DTI eyes $33-M sales from int’l food festival

MANILA, Philippines - The Department of Trade and Industry (DTI) aims to generate $33 million worth of sales from the 9th International Food Exhibition (IFEX) Philippines, a food and ingredients trade show being held this week.   

“Our target sales for this year is $33 million for both exports and  retail,” Rosario Virginia Gaetos, executive director of the DTI’s  export marketing arm Center for International Trade Expositions and  Missions (CITEM) told reporters at the sidelines of the opening of the  trade show.   

She noted that $22 million worth of sales were generated from the 8th IFEX.  

She said higher sales are seen this year given a bigger venue.   

The previous show only occupied one floor of the SMX Convention Center, while this year’s show would have the entire convention hall as  its exhibit area.   

Gaetos also said there are 720 booths in this year’s show, well-above the 300 booths during the 8th IFEX.   

DTI Secretary Gregory Domingo told reporters in the same event that with many international firms participating in the trade show, the department plans to hold the IFEX every year.   

The IFEX is held once every two years.   

“We want to do it (IFEX) every year since we see there are benefits for food manufacturers and exporters,” Domingo said.   

DTI undersecretary Ponciano Manalo told reporters holding the food trade show every year would also allow the country to diversify its exports which is composed mostly of electronic products.   

“Our vision is to increase the share of food in our exports so we have to look at other categories that will help grow the exports sector,” he said.   

The IFEX, which is organized by the CITEM with the Department of Agriculture’s Agribusiness Marketing Assistance Service, is a premier international sourcing hub for the finest ethnic Asian food, ingredients and raw materials.   

Since 2004, the show has provided food and beverage companies the key venue to promote their products globally and connect with international buyers, importers, and retailers.   

The 9th IFEX is being held from May 16 to 19.