Singapore expects sales increase at Gulfood
Dubai, February 13, 2012
Singapore food and beverage companies participating in the Gulfood 2012 exhibition in Dubai are expecting to achieve stronger sales than last year.
Gulfood 2012 is set to be held at the Dubai International Convention and Exhibition Centre from February 19 to 22.
Exhibitors generated close to $14 million in food and beverage sales to the GCC as a result of participating in the tradeshow last year. This has driven the growth of Singapore food exports to the GCC to $286 million in 2011, an annual compounded growth rate of 16 per cent since 2006.
Some 40 food and beverage companies will represent Singapore at Gulfood as part of the Tasty Singapore country pavilion. With half of those companies unveiling new products, organisers are expecting sales to pick up from the previous year.
The pavilion will showcase the country’s latest flavours, trends and food innovations, said a statement.
It is being organised by the Singapore Food Manufacturers’ Association (SFMA) with the support of Singapore Manufacturers’ Federation (SMa) and International Enterprise (IE) Singapore.
IE Singapore is the lead government agency driving its external economy by helping foreign companies and governments partner with Singapore-based enterprises for growth.
A key driver of Singapore’s F&B export growth in the region has been demand for South East Asian cuisine in the UAE, its largest export market in the GCC. Growing at an annual compounded rate of 11 per cent, Singapore food exports to the UAE reached $123 million last year.
Lester Lu, IE Singapore’s regional director for UAE, said: “The GCC region has become Singapore’s ninth largest market for F&B exports, with the UAE, Saudi Arabia and Kuwait among the top performing countries. Most Singapore F&B companies in the Middle East enter the market via the UAE as it is a distribution hub for the region.”
“Having gained market knowledge and a track record, these companies then look to expand their presence across the GCC. This expansion is being driven, in part, by a growing demand for quality Southeast Asian food products and concepts as the local community becomes more familiar with our distinctive and spicy flavours,” he said.
“Gulfood has proven to be a key enabler of Singapore’s growth in F&B exports to the GCC region. In fact, it is recognised as the primary selling platform for any Singapore food company wanting to tap this market. In addition to the transactions made onsite, our exhibitors are able to cultivate relationships with distributors and negotiate annual or even longer term sales contracts,” Lu added.
Among Singapore’s top food exports to the region are milk and dairy products, cooking sauces, chocolate, as well as vegetable oil. Beyond these traditionally strong exports, companies are also eyeing growth opportunities in the health and wellness, convenience and Halal food sectors.
Its exceptional food safety record is also a factor in the country’s food export success story. Singapore’s food industry commits significant resources to ensure its products adhere to the most stringent international safety standards, the statement said.
These standards include certification by hazard analysis and critical control points (HACCP) and British Retail Consortium (BRC) as well as compliance with ISO 22000, a food safety management system standard, and ISO 9001, a more general measurement of quality management. – TradeArabia News Service