THE United States is projecting a 10% increase in foodexports to the Philippines to $2.83 billion in 2018.
According to the United States Department of Agriculture (USDA) Global Agricultural Information Network (GAIN), consumer-oriented food and beverage products including wine are viewed as having the strongest prospects for future export growth driven by consumer confidence in the quality of US goods.
USDA said that the Philippines has been the largest market for US wines in Southeast Asia by volume since 2009. It forecast US wine exports to the Philippines of 4.3 million liters this year, up 10.3%.
The USDA’s Foreign Agricultural Service (FAS) in Manila held promotional events in Makati to increase awareness of the availability, variety and quality of US fine foods and wines.
USDA noted that the Philippines has a strong and growing consumer base, and gross domestic product (GDP) per capita has surpassed $3,000, while 20% of the population earns an average annual income of $12,510.
The USDA noted high levels of awareness and preference for US food and beverage, growing demand for healthy, organic, gourmet and convenience foods, as well as steady growth in the retail, food service and processing industries in the Philippines.
According to USDA, consumption growth in the coming years will be driven by a robust economy, and a young, fast-growing and highly urbanized population with increasingly sophisticated preferences, as well as growing access to modern supermarkets. — Reicelene Joy N. Ignacio