Philippines: Food Processing Ingredients
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The rapidly expanding processed food and beverage sector in the Philippines presents robust opportunities for U.S. exporters of agricultural raw materials and high-value ingredients. The industry’s gross value-added output reached $35.8 billion in 2019, up 39 percent over the past five years. That being said, the immediate focus of food manufacturers and the Philippine economy more broadly is handling the outbreak of COVID-19. The Philippine government has implemented an enhanced community quarantine throughout the island of Luzon, affecting half the country's population and many of its food manufacturers. The Philippine Chamber of Food Manufacturers has acknowledged that there could be gaps in operations as the country adjusts to movement restrictions and that the top food suppliers have up to a month's worth of current stocks.
