The Department of Trade and Industry (DTI) said delegates from Paraguay in a recent meeting discussed export potential for their key agricultural products to San Miguel Foods.
The DTI in a statement on Thursday said Paraguay’s Vice Minister for Investments and Exports Javier Vivero led a delegation to an official visit to the Philippines from February 20 to 21.
During one of the discussions attended by officials of San Miguel Corp., Paraguayan delegates showcased their country’s key agricultural products where San Miguel Foods “expressed particular interest in these commodities,” the DTI said.
“On the prospects from the San Miguel Foods meeting, I think it is too early to tell. But definitely, we see complementation,” said Ceferino Rodolfo, DTI undersecretary, in a text message on Thursday.
“It was more of an exploration discussion,” said Alma Argayoso, assistant secretary at DTI, adding San Miguel mentioned some possibilities on the potential trade partnerships on soybean, pork and beef fats and starch which are key ingredients used in food production.
The DTI statement said San Miguel Foods noted a critical coconut oil shortage in the Philippine market, “signaling a significant opportunity for increased trade partnerships with Paraguay.”
Argayoso said there is an increased demand for exports of coconut oil. The Philippines is one of the biggest exports of coconut oil, shipping $1.17 billion in 2024.
San Miguel Foods could not be reached for comment.
The DTI said the Philippines continues to strengthen its trade partnership with Paraguay, exporting a diverse range of products, from advanced machinery and electrical equipment to high-value agricultural goods like coconuts and Brazil nuts.
In return, the Philippines imports key commodities such as soybean cakes, frozen beef, rice and corn, alongside industrial materials like cables, insulated conductors and insecticides.
There are no available Philippine trade statistics with Paraguay.
