By Donnabelle L. Gatdula (The Philippine Star) Updated July 04, 2011 12:00 AM
MANILA, Philippines - Chemrez Technologies Inc., the country's top biodiesel, resins and oleochemicals producer, is intensifying its efforts to tap the so-called "exotic" markets to strengthen its export capabilities.
Chemrez managing director and COO Dean Lao Jr. said they find these exotic markets a way to meet its goal of widening the share of export in its business by 50 percent from the existing level of 20 percent.
"We found exotic markets or those where others do not want to go to such as Africa, Tunisia and Lebanon. We have regular shipments to these countries. And these are markets when given a little attention, they're actually good and they tend to be more loyal," Lao said.
Lao said they have started to tap these markets for the past three years and they plan to continue saturating these markets.
"Maybe as early as three years ago. But in terms of the frequency of going to these markets, we have visited them more frequently last year and even more frequent this year," he said.
But Lao said the contracts for these said markets, however, are short-term. "These exotic markets tend to be spot-based," the Chemrez official said.
He said Chemrez has slowly been making its presence felt in the international market.
Aside from these markets, he said they are also eying other areas where they see potential export growth. "Maybe the South America. We have fewer activity in South America, just a few transactions there. Since it's at the other side of the world already," he said.
Lao said at present, they are considering the US as its biggest potential market for export growth.
"But US is still a growing market for us. We just started. We're starting to talk with several distributors and we've also been engaged on joint marketing sales calls. We go to end-users or clients," he said.
Aside from the US, he said they would continue to serve their other existing big markets.