Young Filipinos have a taste for citrus
The Philippines, home to a large demographic of young, educated people, with an appetite for premium imported products, is already shaping as an important market for Australian citrus.
Austrade Business Development Manager, Vanessa Perez, said the economic development has been driven by the expanding Filipino middle class, putting a growing number of people into the income bracket that can pay for premium, quality products.
By 2030, 80% of the Filipino population will belong to the middle class, while income per capita will rise from US$2800 to US$8500 in 2024.
There are an estimated 18-20 million consumers who have an appetite for quality and premium imported products, according to the July 2015 US Gain Report.
Ms Perez said there is also a growing segment of those under 30 demanding quality healthy and convenient products. They are tertiary educated, aspirational and receptive.
Ms Perez said the Philippine market remains a net importer of key agricultural commodities, including citrus.
Filipinos have been eating more fruits, according to Euromonitor Research, which shows a 22% increase from 2008 to 2014.
“China and the US combined make up 80% of the Philippines imported fruit trade, although Australian share is growing,” Ms Perez said.
In 2014, Australia exported 3533 tonnes of citrus to the Philippines, worth US$3.27 million.