Hybrid food fair pulls in P65.5 million sales for MSMEs

MANILA, Philippines — Micro, small and medium enterprises (MSMEs) generated P65.49 million worth of revenues from the recently concluded hybrid national food fair organized by the Department of Trade and Industry (DTI).

The DTI said the 252 participating exhibitors raised the amount at the event held at the Megatrade Halls of SM Megamall in Mandaluyong City that attracted 25,455 visitors.

Of the total amount, P43.42 million were cash or retail sales, P10.5 million were booked orders, while another P11.57 million are still under negotiation.

The hybrid event provided an online component that allowed at least 70 MSMEs to sell their products through permanent stores on e-commerce platform Lazada.

The DTI said the event is considered as the country’s biggest domestic trade event since the onset of the COVID-19 pandemic.

Through the food fair, MSMEs from the 17 regions were able to showcase their products to consumers in Metro Manila. It also provided opportunities for MSMEs to tap business-to-business matching opportunities.

Among the products featured at the event were snacks, fresh and processed fruits and vegetables, fresh and processed marine products, coffee, packaging and labeling, beverages, cooked food and condiments.

The event was held as part of the DTI’s push for the development of MSMEs that account for 99.51 percent of the businesses operating in the country.

Micro enterprises constitute the bulk at 88.77 percent, followed by  small enterprises at 10.25 percent, and medium enterprises at 0.49 percent.

The sector also accounts for 62.66 percent of the country’s total employment.