Food expo sales seen to hit $1.4M

MANILA, Philippines - Sales for this year’s Philippine Food Processors and Exporters Organization, Inc.,(Philfoodex) is expected to exceed last year’s onsite sales of $1.4 million.

Philfoodex president Roberto Amores said the Food Expo is the gateway of the best of Philippine food products to the global market.

This annual event is now on its 11th year. According to Amores it is a venue to increase sales of existing food products, to break into new markets, to introduce and launch new products, for the generation and exchange of relevant trade and industry information, establishing business ties and to strengthen partnerships.

Last year’s 10th Philippine Food Expo generated P 62, 071,174 or more than $ 1.4 million in total onsite sales as declared by the 237 companies which participated in the four-day food expo. Also, in 2011 there were more than 25,000 visitors who registered during the event compared to 17,000 visitors in 2010. This visitor turnout indicates an increase of 32 percent.

“With the expanded participation of the fresh and processed food producers including allied industries, it is expected that this year’s food expo will gather more visitors and serious buyers, and which will surpass last year’s on site sales,” Amores said

Amores said they have invited this year some very important buyers from USA, Europe, China, Korea, Hongkong, Japan, the Middle East and Australia.

Amores said recent statistics indicate that Philippine food export sales of more than $2.3 billion exceeded by 24 percent the 2010 food export sales of $1.9 million. By product groups, processed food and beverages contributed $941.80 million, fruits and vegetables, $907.52 million, and marine products accounted for $507.01 million.

By specific products, Cavendish bananas showed a strong performance generating revenues of more than $440 million. This was followed by tuna with export valued at $262 million and canned pineapple with sales of $175 million.

“These are remarkable and commendable figures amid the global trade challenges. We congratulate the agro-food sector as it remains a major contributor to our Gross Domestic Product and economic growth,” he said.

In spite of this, Amores said, there is much to be done to enhance the performance. In comparison with its neighbours, Philippine food export turnover is far behind its ASEAN neighbors. For example, Thailand’s food exports reached $24.38 billion in 2010 and this export sales value increased to $27.65 billion in 2011 despite the protracted financial crisis in the USA and Europe and the recent great flood which occurred in Thailand due to climate change.