The Philippine delegation composed of coconut and plant-based products exhibitors generated a record-breaking USD174.69 million initial export sales at the Seoul Food and Hotel (SFH) 2023, held at the Korea International Exhibition (KINTEX) Center 1.
The Philippine participation at the four-day (May 30-June 2, 2023) food and hospitality trade show yielded USD19.89 million in actual sales.
It also attracted foreign buyers, with USD154.80 million in export sales under negotiation, which is one of the highest among the trade fairs participated in by the Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) under the Coconut Farmers and Industry Development Plan (CFIDP), following its first year of implementation in 2022.
The delegation led by the DTI-EMB and the Philippine Trade and Investment Center (PTIC)-Seoul 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.
PTIC-Seoul Commercial Counselor Jose Ma. S. Dinsay said, “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.”
DTI Assistant Secretary Glenn G. Peñaranda noted, “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.”
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 the country’s MSMEs to gain on-the-ground market insights that will allow them to better position their products in the highly competitive Korean market.
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.
The ASEAN Trade Fair, on the other hand, showcased Philippine plant-based products of Jack’s Produce, OSH (Oh So Healthy), 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).
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.
