Philippines lags behind in foods exports

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food exportThe Philippines is behind its ASEAN peers when it comes to food exports, the Philippine Food Processors and Exporters Organisation (Philfoodex) said in a statement on April 7.

“The Philippine food export turnover is still far behind our ASEAN neighbours. For example, Thailand has an average of $20 billion annual revenue from food exports,” said Philfoodex president Roberto C. Amores in the statement, adding that “much can still be done to enhance our export performance.”

In 2012, the Philippines exported $3.55 billion worth of food products, up 11.56 per cent year-on-year and constituting 6.8 per cent of the country’s total exports in that year of $51.99 billion. Food exporters expect the value of exports to increase 6 per cent this year and 10 per cent in 2014.

Many of the country’s food exporters are small and medium-sized enterprises that could benefit from government assistance in gaining access to technology and financing, said Amores.

“The government should continue to address the problem of MSMEs’ lack of access to financing for them to expand and modernize their facilities to meet international standards,” he said.

Philfoodex also suggested removing import and export duties on raw materials and lowering power rates, saying that the rates in the economic zones are 40 per cent lower than are available to exporters outside the ecozones.

Processed foods accounted for 57 per cent of all Philippines food exports in 2012. Fresh foods make up 28 per cent of the total, and marine products the remaining 15 per cent.

 

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Reading Time: 1 minute

The Philippines is behind its ASEAN peers when it comes to food exports, the Philippine Food Processors and Exporters Organisation (Philfoodex) said in a statement on April 7.

Reading Time: 1 minute

food exportThe Philippines is behind its ASEAN peers when it comes to food exports, the Philippine Food Processors and Exporters Organisation (Philfoodex) said in a statement on April 7.

“The Philippine food export turnover is still far behind our ASEAN neighbours. For example, Thailand has an average of $20 billion annual revenue from food exports,” said Philfoodex president Roberto C. Amores in the statement, adding that “much can still be done to enhance our export performance.”

In 2012, the Philippines exported $3.55 billion worth of food products, up 11.56 per cent year-on-year and constituting 6.8 per cent of the country’s total exports in that year of $51.99 billion. Food exporters expect the value of exports to increase 6 per cent this year and 10 per cent in 2014.

Many of the country’s food exporters are small and medium-sized enterprises that could benefit from government assistance in gaining access to technology and financing, said Amores.

“The government should continue to address the problem of MSMEs’ lack of access to financing for them to expand and modernize their facilities to meet international standards,” he said.

Philfoodex also suggested removing import and export duties on raw materials and lowering power rates, saying that the rates in the economic zones are 40 per cent lower than are available to exporters outside the ecozones.

Processed foods accounted for 57 per cent of all Philippines food exports in 2012. Fresh foods make up 28 per cent of the total, and marine products the remaining 15 per cent.

 

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