“This EU sector presents a key and strategic market for the Philippines’ high-value food and beverage products,” Rosvi C. Gaetos, executive director of CITEM, said in a statement.
Local companies must, “take advantage of Europe’s increasing demand for Asian food and ingredients brought about by the growing number of health-conscious consumers and the large ethnic groups residing in wealthy EU countries,” Gaetos said.
“They include Asian migrants and tourists, and the more than 500,000 EU-based Filipinos,” she added.
CITEM detailed that Philippine food exports surged 20% annualy to US2.57bn in the first quarter of 2012.
The country’s trade department, CITEM, said that demands for Asian food and ingredients is being driven by Europe’s hotel, restaurant and catering sector and a consumer trend towards dining out or buying take-away food.
