Subject: LUSA: New firm taps lucrative coconut oil export market

20-01-2005 22:47:00. Fonte LUSA. Notícia SIR-6684542 Temas:

East Timor: New firm taps lucrative coconut oil export market

Viqueque, East Timor, Jan. 20 (Lusa) - Two entrepreneurs in East Timor have joined forces to export coconut oil in a business that could be worth over USD 45 million every year.

Vicente Ximenes and Vitor da Costa are partners in the COLEGA PTA company set up in 2000 and currently with 200 employees.

The two men raised USD 250,000 from their own capital and bank loans to equip their firm to produce sufficient coconut oil to supply overseas clients.

Ten metric tons of coconut oil left Timor Thursday for Australia, where COLEGA PTA signed an accord last year with the Kokunut Pacific company to sell its products in Australian and European markets.

Coconut oil is a used as a raw material in the cosmetic and pharmaceutical industries and is also marketed as an edible oil with beneficial health effects.

EL/CJB Lusa

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