Singapore represents a great opportunity for Spanish food products. The country's small size and lack of natural resources mean that there is a high demand from abroad, where close to 90 % of food products come from overseas. Spanish products in Singapore grew by 6.6 % in 2013.
Singapore Consumers have high purchasing power and are demanding as regards quality products according to the Spanish Foreign Trade and Investment organisation, ICEX. The origin and brand of products are of great importance in Singapore, with the “gourmet" products sector being one of the sectors showing the highest growth and expansion in recent years.
Spanish food products in Singapore exceeded 38 million euros in 2013, 6.6% more than in 2012. Meats exported with a volume of nine million euros, fish and seafood with 8.1 million and oil olive with 4.2 million were the most popular products on the market. In addition, Singapore is a market of interest for Spain because it has a great influence in Southeast Asia and China, as it redistributes nearly 50% of its imports to these areas.
ICEX Spain Trade and Investment is organizing a Spanish pavilion at the 19th edition of Food & Hotel Singapore, one of the main showcases for the food industry across Asia since 1978. Last year it welcomed more than 42,000 visitors from 101 countries, and had 61 national pavilions. In this edition, tasting of wines from the Spanish wineries present at the event will be carried out and an area will be available for food tasting or product presentations. Participation in this fair is a great opportunity for Spanish exporters to explore Asian markets.
Source: Globalasia.com; 2014-04-23
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