Trade delegation to China generates $462M in prospective orders

trade delegation to china generates 462m in prospective orders - Trade delegation to China generates $462M in prospective orders

THE PHILIPPINE delegation to a trade show in China last month generated $462 million in export sales commitments and onsite bookings for food products, or almost three times the overall target.

Philippine businesses at the China International Import Expo held at the National Exhibition and Convention Center in Shanghai took in $455.689 million worth of export deals from “signings and commitments” for purchases in the next few years, while it received $6.17 million in onsite booked sales.

The delegation targeted $160 million in overall export deals this year, including $31 million from onsite sales. Last year, the Philippine delegation generated $300 million in on-site and post-event sales.

The Trade department had initially lowered its target due to pandemic-related restrictions, such as the reduced pavilion size and the expected lower number of buyers in attendance.

The 40 Philippine companies this year showcased tropical fruit, processed fruit and vegetables, healthy snacks, and seafood and marine products, the Trade department’s Center for International Trade Expositions and Missions (CITEM) said in a statement Monday.

The commitments valued at $455 million were signed mostly by China-based firms looking to buy fruit from the Philippines.

CITEM said that the largest orders were placed by Sinopec North Energy (Dalian) Co., Ltd. which signed a procurement letter of intent for $245 million worth of young coconut and dried fruit snacks from Eng Seng Food Products over five years.

“Under the deal, the Philippines will supply dried fruit snacks to Sinopec Group’s import business, Easy Joy, while fresh young coconut will be supplied to partners and distributors in China,” CITEM said.

Dole China also committed to buy P180.6 million worth of Philippine fruit next year. Purchases include eight million boxes of bananas, seven million boxes of pineapples, 300,000 boxes of papaya, and 38,400 boxes of avocados. China-based fresh fruit importer Goodfarmer Foods Holding also said it intends to buy $25 million worth of Philippine fruit in 2021.

“We hit our target with our initial sales tally and we expect more sales as negotiations and commitments from the event come to fruition in the coming weeks,” CITEM Executive Director Pauline Suaco-Juan said. — Jenina P. Ibañez

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