- | Axelum Resources Corp. expects overall revenues may slump due to lower global prices for coconut oil |
- | Coconut water accounts for about 20% to 30% of the company’s business |
- | Axelum supplies coconut water products to a number of global brands such as Vita Coco, Kirkland, and Fiesta |
| The part of the family |
$AXLM expects sales volume of coconut water to increase this year, although overall revenues may slump due to lower global prices for coconut oil.
The integrated coconut product manufacturer is banking on the rising market for coconut water to support its growth in the following years. Citing a study by the University of Asia and the Pacific (UA&P), Axelum said coconut water is expected to grow between 12-20% from 2019 to 2023, driven by new product developments.
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September 11, 2019 10:27 am