Singapore expects its food and beverage (F&B) exports to the Gulf Cooperation Council (GCC) region to maintain, if not exceed, the annual average growth rate of 10 per cent, according to the city-state’s regional trade representative.
Lim Ban Hoe, group director of International Enterprise (IE) Singapore’s Middle East and Africa International Operations Group, says their F&B exports to the Gulf is currently valued at SGD291 million (Dh759m; $206m) and has shown a 10.25 per cent annual growth between 2006 and 2009.
“Our country is always looking for new regions to expand into. The consumer industry [in the GCC] is growing because of both the local and expatriate population. Over the course of years, this region has become very interesting to our companies,” says Lim.
The Gulf region is ranked as the seventh fastest growing market for various Singapore export products such as edible oil, cereal and dairy products, to name a few.
Lim said Singapore has also been capitalising on Southeast Asia’s status as the second largest market for halal foods.
“We have stringent halal certification process that is recognised in the UAE and the rest of the GCC. Our companies coming into this region are very much aware of the halal requirements,” he said.
In a bid to introduce traditional Singapore cuisines to the region, F&B exporters have likewise developed halal variations of these foods.
At this year’s Gulfood expo, Singapore brought in a delegation of 25 food manufacturers and distributors under the Tasty Singapore banner. The companies offer a wide array of products such as canned and frozen foods, chocolates, snacks, tea, specialty oils, beverages and sauces.
Meanwhile Mark Napier, exhibitions director at Dubai World Trade Centre, said organisers are confident that this year’s Gulfood will meet, if not exceed, the targeted footfall of 47,000 trade visitors.
On the first day of the exhibition, Napier said the number of visitors had been significantly up – a clear reflection of how the food and beverage industry has weathered the financial crisis.
“We’re more impressed by the quality of trade visitors on the show. Exhibitors have reported serious buyers. That’s a massive return on their investment,” he said.
Consider also reading:
Gulfood 2010 up 20pct amid strong food industry
UAE food consumption to grow by 3pct in 2010
Al Ghurair Foods eyes Mideast, Asia expansion
Your comments