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Manila Bulletin devider Trade & Energy devider PH coconut, plant exporters generate $175 M sales in Seoul fair

PH coconut, plant exporters generate $175 M sales in Seoul fair

Published Jul 5, 2023 09:09 am
Filipino coconut and plant-based exhibitors generated $174.69 million ($19.89 million actual sales and $154.80 million sales under negotiation) during the four-day Seoul Food and Hotel (SFH) 2023. The fair generated one of the highest sales among the 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. The food and hospitality trade show, which was organized by the Korea Trade-Investment Promotion Agency (KOTRA) and co-organized by Informa Markets and KINTEX, consisted of 2,515 booths of 1,316 companies from 39 countries.  It was held on 30 May to 02 June 2023 at the Korea International Exhibition (KINTEX) Center 1, South Korea. 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 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.

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