PH is largest market for US food, beverage - report
The Philippines has become the largest market for U.S. food and beverage products in Southeast Asia as a surging economy and rising tourism are seen stoking demand for American goods in 2013, a report by the U.S. agriculture attaché said.
“U.S. consumer oriented food and beverage exports to the Philippines have increased an estimated 12% in 2012 to a record $850 million and have doubled since 2009,” the report said.
The report by the attaché is compiled by U.S. agriculture experts and is not official data from the U.S. Agriculture Department. But they are considered as authoritative and influential in the commodity trading community.
“The Philippines remains the largest U.S. food and beverage market in Southeast Asia, and one of the fastest growing in the world,” the report said.
The latest U.S. Customs data through November showed that at least 10 of the 16 food and beverage categories will hit record sales in 2012. The list of U.S. food and beverage exports to the Philippines includes dairy products, red meats, poultry meat, snack foods, processed fruits and vegetables, and fresh fruits.
The U.S. attaché urged American exporters to take part in trade shows so they can meet potential importers of their products. U.S. exporters should partner with Philippine importers, with some setting up buying offices in the U.S. to consolidate their shipments on the U.S. West Coast.
“U.S. exporters are encouraged to maintain close contact with their Philippine importers and support efforts to introducing the products to foodservice customers by participating in technical seminars, product demonstrations, and local trade shows. Regular market visits are also highly valued by Philippine importers and regarded as a show of support,” the attaché said. - Rappler.com
Note: The author is with Philippine Commodities Digest, a weekly publication of New Jersey-based A & V Media that provides a comprehensive roundup of developments and trends in the country’s key farming and mining sectors.