52 234 65 2.5
Calcium (Ca) 8 1.5 6 67 24 6
Magnesium (Mg) 29 1 2 14 7 1
Sodium (Na) 45 1 4 9 2 1
Chloride (Cl) 470 NA NA NA 16 10
Sulfur (S) 26 NA NA NA 13 2
Boron (B) 0.6 NA NA NA 0
Zinc (Zn) 2 0.2 0.2 4.2 .2 0.1
Manganese (Mn) 0.1 0.1 0.1 3.3 .2 0
Iron (Fe) 2 1 0.4 1.2 1.26 0.1
Copper (Cu) 0.23 0.1 0 0.1 0 0
Thiamine 0.41 0 0 0 0 0
Vitamin C 23.4 0.5 0.5 0 0 0
Provision of additional utensils and materials needed for the production of coco
syrup will surely help the association since representative from Suchero already said that
they prefer the coco syrup produced by the association for its quality. To ensure quality of
produced, sample cooking of coco sugar will be done to every stock delivered.
Technicians and representatives from the buyers also visit the coconut farms of the
members to monitor and the area. This will also ensure the buyers that the coconut trees
are of good health and can produce premium quality coco sugar.
2. Pricing strategies
Buying price of the product is based on the current prevailing price which P85.00
per kilo of coco sugar produced from the coco syrup delivered by the supplier. But as the
volume of delivery increases the price of the product also increase by P5.00 per 1000 kilos
of coco sugar produced. Buyers pay their supplier on a cash-to-cash basis immediately
upon delivery.
41 | P a g e
As mentioned above, price for coco syrup increases as the volume supply also
increases, this will be the pricing strategy of the association. With forty hectares (40)
coconut farm, the association projected to produce eight hundred kilos (800) of coco sugar
daily which surpasses their current supply to the market as individual producers. Bigger
volume of production as a result of their consolidation strategy will enable the Association
to be in a better position to negotiate for higher prices with the buyers. And since coco
syrup is the raw materials of many products which are sold locally and some are exported,
demand for it will eventually increase in the years to come. Hence, it is expected that prices
will also follow an upward trend.
3. Place /Channel of Distribution
Portion of the coco syrup produced will be delivered to Suchero in Tupi, South
Cotabato weekly or every Tuesday. While the coco syrup produced for the Free foods in
Toril, Davao City is being picked-up by the company weekly. Since there is no fixed target
volume of coco syrup for GEES Organics, produced allocated for them will also be delivered.
One (1) unit delivery truck will be procured to facilitate hauling and delivery of the
coco syrup to the identified buyers.
4. Promotion
The association has no special promotion for their product, but they have developed
good relationship with their buyers. They also make sure that their product is of good
quality and are delivered on time. As evidence of a good supplier-buyer relationship,
buyers have secured certificates for the coconut farms to be certified “organic” issued by a
third party certifying body. Organic certification is a form of promotion of the product the
Association is producing.
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V. OPERATIONAL PLAN
1. Ownership & Management
Ownership
The business enterprise will be owned and managed by the Sinawal Small Farmers’
Association, which is the lead proponent of the enterprise. The SSFA has 84 members
which include farmers, tappers and laborers. They have a total land area of eighty (80)
hectares devoted to coco syrup production where forty (40) hectares 50% are
productive. The remaining forty (40) hectares are allocated for the expansion which is
due to produce coco sap within the next 2 to 5 years.
The SSFA was only registered as an association last February 2016. However, its
members have already been engaged into coco sugar processing since 2012. Individual
members of the association have been marketing their products to their individual
identified buyers. But since individual member cannot ask for assistance to institutions
that could help them develop further their product such as the Department of
Agriculture, they have decided to form an association.
Management
The association will be the one to manage the enterprise, however, due to some
qualification requirement the association will hire additional staff such as bookkeeper
and auditor to ensure proper recording of accounts. A core group will also be created to
solely oversee the operation of the enterprise. Below is the Organizational Structure of
the Association.
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Figure 10 : Association Organizational Structure
President PRDP, CLGU,

Grievance Point Other
Person Stakeholders
Secretary Vice President
Auditor Treasurer
PIO Bookkeeper
Monitoring / Audit & Membership/

Education
Evaluation Inventory Credit Screening
Committee
Committee Committee Committee
Operation Manager
The business operation will be led by the Operation Manager. He/she will be the
one to oversee the whole operation. He/she will directly report the status of the operation
to the President. Directly under him/her is the Operation In-charge who will directly
supervise the various activities from coco sap harvesting to syrup processing, consolidation
and eventually marketing.
There will be at least 4 tappers per hectare of coconut who will be in-charged in
tapping more or less 25 trees on a daily basis. Tapping is done 24 hours a day on a 4-6
hours interval. The syrup makers/cooks will follow the same interval since they have to
44 | P a g e
immediately cook the sap after harvest to preserve its quality. The farmers will be one in-
charge in the maintenance of their own farms.
In the consolidation aspect of the operation, 2 laborers will be in-charged in the
various activities involved in the process of consolidating the syrup produced by the
farmers. Such activities include hauling and trucking. Below is the Operational Structure of
the proposed business enterprise.
Figure 11: Project Operational Structure
Stakeholders: PRDP, CLGU, PCA, Operation Manager

DTI, DENR, DA, NGOs and other
Steering Committee –
Cluster Representative
Admin & Finance
Dept.
CAO Technician
1 Bookkeeper Cashier Auditor
Operation’s In-
charge
Production of Coco Consolidation of Trading/Marketing

syrup Coco syrup
160 2 Hauling Laborers 2 Hauling Labors

Tappers/Cooks/
farmers
1 Truck Drivers
Staffing qualifications and responsibilities

Qualifications, responsibilities and functions of each personnel will be defined
clearly. They shall be trained and capacitated on their assigned tasks and functions in the
whole process, from production activities down to the processing as well as the operation.
45 | P a g e
Table 8: Staffing qualification and responsibilities
Position Qualifications Responsibilities/ Functions
Oversee the whole business.

Must have an experience on
Responsible in the internal
1. General Manager the supervision and
and external linkages to
(1) administration of the
strengthen the business of the
enterprise’s general operation.
association.
Must have an experience on Will manage all the business

2. Operations Manager
the operations of the lines and operations of the
(1)
enterprise enterprise
Keep, maintain, update and

preserve all books of accounts,
subsidiary ledgers documents,
Must be knowledgeable in
vouchers, contracts and other
accounting and bookkeeping
records concerning the
3. Bookkeeper (1) at least (2) years’ experience
business of the association
in association or related
and make them available for
business
auditing purposes to the
chairman of the Audit
Committee
Responsible for the daily cash

Must be knowledgeable in receipts and disbursements.
accounting and bookkeeping Ensure that all cash
and must have at least two transactions are properly
4. Cashier (1)
years’ experience in documented according to the
association or related associations policy, system
business. and procedure on recording
business transactions
5. Auditor (1)
Will be responsible for the

Has at least 1 year experience hauling of the products (2 will
6. Utility/ Laborers (4)
in association business be assigned in the marketing
and 2 in the warehouse )
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Responsible for the hauling
Must be an experience truck
7. Driver (1) and delivery of the coco syrup
driver for at least 10 years
to the identified market.
2. Resources and Production
Currently the association has a total of 80 hectares cocal area where 40 hectares are
productive which is devoted to coco syrup production. Forty (40) land owner members of
the association have manifested their intention to enroll 1 hectare each of their cocal area
to the projects. The remaining 40 hectares is allocated as an expansion area for it will be
due to be productive with 2-5 years.
The land owner/ farmer/ tappers will be in-charge of the tapping and collection of sap,
cooking of sap into coco syrup. The association will be the one who will consolidate and
market the produce coco syrup to the identified markets. Figure 10 shows the production
process flow, while figure 11 shows the detailed process flow with the responsible staff.
Figure 12: Production process flow
Collection of coco sap from the tree – every 6 hours

(tappers)
Cooking of coco sap into coco syrup – 110 degree Celsius

at lower fire (tappers)
Delivery of coco syrup to the association

(tappers/owners)
Consolidation of coco syrup (Association)
Consolidated coco syrup will be delivered to the target

customers (Association)
47 | P a g e
Table 9 : Detailed Process Flow with staff responsible
Input Responsible
Process step Description Location Output
Requirement Staff
Tappers will
collect the sap
from the Farm/
1. Collection Coco
coconut trees coconut Coco sap Tappers
of sap sap/toddy
every 6 hours (4 area
harvest time a
day)
Tappers will
immediately
cooked the
2. Cooking of
harvested sap at Cooking Coco
collected sap Coco sap Tappers/ cooks
110 degrees area syrup
into syrup
Celsius in low
fire for 30
minutes
3. Delivery of
coco syrup to Tappers/owners
Association
the will deliver the Coco Tappers/owners
receiving Coco syrup
association coco syrup to syrup (farmers)
area
as the association
consolidator
The association
4. will consolidate Association
Coco
Consolidation all the coco receiving Coco syrup Association
syrup
of coco syrup syrup produce area
by their member
48 | P a g e
The Coco
consolidated sugar
coco syrup will (price
then be will
5. Delivery of
delivered to the Association depend
consolidated
identified to the on the
coco syrup to Coco syrup Association
markets identified recovery
the identified
depending on buyers of coco
market
the volume and syrup
frequency into
requirement of coco
the buyers sugar)
3. Facilities and Equipment

Like any other enterprises, the association needs tools that will help them in
producing coco syrup. Table 7 is the list of materials needed by the association. Sickle is
used in tapping the coconut blossom so we could harvest the coco toddy. Sanggab is the
container used to collect the toddy. Sanggab is usually made of plastic while the traditional
sanggab is made from bamboo. Packing tape and plastic twine is used to secure the sanggab
in place.
Wok and ladle will be used in cooking the toddy into coco syrup. While the stainless
basin and bucket will be used as temporary containers when the coco syrup is still in the
cooling process. Stainless strainers are will be used to remove the bubbles formed during
cooking. Cooked and cooled coco syrup will be placed in a food grade plastic container.
Other materials like tables and weigh scale will be place in the warehouse. The truck
will be used to deliver the coco syrup to the identified buyers. As mentioned previously, to
ensure quality, sample cooking of coco sugar will done, hence, LPG, burners, trays, dryer
and strainers are also needed in the operation of the enterprise.
Members have traditional cooking area located in the coconut areas. The association
has a temporary warehouse where they will store their produced.
49 | P a g e
Table 10: Facilities and Equipment needed for the Operation
Facilities and Equipment Quantity

Sickle 160
Sanggab 24000
Packing tape 1920
Plastic twine 160
Stainless wash basin 160
Pail/bucket (stainless) 160
Strainer for syrup (stainless) 160
Container (24 liters capacity) 960
Cooking/boiling area 20
6 wheeler Elf 1
Bongo Truck 1
Warehouse/office 1
Weighing scale 2
Office Tables with chairs 4
LPG 3
Burner 3
Wok/kawali (stainless) 3
Strainer (large) 1
Stainless ladle 6
Tray (stainless) 10
Dryer for sample cooking 1
4. Operations
The over-all operations of the enterprise will be managed by the association. The
land owners and farmers will be in-charge of their individual land. Tappers will be assigned
in tapping the coconuts. Cooks and also some of the tappers will be the one who will cook
the collected coco toddy into coco syrup.
Cooked coco syrup will be delivered by the members to the warehouse where it will
be consolidated and stored. The association will then deliver the coco syrup to the buyers
as scheduled. Figure 11 shows the simple illustration of the production to marketing
operations of the proposed enterprise.
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Figure 13: Production to Marketing Operations
Land Owner/ Farmer
Coconut trees
Tappers/Farmer
Coco sap
Tappers/ cooks
Coco syrup
Tappers/ Land Owner/Farmer
Delivery of coco syrup to the consolidator (association)
Association
Consolidation of coco syrup Delivery of coco syrup to the buyers
5. Compliance to local and national regulations

Since the association was only registered on the February 13, 2016, documents
needed for its operations such as business permits, BIR Registration and other licenses are
still on process.
VI. FINANCIAL PLAN
1. Sources and Application of Funds
The proposed project will be funded through the Philippine Rural Development
Program (PRDP) of the Department of Agriculture. Necessary counterpart for the project
will also be provided by both the LGU of General Santos City and the Proponent Group
identified to the beneficiary/ies of the proposed enterprise which is the Sinawal Small
Farmers’ Association (SSFA) located in Barangay Sinawal, General Santos City.
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Table 11: Fund Sources and Allotment
FUND SOURCES AND ALLOTMENT

COMPONENT and ALLOTMENT AMOUNT, Php
I-REAP (Enterprise Development)
(60%) Loan Proceeds (WB) 1,517,400.00
(20%) Government of the Philippines (DA) 505,800.00
(20%) City Government of General Santos 505,800.00
(At least 20%) Proponent Group (SSFA) 412,200.00
Sub-Total (I-REAP) 2,941,200.00
Total Project Cost 2,941,200.00
2. Investment Requirement by Component and By Fund Source

FUND SOURCES
Components / Line Items Total Cost Proponent Group
LP (Cash) GOP (Cash) CLGU (Cash)
Capacity Qty Unit Cost Cash In Kind
Working Capital
Harvesting to Processing
Labor cost/ha (Tapping/boiling/day) 40 1,555.00 62,200.00 62,200.00
Production facilities/equipment
Farm-Level Processing
Sickle 160 500.00 80,000.00 48,000.00 16,000.00 16,000.00
Sanggab (Plastic - 2L cap) 4 sanggab/puno 32,000.00 20.00 640,000.00 384,000.00 128,000.00 128,000.00
Plastic twine 160 250.00
Stainless washbasin (24L cap) 4/pugon 160 500.00 80,000.00 48,000.00 16,000.00 16,000.00
Pail/bucket (stainless) 24L cap 4/pugon 160 800.00 128,000.00 76,800.00 25,600.00 25,600.00
Strainer for syrup (stainless) 8 inch dia 4/pugon 160 200.00 32,000.00 19,200.00 6,400.00 6,400.00
Consolidation Area
Stainless washbasin (24L cap) 3 500.00 1,500.00 900.00 300.00 300.00
Pail/bucket (stainless) 24L cap 3 800.00 2,400.00 1,440.00 480.00 480.00
Strainer for syrup (stainless) 8 inch dia 3 200.00 600.00 360.00 120.00 120.00
Weighing scale (flat scale/bascula) 1 15,000.00 15,000.00 9,000.00 3,000.00 3,000.00
Wok/kawali (stainless) 3 6,000.00 18,000.00 10,800.00 3,600.00 3,600.00
LPG 4 6,000.00 24,000.00 14,400.00 4,800.00 4,800.00
Burner 3 1,500.00 4,500.00 2,700.00 900.00 900.00
Stainless ladle 3 500.00 1,500.00 900.00 300.00 300.00
Tray (stainless) 3 500.00 1,500.00 900.00 300.00 300.00
Transportation
Hauler Truck (6-wheeler)c/0 GSNaFPA 1 1,500,000.00 1,500,000.00 900,000.00 300,000.00 300,000.00
Infrastructure
Consolidation Center 1 350,000.00 350,000.00 350,000.00
Grand Total 2,941,200.00 1,517,400.00 505,800.00 505,800.00 412,200.00
3. Recording System
Record-keeping is a requisite for a successful business operation. The records kept

the organization/company are usually the basis for monitoring and evaluation as to the
operation of a business undertaking.
Financial recording system will be based on the Generally Accepted Accounting

Principle. The cooperative will follow the Standard Chart of Accounts for cooperatives
52 | P a g e
which was recommended by the Cooperative Development Authority. The cooperative will
be required to maintain a separate set of Books of Accounts and necessary Subsidiary
Ledgers for this particular business enterprise. The cooperative will hire its own full-time
bookkeeper to ensure the prompt and reliable recording of financial transactions.
A monthly Financial Statements shall be prepared for the consumption of the

Management, Officers, and Partners/Stakeholders as well as members. Set of Policies
Systems and Procedures on Accounting, Bookkeeping, Financial Recording, Cashiering,
Internal Control will be installed.
3. Financial Forecasts/Projections
Financial Assumptions:
1 The Proponent Group will be engaged in the processing of coco sap into coco syrup
The PG has an existing area of production of 40 hectares; after three years, an additional
2 40 hecatres will be tapped
The PG will market their product to the three buyers, namely: Suchero in Tupi, South
3 Cotabato, Free Foods in Davao City and Gees Organics in General Santos City
The existing volume of demand of both Suchero and Free Foods is 1000 kilograms of coco
sugar per day. These volumes will increase since the two companies are also producing
4 other food-based products from coco syrup
5 Raw materials: 6 liters of coco sap is equal to 1 liter of coco syrup
6 Daily operation (production) with 4 harvest-time a day
7 Manpower Requirement
a. 160 tappers for harvesting and cooking/boiling of sap into coco syrup
b. Receiving area = 1 bookkeeper, 2 laborer(hauling), 1 cashier/treasurer, 1 supervisor, 1
janitor
c. Trucking = 1 driver, 2 laborer (hauling)
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1.1. 10-Year Projected Cash Flow Statement
Consolidated Projected Cash Flow

Sinawal Small Farmers' Association
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Beginning Cash Balance
Cash Flow from Investing Activities:

Loan Proceeds 1,517,400.00
GOP 505,800.00
LGU 505,800.00
Net Cash Flow From Investing Activities
2,941,200.00
Cash Inflows
Income from Sales 40,539,333.33 43,843,289.00 47,416,517.05 102,561,926.39 110,920,723.39 119,960,762.34 129,737,564.47 146,992,660.55 166,542,684.40 188,692,861.43
Accounts Receivable
Total Cash Inflows 2,941,200.00 40,539,333.33 43,843,289.00 47,416,517.05 102,561,926.39 110,920,723.39 119,960,762.34 129,737,564.47 146,992,660.55 166,542,684.40 188,692,861.43
Cash Outflows
Investing Activities
New Fixed As s ets Purchas es 2,159,000.00 324,450.00 340,672.50
Cos t of Sales 23,619,555.56 25,515,933.33 27,565,435.10 59,560,937.84 64,348,901.08 69,523,770.67 75,116,913.83 85,027,114.81 96,247,337.66 108,951,011.81
Admin and Selling Expenses
Admin and Selling Expens es 774,090.00 788,506.20 803,354.89 818,649.03 834,402.00 850,627.56 867,339.89 884,553.59 902,283.69 920,545.71
Total Cas h Outflows 2,159,000.00 24,393,645.56 26,304,439.53 28,368,789.99 60,704,036.87 65,183,303.08 70,374,398.23 75,984,253.72 86,252,340.89 97,149,621.35 109,871,557.51
Financing Activities
Loan Payments
Dividends Paid 11,301,981.44 12,277,194.63 13,333,408.95 29,527,637.66 32,016,194.21 34,710,454.88 37,627,317.53 42,756,694.51 48,575,144.13 55,174,912.74
Total Cash Outflows 2,159,000.00 35,695,627.00 38,581,634.16 41,702,198.93 90,231,674.53 97,199,497.30 105,084,853.11 113,611,571.25 129,009,035.40 145,724,765.49 165,046,470.25
The 10-Year Projected Cash Flow Statement shows a yearly positive cash flow. This means that revenues/sales that
will be generated by the business operation are more than enough to sustain the project. This also shows that the proposed
project can help the cooperative to settle all financial obligations and the cash available can still be used for expansion and
other income-generating ventures. It is further proposed that after three years and five years, the project is able to replace
equipment which has been fully depreciated as of its end of useful life with equal amounts.
54 | P a g e
ENTERPRISE ON PROCESSING AND MARKETING OF COCO SYRUP
1.2. 10-Year Projected Income Statement
The Income Statement is the summary of all the incomes generated and expenses incurred by a certain business endeavor over
a given period of time. It reflects whether the business is profitable or not. The above 10-year Projected Income Statement shows
positive net return for the next 10 years of operation. As indicated above, net income is increasing on a yearly basis as evidence by an
increasing ROI.
The proposed enterprise can generate an average Net Income of Php 453,287,058.11. Average ROI is 70% and average BCR is
1.70. This means that for every one peso investment, there is a net return of 0.70 centavos. This indicates high degree of profitability
of proposed enterprise.
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4.3. 10-Year Projected Balance Sheet
Consolidated Projected Balance Sheet

Sinawal Small Farmers' Association
Pre-operation Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Assets
Current Assets
Cash 782,200.00 4,843,706.33 5,261,654.84 5,714,318.12 12,330,251.85 13,721,226.09 14,875,909.23 16,125,993.23 17,983,625.15 20,817,918.91 23,646,391.17
Other Current 402,700.00 5,913,906.33 11,175,561.17 17,198,879.29 29,529,131.15 43,250,357.24 58,126,266.47 74,576,709.70 92,560,334.85 113,378,253.76
Total Current Assets 782,200.00 5,246,406.33 11,175,561.17 16,889,879.29 29,529,131.15 43,250,357.24 58,126,266.47 74,252,259.70 92,560,334.85 113,378,253.76 137,024,644.93
Non-current Assets(delete if not

applicab le, use non-current
assets instead)
Real Estate-Land 350,000.00 350,000.00 350,000.00 350,000.00 350,000.00 350,000.00 350,000.00 350,000.00 350,000.00 350,000.00 350,000.00
Vehicles 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00 1,500,000.00
Other Fixed Assets 309,000.00 309,000.00 309,000.00 309,000.00 324,450.00 324,450.00 324,450.00 324,450.00 340,672.50 340,672.50 340,672.50
Total Fixed Assets 2,159,000.00 2,159,000.00 2,159,000.00 2,159,000.00 2,174,450.00 2,174,450.00 2,174,450.00 2,174,450.00 2,190,672.50 2,190,672.50 2,190,672.50
Less: Accumulated Depreciation 288,000.00 288,000.00 288,000.00 288,000.00 288,000.00 288,000.00 288,000.00 288,000.00 288,000.00 288,000.00
1,871,000.00 1,871,000.00 1,871,000.00 1,886,450.00 1,886,450.00 1,886,450.00 1,886,450.00 1,902,672.50 1,902,672.50 1,902,672.50
Total Assets 2,941,200.00 7,784,906.33 13,046,561.17 18,760,879.29 31,415,581.15 45,136,807.24 60,012,716.47 76,138,709.70 94,463,007.35 115,280,926.26 138,927,317.43
Liabilities and Owner's Equity

Liabilities (delete if not applicab le) 0 0 0 0 0 0 0 0 0 0
Total Liabilities
Owner's Equity
Beg. Balance 2,941,200.00 7,784,906.33 13,046,561.17 18,760,879.29 31,415,581.15 45,136,807.24 60,012,716.47 76,138,709.70 94,463,007.35 115,280,926.26
less: Dividends 11,301,981.44 12,277,194.63 13,333,408.95 29,527,637.66 32,016,194.21 34,710,454.88 37,627,317.53 42,756,694.51 48,575,144.13 55,174,912.74
Add: Net Income 16,145,687.78 17,538,849.47 19,047,727.07 42,182,339.51 45,737,420.30 49,586,364.11 53,753,310.76 61,080,992.16 69,393,063.05 78,821,303.91
Initial Investment
Loan Proceeds 1,517,400.00
GOP 505,800.00
LGU 505,800.00
End. Ba l a nce
Total Owner's Equity 2,941,200.00 7,784,906.33 13,046,561.17 18,760,879.29 31,415,581.15 45,136,807.24 60,012,716.47 76,138,709.70 94,463,007.35 115,280,926.26 138,927,317.43
Total Liabilities and Owner's Equity 2,941,200.00 7,784,906.33 13,046,561.17 18,760,879.29 31,415,581.15 45,136,807.24 60,012,716.47 76,138,709.70 94,463,007.35 115,280,926.26 138,927,317.43
56 | P a g e
The Balance Sheet shows the financial position of the proposed business endeavor
the value of the assets generated and the corresponding liabilities incurred by the
organization . To ascertain the financial position of the proposed enterprise, several
financial indicators are used. The most common indicators are the networh, liquidity and
solvency.
The Networth is the difference between the assets and liabilities of the proposed
project. A positive networth indicates that assets are higher than liabilities. On the other
hand, Liquidity is the ratio of current assets over current liabilities with an ideal ratio of 2.0
and above. Liquidity shows the capacity of the business to settle short-term financial
obligations as they fall due. On the other hand, solvency can be computed using the debt-
asset ratio and debt to networth ratio. For a business to be considered solvent, it should
have an ideal ratio of less than 1. Solvency spells out the capacity of the business to have a
long-term financial sustainability and can withstand financial setbacks.
Since the proposed enterprise does not have any liabilities, it can therefore, be
considered as liquid and solvent at the same time.
5.1. Financial Analysis
An investment analysis is done to determine the profitability of a certain business

enterprise considering the time value of money. A certain rate of interest is being factored
in the formula which is based on the current lending rate in the financial system. It is done
to enable the investor to decide whether or not to invest in a certain business. At present,
the lending rate is 15% based on the WorldBank.
One method used is the Net Present Value (NPV). The NPV shows the present
values of the proposed business enterprise’s future stream of incomes. Another method is
the Internal Rate of Return (IRR). The IRR is the actual rate of return of the proposed
business undertaking,
The result of an investment analysis shows an NPV of Php 190,446,638.15 and an

IRR of 560%. By concept, a business will be considered as profitable if the NPV is positive
and more than its investment cost. This is satisfied by the NPV value which Php
190,446,638.15 for the next 10 years of operation which is very much higher than the
57 | P a g e
investment cost of Php2,941,200.00. In addition, the IRR is 560%. As a rule, IRR value
should be greater than the interest rate/lending rate. The result shows higher profitability
since the IRR is 560% which is very much higher than the interest rate of 15%. Hence, the
proposed enterprise is very profitable.
In addition, the payback period is also used to gauge how long the investment will
be recovered. It is measured in the number of years. Based on the result, the proposed
enterprise will be able to recover the investment in 1.92 years. This is a good indication
since the investment can be recovered in a very short period of time. As a rule, investments
with shorter payback periods are more attractive to investors.
Years Net income Cummulative Total

1 16,145,687.78
2 17,538,849.47 33684537.24
3 19,047,727.07 52732264.31
4 42,182,339.51 94914603.82
5 45,737,420.30 140652024.1
6 49,586,364.11 190238388.2
7 53,753,310.76 243991699
8 61,080,992.16 305072691.2
9 69,393,063.05 374465754.2
10 78,821,303.91 453287058.1
Payback period = number of years when cummulative total net income is equal to total capital investment
Y1 Year Number before you break-even / number of years before you reach break
X1 Cummulative total at year before you breakeven
X2 net income at break-even year
Payback period Y1+(((total capital-X1)/(X2))

1.924793239 1.924793239
58 | P a g e
5.2. Break-Even Analysis
Coco Syrup Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Annual Fixed Cost 293,550.00 293,550.00 293,550.00 293,550.00 293,550.00 293,550.00 293,550.00 293,550.00 293,550.00 293,550.00
Selling Price 85.00 87.55 90.18 92.88 95.67 98.54 101.49 104.54 107.68 110.91
Unit Variable Cost 50.53 51.94 53.39 54.41 55.97 57.57 59.21 60.89 62.62 64.41
Total Variable Cost 24,100,095.56 26,010,889.53 28,075,239.99 60,086,036.87 64,889,753.08 70,080,848.23 75,690,703.72 85,618,118.39 96,856,071.35 109,578,007.51
Production Volume 476,933.33 500,780.00 525,819.00 1,104,219.90 1,159,430.90 1,217,402.44 1,278,272.56 1,406,099.82 1,546,709.80 1,701,380.78
Contribution Margin Per Unit 34.47 35.61 36.78 38.47 39.70 40.97 42.28 43.65 45.05 46.50
Contribution Margin Ratio 40.55 40.67 40.79 41.41 41.50 41.58 41.66 41.75 41.84 41.93
Break-Even Units (in kgs) 8,516.44 8,243.64 7,980.56 7,631.24 7,393.96 7,164.58 6,942.81 6,725.27 6,515.41 6,312.85
Break-even Price (Php) 7,238.97 7,217.31 7,196.59 7,088.03 7,073.67 7,059.85 7,046.56 7,030.55 7,015.49 7,001.31
Average break-even Units 7,342.68

Average break-even price 7,096.83
Break even analysis is the calculation of margin of safety the proposed project based on the potential revenues and
expected associated costs. This determines the level of sales needed to cover the total fixed costs. Based on the results, the
proposed project has an average break-even volume of 7,342.68 kgs of coco sugar for the next 10 years of its operations. On
the other hand, the average break-even price is at Php7,096.83 for the next 10 years.
59 | P a g e
5.3. Sensitivity Analysis
Sensitivity Analysis Base Case Revenue -5% Revenue -10% Revenue -15% Cost +5% Cost +10% Cost +15% Revenue -5% and Revenue -10% and
(10 Years) Cost +5% Cost +10%
FNPV 184,564,238.15 161,762,270.82 138,960,303.48 116,158,336.15 171,137,542.73 157,710,847.30 144,284,151.87 148,335,575.39 112,106,912.63
FIRR 5.60 4.92 4.24 3.56 5.19 4.78 4.37 4.51 3.42
BCR 1.68 1.60 1.51 1.43 1.60 1.53 1.46 1.52 1.38
ROI 15.41 13.55 11.68 9.82 14.32 13.22 12.13 12.45 9.49
Sensitivity analysis is a method used in determining the effect of a certain dependent variable if there are changes in
values of independent variables. In this subproject, this tool is used to measure the effects on the Net Present Value, Internal
Rate of Return, Benefit-Cost Ratio and Return on Owner’s Investment if there will be increases and decreases in both the
revenues and costs associated with the processing and marketing of coco syrup. Based on the results, the proposed subproject
will still be earning profits even if there are possible decreases in revenues and increases in costs for the next 10 years of its
operation.
60 | P a g e
VII. SOCIAL AND ENVIRONMENTAL SAFEGUARDS
The existing coco syrup business enterprise has been managed by the association
since 2012. For four years up to this period, the association has gained good reputation to
their buyers. Production and marketing activities of coco syrup is basically on a manual
labor basis. But then the process is not that complex. Once the tapper harvested the
coconut sap or toddy it should be immediately processed by boiling for half an hour in a
large cast iron pan to fervent the sap from fermentation.
Tapping a coconut tree for its sap is a centuries old tradition that does not harm the
tree’s ability to produce coconuts. Production of coconut syrup is also known as coconut
nectar. Coconut trees have proven to be the most productive and have the longest life span,
whilst impacting the least negative short and long term effects on the environment and the
well-being of the community within the area.
A. Social Safeguards Aspect
1. Subproject Beneficiaries
The beneficiaries of the proponent group were 100% member of the Indigenous
people. All of them were B’laans composed of 19 male and 70 female.
2. Socio-Economic Status
General Santos City was formerly called as Buayan District and became a
municipality of South Cotabato by virtue of Republic Act No. 82 in January 1948. Its history
begun on February 27, 1939 when the first Christian settlers led by General Paulino Santos
landed on the shores of Sarangani Bay together with 62 first batchers. Economic growth in
the area has been apparent with the establishment of the basic institutions and
infrastructures and the construction of roads and establishment of multi-million companies
such as Standard Fruits Company (Stanfilco) and Coca Cola Bottling Company and the first
establishment of the first radio station in 1964.
61 | P a g e
The City has a total land area of 53,606 hectares. Barangay Sinawal constitutes the
biggest land area at about 68.76 sq. km with a population density of:
Population
Year Density
2007 157.96
2000 110.09
1995 38.09
1990 10.79
Family income & Expenditure:
Family income includes income in cash or in kind such as produced from family owned
farms consumed by the households. Almost all of the recipients were tilling their land and
used it as coconut farming, banana plantation and corn farming to augment their income
they were raising farm animals for food consumption and sell the other at the market in
the city. Some of them also drives “habal-habal” motorcycle in order to sustain the basic
needs of their family. Thus, most of the residents in the barangay had income below the
minimum basic standard.
Socio-Economic Condition and Challenges faced by the project proponents were:
 Coconut trees were damaged caused by El Nino Phenomenon

General Santos City experienced long dry spell and it greatly affected all the
crops as well as farm animals. The proponent group is requesting for a seedlings
and fertilizer subsidy to replace damaged crops.
 Less Access to Technology, Mechanized Facilities and Equipment. Due to

limited access to funds and microfinancing institution, the association were
not able to upgrade its existing traditional facilities, thus resulting to low
productivity and wastage of time and resources.
3. Benefits
The general objective of the business enterprise is to improve quality of life of coconut
farmers, especially the Indigenous Peoples in the upland communities, by practically
increasing their income from their coco syrup production.
62 | P a g e
4. Consultation Process
There were series of coordination and consultations conducted to the various

stakeholders by the Local Government of General Santos through the CPMIU together with
Regional Project Coordinating Office of the Department of Agriculture 12/’
Two meetings were also held in Purok Malipayon, Barangay Sinawal which were
attended by the association’s members and staff of the City Agriculturist Office.
The direct members were also consulted by the proponent group. They have
undergone the process of coordinating, meeting and orientation with the board and the
general assembly. Please see attached documents of consultation meetings (minutes,
photos and attendance sheets) Annex “Z”.
5. Acceptance of the Proposed Project
The proposed project is socially accepted by the identified stakeholders as it would

significantly enhance the economic condition of the direct and indirect beneficiaries.
The Barangay Council of Sinawal had passed a resolution recommending and

approving the proposed enterprise due to its viability. Resolution to follow.
6. Concerns and Inputs/Women Participation
Women Participation
Significantly, women members of the association have actively participated during the
POs Consultation on Coco syrup production and marketing. Common concerns damaged
coconuts that were affected by long dry spell. But then this can be arrested since they will
request from the City Agriculturist Office and Philippine Coconut Authority the seedlings
and fertilizer in replacement of the damaged crops.
The project will create additional Household Income for 70 IP women by providing
them livelihood activity through processing of coco syrup that has been harvested by the
tappers.
63 | P a g e
7. Indigenous Cultural Community/Indigenous Peoples (ICC/IP)
Long time ago, before the arrival of settlers here in General Santos City, Barangay
Sinawal was inhabited purely by natives called “B’laans”. The word B’laan was taken from
B’laan boy was drowned in the once unnamed river in the place. The name of the boy was
“As-nawal” devolved into Sinawal since it is easier for them to utter. At present, they still
dominated in the area.
8. Site Acquisition
The production site as well as the consolidation center are located within ancestral
domain. Based on the existing land use, the proposed project site where the establishment
of the processing facility and the warehouse is within the Alienable and Disposable (A&D)
land and declared as not needed for forest purposes .
9. Damage to Standing Crops, Houses and/or Properties
The consolidation center to be established as part of the equity of the association will
not damage any crops or hamper other farm activities.
10. Physical and Economic displacement of persons
The project involves production & marketing. Thus, the proposed subproject will not
cause any dislocation and relocation of settlements. Consequently, since, there were no
physical displacement of households nor families, the issue on economic displacement of
persons is not applicable.
In terms of social impact, there would be great possible economic opportunities to the
society within and outside the influence area, thus, improvements of well-being.
11. Grievance Redress Mechanism
The Local government of General Santos is on the process of creating the Grievance
and Redress Mechanism (GRM) through Executive Order No ____ Series of 2016 effective
________________ to oversee and monitor feedbacks or grievances that may come up before,
during and after project implementation.
64 | P a g e
B. Environmental Safeguard Aspects
1. Natural Habitat
General Santos City as a whole does not have any protection forest. Most of the
forestlands are being utilized for agricultural purposes a large proportion of its A&D
land is being utilized as built up, agriculture and pasture lands.
The project has been selected due to its accessibility to the associations’ production
and processing area. Presence of spring water supply source in the project site is stable.
There were no endangered or threatened species found in the area. Proper flora and
fauna inventory will be conducted as part of the baseline information and input to other
study later on.
2. Physical Cultural Resources
Based on field validation and attached geotagged data of the project site, there is no
physical cultural resources on the site that would be affected by the project. The project
site is not part of an important natural feature or landscape thus, there would be no
adverse impacts on the existing resources.
3. Terrain, Soil Types and Rainfall

The terrain of the project site is plain to mountainous with a tropical climate. and soil
type is sandy loam and clay loam. A well distributed rainfall throughout the year and a
typhoon free is observed.
4. Hazard/Risk Assessment (Drainage Situations, Erosion and Flooding

Potential)
There is a need to consolidate the efforts of individuals, institutions and the local
government of the City of General Santos to address the urgent life threatening of global
warming and climate change to all vulnerable communities; especially when reports from
Regional office 12 of the Mines and Geosciences Bureau has identified barangays Baluan,
Buayan, Bula, Calumpang, Siguel, Lagao, and Sinawal as high risk to flooding which need to
be further studied and specified with the corresponding need to prepare the residents of
these barangays for their eventual happening.
To address this, the City has already passed Ordinance no. 03, series of 2011 which
created the General Santos City Disaster Risk Reduction and Management Office
(GSCDRRMO) to be able to assess the long term threats such as erosion of the city’s food
security due to erratic weather patterns that will affect agricultural production among
65 | P a g e
others. With these anticipated impacts, there is an emerging imperative to institutionalize
measures, policies, plans and programs for climate change adaptation and mitigation to be
considered in the plans of the GSCDRRMO and other offices and units of the City
Government to ensure climate-proof development of the City.
Also, An ordinance Mainstreaming and Integrating Climate Change Adaptation and

Mitigation into the Local Government of General Santos City’s Policy Formulation and for
other purposes. Ordinance No. 18, Series of 2013.
5. Integrated Pest Management and DA-KASAKALIKASAN
There is an existing practice of Integrated Pest Management Program (IPM) in the area.
IPM is an effective and environmentally sensitive approach to pest management that relies
on a combination of common sense practices. However, it takes advantage of all
appropriate pest management options including but not limited to judicious use of
pesticide. In Sinawal they practice using natural ________________ under tree brushing,
sanitation to prevent pest and diseases. Abaca being shade loving plants, need to be planted
together with forest trees. Planting in open area was discouraged in order to prevent
bunchy top diseases. Information campaign and training will enable farmers in the
influence area acquire knowledge, skills and awareness to adopt IPM program.
C. Social and Environmental Impacts

(Please refer to the attached ESMP )
66 | P a g e

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PHILIPPINE RURAL DEVELOPMENT

No. Title Page

25 Fund Sources and Allotment

No. Title Page

Subproject Title PROCESSING AND MARKETING OF COCO SYRUP

Location Purok Pao-pao, Barangay Sinawal, General Santos City

SINAWAL SMALL FARMERS’ ASSOCIATION

Cluster Members None

Target Start Date: (target date for the first NOL2)

Loan Proceeds (WB) and Government of the

LGU-General Santos City 505,800.00

Proponent Group 412,200.00

The increasing domestic and export demand of non-traditional coconut-based

Specifically, this project aims to achieve the following:

3. At least ten percent (5%) increase in annual real household income of 84

The Products to be Produced

The proposed project requires a capitalization of Php 2,941,200.00. The proposed

The result of an investment analysis shows an NPV of Php 190,446,638.15 and an

I. DESCRIPTION OF THE BUSINESS ENTERPRISE

1. Opportunity for the Enterprise and its Products

Coconut Production 2014

2 Philippines 14,696,280 mt 30.00%

3 India 11,078,873 mt 23.30%

4 Brazil 2,890,286 mt 5.66%

5 Sri Lanka 2,513,000 mt 4.90%

Traditional coconut production of the Philippines is the main export product of

The Philippines is one of the world's largest producers of coconut products.

Figure 2: Philippine Coconut Production 2010 to 2014

Coconut Production (2010-2014)

Figure 3: Non-traditional Exports

Alabel 51,098.27 8,916.66 385,847 93,351 412,468 891,666

Glan 69,760.00 36,166.54 1,759,559 1,746,724 110,370 3,616,653

Kaimba 41,828.00 11,177.33 481,044 322,876 313,813 1,117,733

Maasim 54,338.00 12,168.50 687,940 302,699 226,211 1,216,850

Maitum 32,435.00 6,920.04 307,466 272,828 111,710 692,004

Malapatan 62,456.00 18,043.33 1,571,569 167,000 65,764 1,804,333

Malungon 89,663.63 8,097.11 479,698 11,011 319,002 809,711

Gen. Santos City 53,606.00 10,243.71 729,174 188,650 106,547 1,024,371

Processing and Marketing of Coco Syrup

The Sinawal Small Farmers’ Association is newly-organized and registered as a

a. Processing of Coco Syrup

Figure 4: Process Flow of Coco Syrup Production

Collection of coco sap from the tree – every 6 hours

Cooking of coco sap into coco syrup – 110 degree

Delivery of coco syrup to the association

Consolidation of coco syrup (Association)

Consolidated coco syrup will be delivered to the

With favorable weather condition and based on the association’s production of

3. Products and Services

Table 4: 2012 Coconut Statistics of Region XII

Figure 6 : Top 3 Producers of Coconuts (Tons)

Top 3 Producers of Coconut (Tons)

Figure 7: Distribution of Coconut Sap sugar in the export market.

USA Australia Singapore

Coconut Sap Sugar Producers in the Country per Region

2. Target Customer Profile

However, in terms of production, Indonesia is the top coconut producing country

3. Supply and Demand Analysis

1. Current Market Share