POLVORON. INQUIRER STOCK PHOTO
MANILA, Philippines — A Laguna-based producer of Filipino shortbread, or polvoron, has pitched a half-a-billion-peso funding alternative to members of the Federation of Philippine American Chambers of Commerce, who’re in a week-long commerce mission within the nation.
ChocoVron Vice President Marissa Lourdes Yala informed the Philippine Information Company on the sidelines of the US-PH 2024 Commerce Mission Convention at The Manila Lodge on Friday, October 18, that the P500 million (US$8.75 million) growth plan of the corporate will triple the capability of its manufacturing facility in San Pedro, Laguna.
“Talagang lumalaki ang account, after which wala kami ‘yong fund na further na working capital (Our accounts are actually rising, after which we don’t have a fund for added working capital),” she mentioned.
Yala mentioned this funding can even double the variety of their staff presently at 200. The corporate additionally employs deaf and mute.
She mentioned the corporate wants to lift its manufacturing to satisfy the rising demand from exports and institutional accounts.
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READ: Pricey midnight snackers, this polvoron recipe is for you
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ChocoVron chief advertising officer Jayn Yala in her presentation mentioned the corporate presently has 23 export accounts principally in the US, Australia, New Zealand, United Arab Emirates, and Taiwan.
Jayn Yala additionally mentioned there have been new institutional accounts for the corporate subsequent 12 months.
At present, the corporate has two meals manufacturers—ChocoVron for confectionery merchandise, identified for its chocolate-coated polvoron, and Large Oven identified for its moist and chewy brownies.
READ: Are you able to identify all of those lesser-known Filipino desserts?
She mentioned the growth challenge of their household enterprise can be for brand new model that can cater to the premium market.
“We’re right here to discover the chance of getting gaining investments from international buyers, so we’d be capable to develop our nationwide distribution and by strengthening our model and offering assist to those accounts,” she mentioned.
Yala household began the polvoron enterprise of their house in San Pedro in 2003 with an P8,000 capital.
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The corporate vp mentioned ChocoVron’s 2023 gross sales hit P220 million. (PNA)
