US sees opportunities in PH food processing industry
The country’s vibrant food and beverage processing industry is building a wider market for raw farm materials from the United States.
“The Philippines’ rapidly expanding processed food and beverage industry presents robust opportunities for U.S. exporters of agricultural raw materials and high-value ingredients,” the United States Department of Agriculture said in a report.
The agency noted that the local industry’s gross value-added output totaled $28.9 billion in 2016.
The USDA views that both the Philippines’ strategic location and its membership in several trade agreements puts the country at an advantage to easily access high-value ingredients to improve its food and beverage processing industry.