Philippine Leading Food Ingredients, Oleochemical Producer to Expand Export Market

In a virtual press briefing recently, D&L president and chief executive officer Alvin Lao said the listed firm plans to tap Middle Eastern and African markets for its products, adding to its current export markets like Asia and the Pacific, Europe, and the Americas.

He shared that D&L’s Batangas facility has exceeded its export commitments to the Philippine Economic Zone Authority (PEZA) by 175 percent as of February as it fulfilled several orders from both local and overseas customers. The plant has been running for seven months after it began its commercial operation in July 2023.  Forty-three percent of D&L’s exports during the year were food, 37% were oleochemicals, 18 percent were plastic specialty, and 2 percent were consumer products.

He also mentioned that its subsidiary Chemrez, the country’s biggest biodiesel manufacturer, will stand to benefit from the mandated increase in biodiesel blend in the country from 2 percent (B2) to 3 percent (B3), which the Department of Energy targets to implement later this year.  He added that with the less volatile global market, moderating inflation, prospects of rate cuts by the central bank, and the implementation of a higher biodiesel blend, D&L expects at least a 10 percent growth in its net income for the full year of 2024.