BusinessPostCorner.com
No Result
View All Result
Thursday, June 19, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

The hard sell for British food in Asia

May 9, 2024
in Business
Reading Time: 2 mins read
A A
0
The hard sell for British food in Asia
ShareShareShareShareShare

In fact, the UK delegation in Singapore told the BBC they were only able to attend because they paid out of their own pockets.

“Since 2019, we’ve received no government money whatsoever to help us come to these kinds of shows,” says Karen Beston from the Food and Drink Exporters Association.

“It makes it very difficult to stand out against the other European groups or other world groups that are almost fully funded by their respective governments,” she adds.

When this was put to the UK government by the BBC, the Department for Environment, Food & Rural Affairs (Defra) said: “Promoting the interests of our farmers and food producers is a priority of our trade policy”.

Defra also pointed out that – although suppliers do not receive any direct public money to help them attend trade shows – last year it spent £1.6m on events to promote sales of British food, such as tastings and networking opportunities.

Currently, the UK exports £3.5bn ($4.4bn) worth of food and drink to Asia, which is an increase of 18% since 2019. This is proof, British ministers would say, that Britain’s status as an “independent trading nation” has benefitted the country’s businesses since it left the European Union.

But in that same period, Italy’s exports to Asia grew by 36% to €6.1bn (£5.2bn; $6.6bn).

“Having a supportive government is definitely important,” says Italy’s Ambassador Brandi.

“But a major advantage we enjoy, along with other EU states, is the free trade agreements we have with many important Asian countries,” he adds.

Nevertheless an opportunity – whether golden or not – does exist for British producers in the wake of Brexit.

More than 60,000 people visited this year’s event in Singapore. By the start of the next decade, analysts estimate people in Asia will spend $8tn annually on food.

“The potential is huge,” says Japnit Singh, chief operating officer at Spire Research and Consulting in Singapore.

“A few years ago, it was very local food-centric here. I used to say that would never change, but I was wrong. We’re seeing a transformation in habits – people want to eat western food and they’re willing to pay for it,” he adds.

According to Mr Singh, rising incomes, increased travel and – crucially – social media have helped make the Asian palate increasingly adventurous.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Caramelized garlic steak in salads and protein bowls raises carbon-neutral concerns

Next Post

Three people shot at Super Bowl parade grapple with bullets left in their bodies

Next Post
Three people shot at Super Bowl parade grapple with bullets left in their bodies

Three people shot at Super Bowl parade grapple with bullets left in their bodies

Poundland plans 68 store closures putting more than 1,000 jobs at risk

Poundland plans 68 store closures putting more than 1,000 jobs at risk

June 17, 2025
Netflix strikes landmark deal with France’s TF1 to show traditional TV

Netflix strikes landmark deal with France’s TF1 to show traditional TV

June 18, 2025
Trump signs order confirming parts of UK-US tariff deal

Trump signs order confirming parts of UK-US tariff deal

June 16, 2025
Why it has one of the most digital governments

Why it has one of the most digital governments

June 16, 2025
On the move: KPMG elects next Americas chair

On the move: KPMG elects next Americas chair

June 13, 2025
Can Israel destroy Iran’s nuclear sites?

Can Israel destroy Iran’s nuclear sites?

June 13, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

M Hack, M Buy: Bitcoin Price Faces Pressure, Finds Support

$90M Hack, $20M Buy: Bitcoin Price Faces Pressure, Finds Support

June 19, 2025
Nvidia and the AI boom helps Malaysia’s Nationgate debut on the Southeast Asia 500 with a 720% revenue surge

Nvidia and the AI boom helps Malaysia’s Nationgate debut on the Southeast Asia 500 with a 720% revenue surge

June 19, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!