Take a bite: Singapore food firms worm their way into world’s largest wholesale market

New food product center launched in Zhejiang.

Singapore’s food industry has staked its claim in the world’s second-largest economy. The Tasty Singapore Food Product Centre opened in the Yiwu International Commodity Trade Mart today, which will sshowcase the country’s food products in the world’s largest commodity wholesale market.

The food product center will allow Singapore’s F&B companies to identify potential channels and distributors, promote their brand in a highly competitive market and navigate customs restrictions.

According to the Singapore Food Manufacturers’ Association, “The Centre will function as a platform to build awareness of Singapore food products through a permanent product showcase spanning in Hall 5 of the Yiwu International Commodity Trade Mart. It will proactively identify and introduce Chinese partners that can work with Singapore F&B companies to grow their market presence through distribution networks.”

Here’s more from the SFMA:

The opening ceremony was officiated by Mr Lim Hng Kiang, Singapore Minister for Trade & Industry, and Ms Liang Liming, Vice Governor of Zhejiang Province and Co-Chairman of the Singapore-Zhejiang Economic and Trade Council (SZETC).

The concept of the Tasty Singapore Food Product Centre was first mooted at the SZETC in 2012, as one of the key areas of collaboration for Singapore and Zhejiang.

Said Mr Yew Sung Pei, Assistant Chief Executive Officer of IE Singapore, “Singapore F&B companies – majority of which are SMEs – often find their resources stretched when venturing into new markets. For F&B companies to succeed in China, brand-building and promotion are as critical as building strong distribution networks. This initiative provides a platform for the industry to collectively promote its products to the market, and can be a particularly valuable resource for an SME navigating China’s highly-competitive consumer market.”