NZ, Russia, ME, US eyed as new key markets for RP food exports

The government and the private sector are looking at New Zealand, Russia, the Middle East and the United States as new key markets for the country’s food exports.

“New Zealand’s feature as an English-speaking country having similar business practices with the US makes it a good market for local food companies,” Roberto Amores, president of Hi-las Marketing Corp. and a director of Philexport, the umbrella group of the country’s exporters, told participants of the recently concluded Market Information Exchange (MIX). He said the Philippines is currently selling fresh mango, banana, pineapple and papaya products to New Zealand because of the Philippine companies’ ability to adapt to its stringent food regulation.

The Russian food and beverage sector was also identified as an area of opportunity given the industry’s annual growth rate of 20 percent. In fact, it is expected to grow into a 350 billion euro industry by 2010. Russia has 2,600 supermarkets, 92 hypermarkets, and thousands of convenience stores where Filipino food products can be displayed and sold.

The Middle East, on the other hand, has been identified as one of the most interesting world markets because of its $12 billion food industry and the million-strong overseas Filipino workers (OFWs) in the region.

In the United States, the specialty foods’ retail market size is now valued at $34 billion, growing at 15.1 percent, primarily through supermarkets and mass merchants. Major food trends in this country include convenient foods with extreme portability and one-handed eating/drinking, foods with Asian flavors, and foodstuffs with various health benefits.

Based on industry statistics, the food sector contributes in boosting Philippine export revenues, creating jobs, and helping grow the economy.

Last year, local food exports reached $1.82 billion, a 10.4 percent increase from $1.65 billion in 2005. The country has 3,000 food and beverage establishments, employing a workforce of about 188,000.

In an attempt to further grow the food export industry, the Center for International Trade Expositions and Missions (CITEM), the trade promotions agency of the Department of Trade and Industry (DTI), together with the Philippine Trade Training Center, Bureau of Export Trade Promotion, and the Department of Agriculture (DA), organized MIX, a knowledge-sharing platform on the results of the international participation of Philippine food exporters in selected trade fairs and business missions.

Source:

The Philippine Star, 17 August 2007, Business section (Ma. Elisa P. Osorio)