FT Start-Up Stories Series 3: The Coconut Merchant 10/10
Dec 5, 2016
Al Shariat, founder of a business selling ethically sourced coconut products, shares how a taste test ignited his entrepreneurial spirit after his work with the UNDP. He highlights the importance of partnering directly with farmers for fair pay and community development. Alex Nichols, a social entrepreneurship academic, contrasts fair trade and ethical sourcing, discussing their impacts on supply chains. Both delve into balancing commercial success with social missions, sharing stories of empowerment for farmers and innovative product development.
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Chance Taste Test Sparked The Business
- Al Shariat met his future partner after bringing 20 coconut products for an impromptu taste test on a rainy afternoon.
- They bonded over shared values and a belief that tasty coconut products could also do social good.
Close Farmer Partnerships Drive Shared Growth
- The company partners closely with farmers to ensure fair pay, better conditions, and certification support.
- Growth is framed as mutually beneficial: farmers expand as the business scales.
Farmer's Daughter Goes To University
- Al described meeting an Indonesian coconut sugar farmer who could now send his daughter to university.
- He used this story to show how stable income changes whole communities in remote villages.