The Philippines is home to a number of highly competitive food manufacturing industries and suppliers, one of which is the production of nut and dried fruit.
55% of the country's total production of dried fruit is shipped to key markets such as the United States of America, China, Japan, South Korea, and other Asia Pacific countries.
This country's brand of dried fruit is well-known all over the world.
Because dried fruit is well received in many parts of the world, the Philippines stands to gain significant financial advantages if it broadens the scope of its market presence and places a larger emphasis on the value of the dried fruit it produces domestically.
Dried Fruit and Nuts
There are many drivers of demand that point to the enormous market potential for dried fruit exports.
When it comes to satisfying their nutritional requirements, consumers in developed countries have increasingly resorted to natural and organic products.
This trend can be seen in the countries' primary markets.
When compared to traditional potato chips or artificially sweetened candies and sweets, dried fruit is often considered to be a more natural and hence healthier alternative for a snack.
Additionally, dried fruits are finding more and more use in the confectionary and bread industries.
There is a tremendous potential for export, as well as a strong demand for Philippine dried fruit in the domestic market.
Dried Fruit and Nuts Best
This demand is fueled by the consumption of abroad Filipino workers, the growing number of tourists visiting the Philippines, and the high population with disposable income.
In conclusion, because the Philippines were just recently included in the Generalized System of Preferences Plus (EU GSP+), there is an unexplored market potential for European consumers of natural food items, notably dried fruit, in the Philippines.
Producing dried fruit as part of a commercial processing operation is one of the activities that could be considered for inclusion on the IPP's list of preferred operations.
Commercial processing of agricultural products should involve the use of domestically produced raw or semi-processed agricultural products unless these inputs are not locally available (NLP) or are not in sufficient quantity.
This is the case when domestically produced raw or semi-processed agricultural products are used (NISQ).
Dried Fruit and Nuts Features
The project can be eligible for registration if it uses imported raw or semi-processed agricultural products that are produced locally (LP) or in sufficient quantity (ISQ).
This is also true if the finished/final product is destined for export, or if the project is eligible for pioneer status.
It has been said that the Philippine fruit is the best fruit in the world, and its processed derivatives, such as dried strips, juices, and other items of a similar nature, have been offered as an ever-welcome gift to Filipinos who are working in many different regions of the world.
However, the industry of dried fruits is under severe competition, particularly from Thailand, which is located in the ASEAN region.
The local fruit processing business, particularly with regard to fruits, is being held back from expanding due to high production costs and a limited supply.
Manufacturers in the Philippines are being forced to sell Philippine dried fruits as a high-end product due to the high cost of acquiring green fruits, according to Erwin Siao of R&M preserves, the pioneers of the dried fruit processing industry.
This makes it difficult to compete with similar products from other countries.
Dried Fruit and Nuts in the World
In terms of the worldwide market, there is a sizable market that is ripe for the picking and is waiting to be exploited.
There is still a lot of room for growth there, but the price problem is becoming more of an issue as a result of the number of competitors, both domestically and internationally, he said.
Siao used Thailand as an example and said that even though the quality of Thailand's dried fruit products might be lower than that of those produced in the Philippines, the fact that they are sold at more affordable prices and come in more aesthetically pleasing packaging makes them more appealing to buyers on the international market.
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