PHL Exporters Urged to Explore Sweden’s Booming Food Market

Manila (PNA) — Philippine exporters are urged to explore the booming food market in Sweden.

Department of Foreign Affairs (DFA) International Economic Relations undersecretary Laura del Rosario mentioned that there is a notable increase in sales of organic food and food products in Sweden in 2014 surging by 38 percent.

Sweden’s organic food and food products revenue in last year reached 15.5 billion Swedish kroner (SKr) or around USD 1.8 billion from SKr11.2 billion or USD 1.3 billion in 2013.

“(The increase in sales) is more than anywhere else in the world,” del Rosario noted.

She cited that market value of organic food in Sweden has also grew at around SKr4.0 billion. In the past seven years, organic food market value only increased at an average of SKr1.0 billion.

Philippine exporters can also utilize the European Union Generalized System of Preference Plus (EU GSP+) in tapping Sweden as the latter is a member of EU.

The EU GSP+ provides zero duty to 6,274 products entering the EU market.

Del Rosario mentioned that the trend in organic food and food products are also seen in other Scandinavian countries. (PNA) JBP/KMC