The Department of Trade and Industry (DTI) Philippines delegation to the Seoul Food and Hotel (SFH) 2023 generated initial export sales of USD 174.69 million (USD 19.89 million actual sales and USD 154.80 million sales under negotiation) during the four-day food and hospitality trade show held on 30 May to 02 June 2023 at the Korea International Exhibition (KINTEX) Center 1, South Korea.
The mission resulted in significant interest from foreign buyers, with more than USD 150 million in export sales under negotiation, one of the highest, among the trade fairs participated in by the DTI-Export Marketing Bureau (EMB) under the Coconut Farmers and Industry Development Plan (CFIDP), following its first year of implementation in 2022.
Philippine Trade and Investment Center (PTIC) in Seoul Commercial Counselor Jose Ma. S. Dinsay emphasized that “The potential for coconut and plant-based products in Korea is huge. Aside from retail products, we are looking to grab bigger opportunities in high-value inputs to manufacturing, food processing, farming, pharmaceutical, and cosmetics.”
This initiative is part of the implementation of the Coconut Farmers and Industry Development Plan (CFIDP), where the DTI has been assisting farmer cooperatives and exporters to increase their knowledge in the global market through research, marketing, and marketing promotion strategies, and in line with the Philippine Export Development Plan (PEDP) 2023-2028.
“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,” DTI Assistant Secretary Glenn G. Peñaranda stated.
SFH is Korea’s most prominent international food and hospitality trade show, connecting global businesses and enabling Korean buyers to access premium products worldwide. Organized by the Korea Trade-Investment Promotion Agency (KOTRA) and co-organized by Informa Markets and KINTEX, the 2023 edition consisted of 2,515 booths of 1,316 companies from 39 countries.
SFH provides a valuable platform for networking, showcasing products, and facilitating business opportunities within the food and hospitality sectors, making it a key event for industry professionals and businesses looking to engage in the Korean market. The Philippine participation in SFH also enabled Philippine MSMEs to gain on-the-ground market insights that will allow them to better position their products in the highly competitive Korean market. Also, the ASEAN Trade Fair, which was part of SFH 2023, showcased Philippine plant-based products of Jack’s Produce, Oh so Healthy (OSH), Vegetari Vegetarian, and Zigmund Enterprises to the Korean global market. The Philippine plant-based companies are part of the 43 exhibitors from the 10 ASEAN member states, supported by the ASEAN Korea Centre (AKC).
“Participating in the fair is essential and was proven beneficial to our business to meet new buyers and directly connect with them,” Marita M. Quiaonza of Sol’s Italian Foods noted.
“As an MSME, being selected to join the expo under the Coconut Philippines Pavilion is an honor. Our goals are to increase our credibility, market exposure, and market access abroad; and, we have met these,” added Cattleya Romero-Faude of Cattleya & Rose Gourmet Foods Trading.
The Philippine Delegation includes 14 coconut, coffee, and cacao exporters, and 2 (two) farmer cooperatives that were featured in the Coconut Philippines pavilion, and four (4) exporters of plant-based products in the ASEAN Trade Fair, and was led by DTI-EMB and PTIC-Seoul.
The Coconut Philippines Pavilion showcased the products of Benevelle Corporation, 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 Corporation, Miguelitos International Corporation, Pinagdanlayan Multi-purpose Cooperative, Profood International Corporation, Sol’s Italian Food, Theo & Philo Chocolate Factory, and Tongsan Industrial Corporation which gained high level of interest from both Korean and other foreign buyers during SFH 2023.
The Coconut Philippines pavilion and Philippine booths at the ASEAN Korea Trade Fair were visited by major buyers and large general food companies such as Lotte, E-Mart, Daesang Group; Shinsegae department store; and e-commerce platforms like Coupang and AMAZON Korea. They have also expressed their interest to source Filipino products, particularly desiccated coconut, coconut water, coconut butter, coconut chips, coconut wraps, fruit crisps, vegetable crisps, and calamansi fruit concentrate.
Date of Release: 05 July 2023
