Biggest-ever FoodPhilippines participation returns to the Taipei International Food Show with 17 companies
Manila Economic and Cultural Office Chairman and Resident Representative Angelito Tan Banayo (in Khaki Suit), Vice Chairman Gilberto F. Lauengco (to Chairman Banayo’s right) and Philippine Trade and Investment Center in Taipei Trade Representative and Director for Commercial Affairs Michael Alfred V. Ignacio (at Chairman Banayo’s left, in blue suit), led company owners and representatives at the simple opening ceremony and ribbon-cutting of the FoodPhilippines Pavilion at the Taipei International Food Show 2018 in Taipei.
27 June 2018, Taipei - The Department of Trade and Industry (DTI), the Center for International Trade Expositions and Missions (CITEM) and its representative office in Taiwan, the Philippine Trade and Investment Center in Taipei and the Manila Economic and Cultural Office look to drive up more export oppor- tunities in the international food market as it returns to the 28th Taipei International Food Show (TIFS), popularly known as FOOD Taipei, on June 27-30, 2018, at the Taipei Nangang Exhibition Center, Taipei City, Taiwan.
Last year, Philippine food companies generated US$23.4 million worth of export sales in the event. Sixteen firms forming the Philippine delegation in TIFS 2017 surpassed the target sales of US$22 million and exceeded the previous US$21.58 sales generated in 2016 by 8.4 percent.
For this year’s participation, DTI-CITEM is eyeing to generate US$25 million worth of export sales as it seeks to bring 17 strategically selected companies and brands that have most potential for targeting the mainstream Taiwanese market.
Organized by the Taiwan External Trade Development Council (TAITRA), FOOD Taipei is consid- ered as one of Asia’s leading food shows that links the entire food industry supply chain in Taiwan, other countries and economies—from agriculture and aquaculture, refrigeration, processed food, food machinery, packaging and packaging equipment.
Held for 28 years, it has established itself as a premier strategic platform for industry players to showcase their products in Taiwan and other overseas markets. The four-day event is held in con- junction with TAIPEI PACK, FOODTECH & PHARMATECH TAIPEI, TAIWAN HORECA and HALAL TAIWAN.
“Aside from the Taiwanese market, FOOD Taipei is also a great platform to target other global buy- ers as it gathers importers, wholesalers, distributors, hotel owners and representatives, restaurant and bakery owners and online retailers from China, Japan, Hong Kong, Malaysia, the US and Sin- gapore, among others” said Terrado.
In 2017, it was participated by 1,717 exhibitors with a total of 4,011 booths, including participating representatives from 36 countries to cover every link of the supply chain in Taiwan.
“For this year’s participation, we look to further strengthen our market foothold in Taiwan which is known for its diverse culinary culture. It also has a high demand for agri-commodities and tropical food products that are abundant in the Philippines,” explained Terrado.
Among the Philippines’s best sellers in the event were ready-to-drink tropical fruit juices and pre- serves; canned tuna; coconut products, such as virgin coconut oil, coconut cream, sugar and medium chain triglycerides (MCT); muscovado sugar in powder form and rock form; banana chips; soft-serve ice cream mix, cones and waffles; and herbal tea, MX3 coffee and food supplements.
Based on the data of the Philippine Statistics Authority, Taiwan is the Philippines’ 8th largest trad- ing partner, 10th largest export market, 8th biggest source of imports, as well as the 2nd biggest foreign direct investor as of 2017.
According to Euromonitor, retail sales in the packaged food market in Taiwan were estimated to reach over US$7.6 billion in 2016, representing a growth rate of 11.7% or over US$797 million since 2012. By the year 2021, retail sales in the packaged food market in Taiwan is expected to reach over US$8.7 billion.
According to the Ministry of Economic Affairs, Department of Statistics, retail sales in Taiwan in 2015 were $38.3 billion, a 3.8% increase over 2014. In 2015, convenience stores generated US$9.8 billion sales, followed by hypermarkets' US$6.1 billion, supermarkets’ US$6 billion and other outlets including wet markets, mom-and-pop stores and e-commerce sales amounting to US$5.8 billion.
FoodPhilippines in Food Taipei is a branding initiative of CITEM, the export promotion arm of DTI together with the Manila Economic and Cultural Office (MECO) and its commercial affairs section, the Philippine Trade and Investment Center in Taipei. It spearheads the efforts of the government in promoting the Philippines as a source of quality food products in the global market.
This participation is undertaken in cooperation with the Export Marketing Bureau of DTI.
ABOUT PTIC TAIPEI
The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan