PHILIPPINES participants generated an estimated $174.69 million in sales and sales leads from the Seoul Food and Hotel 2023 international food and hospitality trade show which ended on June 2, the Department of Trade and Industry (DTI) said.
In a statement on Wednesday, the DTI said the initial sales consisted of $19.89 million in firm orders, with $154.80 million currently under negotiation.
According to the DTI, the Philippine delegation included coconut, coffee, and cacao producers, plus two farmer cooperatives. The delegation also had four exporters of plant-based products that participated in the ASEAN Trade Fair, a component of the Seoul trade show.
Jose Ma. S. Dinsay, the commercial counselor with the Philippine Trade and Investment Center in Seoul, said coconut and plant-based products can find a ready market in South Korea.
“We are looking to grab bigger opportunities in high-value inputs to manufacturing, food processing, farming, pharmaceuticals, and cosmetics,” Mr. Dinsay said.
“The Philippines was able to prove its readiness to seize opportunities for coconut and plant-based products and collaborate with Korean buyers. With this, the DTI will strengthen its initiatives that aim to expand and diversify the country’s exports, in line with the Philippine Export Development Plan (PEDP) for 2023-2028,” Trade Assistant Secretary Glenn G. Peñaranda said.
According to the DTI, the Philippine delegation included Benevelle Corp., Cattleya & Rose Gourmet Foods Trading, Eng Seng Food Products, Fortune of Wishes Seafood Products, Fruits of Life, Inc., Greenlife Coconut Products Philippines, Inc., Hijo Superfoods, Kalipunan ng Maliliit na Magniniyog ng Pilipino Agriculture Cooperative, Kimes Food International, Inc., Marigold Manufacturing Corp., Miguelitos International Corp., Pinagdanlayan Multi-purpose Cooperative, Profood International Corp., Sol’s Italian Food, Theo & Philo Chocolate Factory, and Tongsan Industrial Corp.
The four Philippine plant-based product exporters were Jack’s Produce, Oh so Healthy, Vegetari Vegetarian, and Zigmund Enterprises. — Revin Mikhael D. Ochave