Connect with us

Hi, what are you looking for?

Economy

Coconut, calamansi touted for market potential in Europe

THE Department of Trade and Industry (DTI) said Monday that it will help producers interested in exporting coconut, calamansi, carrageenan, and moringa to Europe, where they are expected to sell well.

“A market study found that coconut, calamansi, carrageenan, and moringa have big potential in European markets. Other Philippine agricultural products cited were ube, turmeric, butterfly pea flower — from which tea is made — and the elemi tree — a source of resin and medicine. The demand is driven by healthy lifestyle choices and using natural ingredients in manufacturing cosmetics and medicines,” the Trade department said in an e-mail.

Trade Undersecretary Abdulgani M. Macatoman said: “We invite all Philippine producers of the mentioned natural ingredients to take the leap and start exporting.”

“If you have apprehensions, the DTI-Export Marketing Bureau (EMB) will help you become export-ready and connect you with foreign buyers,” he added.

The Swiss Import Promotion Program, in partnership with DTI-EMB and the Embassy of Switzerland in Manila, conducted the market study last year.

Citing the study, the DTI noted that there has been a growing demand for virgin coconut oil (VCO) in Europe.

“The Philippines is the world’s main producer of VCO and the second-largest producer of coconut products after Indonesia,” it noted.

The DTI said annual exports of VCO as of November 2020 amounted to $74 million.

Calamansi is another emerging export product, the DTI said. The country exports only at $60,000 as of November last year.

There is also strong demand for carrageenan in Europe.

“The Philippines is the largest producer of carrageenan, accounting for around 77% of the global supply. Global export of carrageenan amounted to $147 million in January to November 2020,” the department said.

As for moringa, potential markets are Germany, the UK, France, the Netherlands, Italy, and Spain. — Arjay L. Balinbin

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Manila and nearby cities would go back to the strictest lockdown level from Aug. 6 to 20 amid a fresh surge in coronavirus infections...

Economy

The Philippine central bank will keep a supportive monetary policy amid a slower-than-anticipated economic recovery, its governor said on Friday.  “High-frequency indicators suggest that...

Economy

The Philippine central bank raised P100 billion on Friday as it fully awarded its short-term securities, with yields rising due to concerns about a...

Economy

The Securities and Exchange Commission (SEC) on Friday launched a new office under its Corporate Governance and Finance Department (CGFD) that will focus on...

Economy

Consumer foods maker Universal Robina Corp. said on Friday that its snacks and biscuits joint venture based in Australia and New Zealand is to...

Economy

PHILEX MINING Corp. reported an 86% increase in its second-quarter net income to P599.53 million on the back of sustained levels of metal output...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!