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Category: Food

Retail News Asia is committed to providing both local and global retailers with the latest Food and Food & Beverage news throughout the Asian market. This on a daily base.

  • Seafood exports edges up to 2,4Bln

    Seafood exports edges up to 2,4Bln

    Seafood exports rose by 2.8 percent year-on-year in the first nine months of the year to US$2.4 billion, according to the Vietnam Association of Seafood Exporters and Producers.

    Tuna, squid and octopus accounted for the highest proportion of the exports.

    Bivalve mollusk exports soared 39 percent to $99.6 million.

    The five biggest markets for squid and octopus were Korea (accounting for 41 percent), 11 member countries of the CPTPP (24 percent), Thailand (11 percent), EU (10 percent), and China (7 percent).

    In September alone, exports fell by 24 percent year-on-year, after falling by 24 percent in August, due to social distancing restrictions.

    VASEP expects the figure to also decline in October.

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  • Starbucks Korea faces probe over US$153 million in prepaid card takings

    Starbucks Korea faces probe over US$153 million in prepaid card takings

    Starbucks has been the subject of growing speculation as a number of Korean banks express their concerns over the US coffeehouse chain’s potential move into the competitive financial services industry.

    The global chain itself has not announced its plans to edge into financial services, but the booming success of the company’s prepaid gift card and mobile app – which Starbucks announced collectively had $1.56 billion in stored value by the end of 2019 – suggests there is a path emerging for the company to become a bank if it wanted to.

    Despite the enticing $1.56 billion figure, 3,900 US banks have less than $1 billion in total assets according to the Federal Deposit Insurance Corporation (FDIC).

    Starbucks revealed on a recent earnings call that its rewards program in the US had grown to 18.9 million active members at the end of 2019, up 16% year-over-year. “This is important because we know from experience that when customers join our rewards program, their total spend with Starbucks increases meaningfully,” he said on the call.

    South Korea’s Hana Financial Group is acutely aware of Starbucks’ competitive potential. Its chairman Kim Jung-tai said in his New Year address: “Technologies have allowed coffee companies like Starbucks to be our rivals. It will be fine to call Starbucks an unregulated bank, not a mere coffee company.”

    One year prior, South Korea’s KB Financial Group, KB Kookmin Bank and NongHyup Financial Group all mentioned Starbucks in their New Year’s addresses too. “The most-used mobile payment app in the US was the Starbucks app, not Google or Apple Pay,” KB Financial Group’s chairman Yoon Jong-kyoo said last year.

    “About 40% of its payments were made with the app, and the amount of cash loaded onto its prepaid cards and apps surpassed the amount of cash that some provincial banks had,” Jong-kyoo added. Industry experts believe Starbucks might move into asset management through its prepaid cards, as well as into the loan, insurance and currency exchange sectors.

    “Starbucks has been regarded as a fintech firm, not a coffee company, over the past few years,” an unnamed bank official said. “The removal of the word coffee from its signboard also proves this.”

    The coffeehouse partnered with cryptocurrency trading platform Bakkt at the end of last year. In the first half of 2020, Starbucks and Bakkt will test a consumer app “to make it easy for consumers to discover and unlock the value of digital assets”, Bakkt’s chief product officer Mike Blandina said in October.

    These recent movements by Starbucks against the backdrop of its prepaid card success have spurred the Korean financial industry to call for regulators to put controls on the coffeehouse. “Regulations are needed for prepaid service providers to maintain a certain level of capital adequacy ratio,” Hansung University’s economics professor Kim Sang-bong said.

    The global chain has plenty of capital to start up its own bank. According to Statista, its revenue in 2019 was roughly $26.51 billion. With Big Techs such as Amazon, Facbook, Uber and Grab all planting their flag in the space, it seems imaginable that a similarly well-known brand such as Starbucks might be able to do the same.

    But if regulators decide to clamp down on the company in certain regions, then its currently speculative appetites for a financial play could easily be curbed or at least put on hold.

  • Collins Foods strengthens foothold in the Netherlands with KFC

    Collins Foods strengthens foothold in the Netherlands with KFC

    Collins Foods Netherlands B.V. has entered into a share purchase agreement with RDK Holding B.V. and MDK Holding B.V. to acquire nine KFC restaurants in the Netherlands.

    The sellers are the second-largest KFC franchisee in the Netherlands after Collins Foods’ 35 restaurants.

    Once completed, this acquisition will increase the Collins Foods KFC network in the Netherlands to 44 restaurants, or 55% of this market.

    Last week, Collins Foods announced the signing of a Corporate Franchise Agreement (CFA), entered into with a subsidiary of Yum! Brands Inc. (Yum!) for KFC Netherlands. That agreement will allow Collins Foods to fully leverage its experience and operational capabilities for the benefit of both Collins Foods and the KFC brand in the Netherlands.

    This latest acquisition complements the overall direction of the CFA. As existing restaurants, the nine restaurants to be acquired will not count towards the CFA’s target of up to 130 net new KFC restaurants over the next 10 years.

    However, the acquisition provides further scale for Collins Foods in the Netherlands and supports the rollout of new restaurants under the CFA by streamlining the Netherlands’ franchisee structure and enabling access to additional development trade zones for Collins Foods.

    The acquisition consideration of €10.25 million is subject to various adjustments to be made at completion and will be funded from Collins Foods’ existing debt facilities. Completion is expected to be in or around December 2021, and is subject to satisfaction of various conditions precedent including obtaining all relevant government permits to operate the restaurants, and obtaining the consent of Yum! Restaurants International Ltd. and Co. KG as a franchisor of the KFC restaurants.

    The acquisition price was based on pre-COVID revenue of €15.9 million and EBITDA of €1.8 million during the calendar year 2019. Having successfully integrated the eight restaurants acquired in late second half of FY21, Collins Foods is confident of implementing a similar integration for the sellers’ restaurants.

    Commenting on the acquisition, Collins Foods’ Managing Director & CEO Drew O’Malley said: “Today’s acquisition marks another exciting step forward for Collins Foods’ European growth strategy.

    The restaurants we are acquiring are from one of Netherlands’ top KFC operators. It provides us with an opportunity to bring an additional quality network of restaurants into our European business and adds further capability to our team and increased scale to our operations in the Netherlands.

    The acquisition of these nine restaurants increases our presence to 44 KFC restaurants in the Netherlands and going forward, facilitates further growth opportunities.

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  • Yum China opens Digital R&D Center to craft digital strategy

    Yum China opens Digital R&D Center to craft digital strategy

    Yum China Holdings announced the opening of its Digital R&D Center with three sites in Shanghai, Nanjing, and Xi’an. The inauguration of the Digital R&D Center represents an important milestone for the Company’s strategy to build a dynamic digital ecosystem comprised of 1) the Digital R&D Center, 2) joint venturing, and 3) third party collaboration, to provide a solid foundation for Yum China to further develop its brands and businesses, accelerate expansion and capture market opportunities.

    The Digital R&D Center will consolidate and expand dedicated resources to develop new solutions and services using technologies in big data, artificial intelligence (AI), middle office and digital SaaS to drive end-to-end digitalization. The Digital R&D Center will bolster Yum China’s in-house digital capabilities across various functions, such as:

    • Consumer-facing: to improve Super Apps, mini programs and membership programs to provide higher quality service and customer experience.
    • Store operations: to upgrade systems and tools for more efficient operations and decision making, such as our digital tools for restaurant general managers, “Pocket Manager” and “Super Brain.”
    • Smart delivery: to further optimize delivery order queuing, trade zones, and rider routing.
    • Supply chain management: to enhance food safety and streamline operations from farm to fork.

    “Digitalization is one of the key enablers behind Yum China’s resiliency and long-term development as we move toward our next milestone of 20,000 stores,” said Joey Wat, CEO of Yum China. “The Digital R&D Center is an important part of our investment strategy as we apply cutting-edge technologies to digitally transform stores and drive operational excellence.”

    “Evolving consumer behavior, such as increased off-premise dining, and the Company’s accelerated development, place more demand on our R&D capabilities,” said Leila Zhang, Chief Technology Officer of Yum China. “We believe the establishment of the Digital R&D Center will significantly strengthen Yum China’s internal digital capabilities and support sustainable business growth by using advanced technology for real life applications.”

    As a pioneer of digitalization in the restaurant industry in China, Yum China launched a digital program several years ago. With the establishment of the Digital R&D Center, the Company will have more dedicated resources in its restaurant operations for building topnotch digital infrastructure. The Company will continue to cooperate with external partners such as scientific research institutions and other industry leaders to implement leading edge technology.

    Yum China has earmarked $1-1.5 billion of investment over the next five years in digital and technology. As an integral part of this initiative, the Company plans to invest approximately $100-200 million and to employ up to 500 staff in the Digital R&D Center to support the company’s growth over the next five years. The Digital R&D Center in Shanghai, Xi’an and Nanjing will be able to tap into the large talent pool at the top universities in these cities. With additional resources, the Company will further enhance our digital capabilities, as well as accelerate innovations and implementation.

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “aim,” “plan,” “estimate,” “target,” “predict,” “project,” “likely,” “will,” “continue,” “should,” “forecast,” “outlook,” “look forward to” or similar terminology.

    These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved.

    The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations ” in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results.

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  • Haidilao slows rollout as Covid-19 curbs consumer appetite

    Haidilao slows rollout as Covid-19 curbs consumer appetite

    China’s biggest hot pot chain Haidilao is slowing its rollout of new restaurants and increasing diversification of its fare, tempering its rapid expansion during the coronavirus pandemic to cope with a subsequent slump in consumer spending.

    Haidilao, which became so popular in recent years that it appeased customers in hours-long queues for its soups by providing free manicures, snacks and shoe shines, is at the forefront of reckoning in China’s restaurant industry post-pandemic.

    The chain has seen falling table turnover rates and profits as consumers dine out less and new stores cannibalize business at older locations.

    “We will open stores based on market demand, and compared to before, will appropriately slow down our opening pace,” the company said in a written response’ questions about its strategy.

    China’s catering industry shrank 4.5% in August, before recovering for growth of 3.1% last month. Analysts said it will likely remain volatile for some time amid the country’s broader patchy economic recovery.

    “This year, fresh waves of the epidemic happened repeatedly, and passenger flow in commercial areas is volatile, affecting the recovery of core business indicators,” Tianfeng Securities wrote in a research note last month.

    Haidilao was initially undeterred by the pandemic, embarking on an expansion drive in early 2020 that has doubled its outlets since then to almost 1,600 currently. It did so by snapping up sites left behind by vacating weaker players, often helped by deep discounts offered by landlords.

    But that expansion pushed Haidilao’s table turnover rate down to 3.0 – or three sets of customers per day on average – in the first half of this year, from 4.8 in 2019.

    Xiabu Xiabu, another Hong Kong-listed Chinese hot pot chain, has said it plans to shut 200 of its 1,010 stores after losing 50 million yuan ($7.76 million) in the first half of 2021.

    Haidilao’s share price has fallen to around HK$30 from a record high of HK$86 in February.

    “The company will need to create demand going forward, which is more challenging than fulfilling demand,” China Renaissance analysts wrote in an August note.

    DELIVERY AND DRINKS

    To turn its fortunes around, Haidilao has opened more than 10 outlets specializing in fast food such as noodles and dumplings, moving beyond the hot pot, the signature dish of southwestern Sichuan province where the company was founded 27 years ago.

    However, with a maximum of just five stores each and an average spending per guest of 10 to 20 yuan – versus 107.3 yuan for the Haidilao restaurants – the sub-brands contributed just 0.5% to the first-half revenue.

    Haidilao last month closed a potato noodle restaurant less than a year after opening it in the central city of Zhengzhou, without publicly citing a reason.

    In other diversification attempts, the company has opened bars in three of its Beijing restaurants and is promoting its delivery service, a unit where revenue initially rose during the pandemic.

    However, delivery revenue dropped from 409.6 million yuan, or 4.2% of total revenue, in the first half of 2020 to 345.7 yuan, or 1.7% of total revenue, in the first half of 2021.

    “(Eating) hot pot has a strong social feature so people are less likely to order hot pot at home,” said Zhu Danpeng, an independent food industry analyst.

    Haidilao opened a store on Alibaba’s marketplace Tmall several months ago to sell items including lipsticks inspired by its soup bases with names such as “capsicum rouge” and “summer tomato”.

    Zhu said Haidilao’s multi-brands strategy was the right move but the company did not have a lot of room for growth: “Haidilao has reached a certain phase with its development, as a man has reached his middle age.”

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  • Mekong Delta fruit prices surge as travel restrictions ease

    Mekong Delta fruit prices surge as travel restrictions ease

    Jackfruit, longan, and lemon cultivated in the Mekong Delta are fetching two to four times the prices that prevailed when Covid-19 related transport restrictions were in force before Oct. 1.

    Lemons bought directly at gardens are priced VND7,000-8,000 ($0.31-0.35) per kilogram these days, while they were selling for just VND2,000 per kilogram earlier.

    Prices of Thai jackfruit have also surged to VND19,000-30,000 per kilogram. These prices are four times more than the previous four months when travel was restricted.

    Similarly, longan prices have doubled to VND12,000-14,000 per kilogram.

    “Farmers hope to a lot of longan and make a profit when Chau Thanh District (Dong Thap Province) harvests the fruit in about a month,” said Nguyen Van Thuan, a farmer from the district.

    In July, fruit from the Mekong Delta, Vietnam’s agriculture hub, was sold poorly at lower prices as wholesales markets across HCMC close due to Covid-19.

    Mekong Delta contributes 90 percent of the country’s rice exports, 65 percent of seafood exports, and 70 percent of fruit exports.

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  • Paris Baguette arrives in Indonesia

    Paris Baguette arrives in Indonesia

    Erajaya Food & Nourishment (“EFN”) and Paris Baguette of Singapore (“PB”), officially entered into a joint venture partnership through the signing of a Joint Venture Agreement represented by Ms. Gabrielle Halim from EFN and Mr. Jin-Soo Hur from PB.

    Through this partnership, Paris Baguette, the well-loved fast-casual bakery from South Korea, known for its quality, delicious and innovative array of pastries, breads and cakes, officially enters the Indonesian market. The highly-anticipated debut would make Indonesia the fourth country in South East Asia that Paris Baguette would call home.

    Paris Baguette’s entry into the Indonesian market promises to break through the country’s F&B clutter, by offering elevated culinary concepts and a plethora of delicacies, crafted using premium ingredients, guaranteed to satisfy the most discerning taste.

    Gabrielle Halim, CEO of Erajaya Food & Nourishment, stated, “We are honoured to partner with Paris Baguette to expand its footprint in Indonesia. Their commitment to innovation and quality is in line with our vision to become a leading F&B player in Indonesia. We are certain the food lovers in Indonesia will welcome and enjoy Paris Baguette’s fresh concept and unique offerings when we open our first stores shortly.”

    “We are delighted to partner with Erajaya Food & Nourishment, who shares our vision of making the world a happier place through innovative products and by leading with integrity. Together with our partner, we will bring the high-quality treats that we love from Paris Baguette to Indonesia. Our expansion into Indonesia is a part of our globalization strategy.” said Hana Lee, Vice President of Paris Baguette SEA, SPC Group.

  • Baileys launches Apple Pie liqueur in Australia

    Baileys launches Apple Pie liqueur in Australia

    Baileys Apple Pie Liqueur has finally dropped in Australia and it’s here for a good time, not a long time.

    We first heard about this incredible flavor over a year ago – but it was only available in the US. We’re delighted that it’s now hitting Aussie shores!

    From mid-October, you will be able to get your hands on a bottle of this limited-edition treat just in time for the festive months.

    Combining the best parts of the traditional apple pie that we know and love, this new drink offers the familiar velvety qualities of Baileys Original Irish cream and vanilla ice cream, plus a kick of Christmassy warmth with the hint of cinnamon and spices.

    Deliciously versatile, this liqueur can be paired with vanilla ice cream, mixed into your favorite apple-inspired baked goods or simply poured over ice for a festive fix. The possibilities are endless!

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  • Noodle Shop Tamjai SamGor Mixian to launch in Japan

    Noodle Shop Tamjai SamGor Mixian to launch in Japan

    Hong Kong noodle chain Tamjai SamGor Mixian is to expand its international reach with its Japanese debut early next year.

    Marking the brand’s second overseas entry after Singapore, the Japan launch follows its IPO in Hong Kong last week, the proceeds of which will be used to fund its global expansion plan, including its launch in Japan and Australia. The noodle chain aims to double its store network to 330 by 2024, with 25 new Japanese stores and 15 restaurants in Australia.

    “With the support of its major shareholders, Tridor Holdings, Tam Jai International has laid a solid foundation for further overseas expansion,” said Darren Lau, CEO of Tam Jai International. “We will continue to deliver the taste of Tamjai and our unique food culture not only in Japan but all over the world.”

    Beside its signature dishes, the Japan restaurants will also feature toppings dedicated to Japanese customers.

    “We hope that many people in Japan will know the charm of Tamjai SamGor Mixian and develop it as a store that can be used on a daily basis,” said Takaya Awata, President and CEO of Toridoll Holdings Corporation, parent company of Tam Jai International.

  • Treasury Wines warns performance is still lagging in key markets

    Treasury Wines warns performance is still lagging in key markets

    Major winemaker Treasury Wine Estates has warned investors its performance in markets heavily impacted by the pandemic is running behind expectations as lockdowns and soaring case numbers continue to hinder sales.

    Treasury, which makes wine brands such as Penfolds and 19 Crimes, held its annual general meeting on Friday. In a speech, chief executive Tim Ford told shareholders while overall performance through the first quarter of fiscal 2022 was solid, parts of the business were not performing as well as hoped.

    Mr. Ford pointed to the company’s key luxury channels in America, Australia, and Asia where the COVID-19 pandemic is still causing delays in the recovery of wine consumption in bars, pubs, and restaurants.

    He said this issue was particularly prevalent in the US, where re-openings were continuing at a “gradual pace”, slower than the company had anticipated.

    “In Australia extended lockdowns in Sydney and Melbourne have resulted in the closure of the on-premise channel, delaying our execution plans outside of the large retailers, particularly for Penfolds,” he said.

    “While the momentum in these channels is slightly behind, we remain confident that as vaccination programs gain momentum and restrictions ease across these key premium and luxury wine sales channels that we are well-placed to execute our plans to deliver growth.”

    In lieu of these channels being open, online and e-commerce sales have somewhat filled the gap, he said, but noted that growth rates were down last year.

    Shares fell 5.4 percent to $11.63 on the back of the warning. Shareholders had previously been impressed by Treasury’s resilience through both the pandemic and shock Chinese tariffs on its wine. Analysts at UBS recently put a ‘buy’ rating on the stock, saying it was well-placed to benefit from COVID reopenings.

    Treasury has also seen, like many other retailers, significant disruption to its supply chain and logistics systems due to the pandemic. Mr. Ford said shipping delays and container availability issues were becoming “more pronounced” and that he expected the challenges would be ongoing.

    However, the company’s underlying performance in its key regions was solid for the first quarter, with sales in Asia, excluding China, growing 18 percent for the three months to the end of August. Sales at the company’s US divisions grew 3 percent for the three months to September 19 against a broader industry decline of 5 percent.

    “Globally, our underlying business is performing in line with expectations, however, the pandemic-related factors will continue to have a bearing on our performance in the short term,” Mr. Ford said.

    Sales of its premium Penfolds range have also remained consistent, with Mr. Ford saying the company had successfully reallocated all the sales it lost after China, Treasury’s largest market, unexpectedly slapped tariffs of up to 200 percent on Australian wine.

    In his address to shareholders, chairman Paul Rayner said the company remained committed to the Chinese market in the long term despite its “effective closure” in 2019, and appeared to call on the Australian government to do more to repair its frayed relationship with the country.

    “Trust is critical to building relationships and brands and is therefore essential to our long-term success,” he said. “I think this will be particularly important in the post-COVID world, as governments consider how they stimulate domestic economic recovery and the role of international trade relationships in driving economic growth.

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  • Fruit exports to South Korea surge

    Fruit exports to South Korea surge

    Vietnam exported $107.25 million worth of fruit and vegetables to South Korea in the first eight months of this year, up 3.47 percent year-on-year.

    The export value of vegetables and fruit to this market reached $11.1 million in August, up 13.66 percent over the same period last year, according to the General Department of Vietnam Customs.

    Six kinds of Vietnamese fruit have been exported to the Asian market including: coconuts, pineapples, white and red dragon fruit, mangoes and bananas.

    However, the number of fruit exported to South Korea is still low. Banana volume accounts for approximately 2 percent of total imports of the fruit. Meanwhile, the figure of the Philippines is about 75.8 per cent.

    Vietnam’s pineapple volume accounts for 0.62 percent, while the volume imported from the Philippines accounts for 93 percent of the total.

    Vietnam is cooperating with South Korean agencies to open more markets for other fruit like pomelos, lemons, longans, rambutans and Lychees

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  • McDonald’s showcases its China headquarters flagship

    McDonald’s showcases its China headquarters flagship

    31 years ago, McDonald’s opened its first store in China on the 8th of October. 31 years later, the fast-food industry giant announced the opening of a new China headquarters building in Shanghai’s West Bund. It will be home to the company’s over 600 HQ-based employees.

    Zhang Jiayin, McDonald’s China CEO, compares the move of the headquarters to a new journey. The cube-shaped building contains more futuristic elements of McDonald’s: an intensive-style innovation lab, the seventh Hamburger University, and the largest McDonald’s flagship store, which represent the company’s commitment to the Chinese market.

    “The Chinese market will be one of the most important markets in the world, and we will witness more here,” said Zhang Jiayin.

    The flagship store, which opened the same day as the new building was officially launched, is also the company’s first cube-style flagship restaurant in East China and McDonald’s China’s first LEED platinum-certified flagship restaurant. Another highlight is its various cross-over attempts with the CITIC Press Group, including the children’s bookstore and mini-theater.

    The third floor of the building contains McDonald’s in-house training institution, the Hamburger University, which will launch its first class next Monday.

    “The reason why we chose Shanghai is that it is a highland of talents, where you can find the best talents in the country and even the world,” noted Zhang. This year, McDonald’s China has planned over 130 university recruiting events across the country, to support the rapid development of its business. At present in McDonald’s China, employees born from 1995 account for more than 60%, and employees born from 2000 are close to 43%.

    Apart from talented people, the company chose Shanghai for its headquarters as it is a giant test field for cutting-edge concepts, be it light meals or plant-based meat. “It is a base camp radiating the entire market in China. We will continue to develop, continue to expand in scale with brand differentiation, and serve more consumers,” added Zhang.

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  • Pam Pam Buns brings authentic Thai food to Australian supermarkets

    Pam Pam Buns brings authentic Thai food to Australian supermarkets

    An Australian manufacturer of authentic Thai plant-based products, Pam Pam Buns, is releasing a new range of frozen ready meals in October. The meals (RRP $8) are Thai Pork Basil with Rice, Thai Mushroom Noodle, Pork Spring Roll, Pork and Mushroom Dumpling.

    “The new range is our first step to becoming a Thai food company that produces a variety of plant-based meals that are just as delicious as meat-based dishes,” founder Pimarada (Pamela) Watcharadechmontri says.

    Ms Watcharadechmontri, a Thailand-born entrepreneur, founded Pam Pam Buns in 2015.

    She harnessed her love of vegetarian food and Thai heritage by selling her steamed buns to family, friends and local market stalls. Following a wave of positive ‘nice buns’ feedback, she made the bold decision to set up her own factory in Riverstone in North West Sydney.

    Since its launch, Pam Pam Buns has seen exponential growth for its range of delicious Thai buns. After landing its first in-store placement in 2019, Pam Pam Buns has steadily hit the shelves across a selection of major retailers and recently expanded interstate to Victoria, Queensland, Western Australia, South Australia, and Tasmania.

    The brand is currently available online and in more than 170 stores, including select Woolworths Metro, Coles Local, Harris Farm Markets, QE Food Stores, IGA, and FoodWorks across Australia.

    “We partly owe our success to our loyal community of fans, who we treat like our friends and family,” Ms Watcharadechmontri says.

    “They buy, taste and feedback on every single one of our products and we listen. Their excitement for our new product range is what feeds our ambition to continue our business growth.”

    The new product expansion will join the recently released plant-based Thai Massaman, Panang and Green curry pouches and Pam Pam’s bun range in the freezer section.

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  • Kraft Heinz launches frozen vegetarian snacks

    Kraft Heinz launches frozen vegetarian snacks

    Kraft Heinz in collaboration with Oprah Winfrey unveiled a series of new O, That’s Good! Frozen Skillet meals.  This launch is the fourth category from Mealtime Stories, LLC, the joint venture between Kraft Heinz and Oprah Winfrey, which includes refrigerated soups, sides, and frozen pizza.

    The O, That’s Good! brand was inspired by Oprah’s love for nutritious food. The newcomers are said to be comfort foods with a twist of veggies, ready in just 10 minutes. For example, the Chicken Alfredo meal swaps cream in the sauce with pureed cauliflower to bring the fat content down with 35%.

    “Comfort food gets a bad rap, but not anymore. With the new skillets, there’s a twist of veggies in the sauce, but you’d never know the difference,” said Winfrey.

    O, That’s Good! Frozen Skillet Meals (suggested retail price: USD6.99) are available nationwide in six varieties: Chicken Alfredo, Chicken Margherita, Southwest Style Chicken & Penne, Italian Sausage & Rigatoni, Garlic Chicken and Potatoes, and vegetarian-friendly Three Cheese Tortellini. All are made with high-quality ingredients, including antibiotic-free chicken and natural sausage, and have no artificial flavors, preservatives or dyes.

    Kraft Heinz will support O, That’s Good! Frozen Skillet Meals with a robust 360-degree marketing campaign, including a new national TV ad featuring Winfrey.

    Along with skillets, O, That’s Good! is extending its pizza line to include three new frozen thin-crust pizza options (USD6.99) with a twist of cauliflower in the crust: BBQ

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  • Coffee buyers face losses as Colombia farmers fail to deliver

    Coffee buyers face losses as Colombia farmers fail to deliver

    Coffee farmers in Colombia, the world’s No. 2 arabica producer, have failed to deliver up to 1 million bags of beans this year or nearly 10% of the country’s crop, leaving exporters, traders, and roasters facing steep losses, industry sources said.

    World coffee prices have soared 55% this year, mainly due to adverse weather in top producer Brazil, prompting Colombian farmers to default on sales clinched when prices were much lower in order to re-sell the coffee at higher rates.

    “Traders are getting defaulted on, it’s a mess. If the drought continues (in Brazil), 300 cents (per lb of coffee) is possible. It’s going to be mayhem,” said a dealer at a global agricultural commodities trade house.

    He said leading global roasters are planning to change the branding on their ‘single-origin Colombia’ coffees due to sourcing problems.

    Delivery defaults in a major producer like Colombia can exacerbate price spikes on world markets, although these would be temporary because the coffee ultimately exists and will weigh on markets once it is re-sold.

    Colombian farmers say they will deliver the coffee later this year or next but buyers are unconvinced.

    Many are opting to see losses now and write the purchases off as defaults rather than wait and risk even bigger losses if farmers still don’t deliver next year and prices rise further, according to a senior trader at another global trade house.

    He said several global trade houses are looking at losses of $8-10 million each on undelivered coffee, while Colombia’s coffee growers federation FNC, which represents farmers but also accounts for 20% of the country’s 12.5 million bags of annual coffee exports, faces higher losses.

    “There was easily 1 million bags of forwarding (Colombian coffee sales) done before the market started rallying mid-May,” said the senior trader. “If you work for a multinational (trade house) your boss will say come on, we have to take the hit.”

    Delivery defaults in a rallying coffee market are a huge issue for commodity exporters and traders who often hedge physical purchases by taking short positions in the futures market, causing them to sustain steep losses as prices rise.

    Usually, traders would be able to sell the physical coffee they are owed at current lofty rates in order to offset their futures market loss, but in the case of a default, they can’t.

    Defaults can also force traders to purchase supplies pre-sold to roasters at a loss in the pricey spot market.

    FNC head Roberto Velez confirmed that Colombia is facing widespread defaults.

    “I can tell you there are few Colombian exporters not suffering (from defaults). All the major trade houses and also the federation as a major exporter, we’re all suffering (losses),” he said.

    “When a grower doesn’t deliver, the whole chain gets stuck losing money,” he added.

    Traders said the federation has given Colombian farmers at least another year to deliver the coffee – a move that could force the industry body to approach the government for bail-out funds if the farmers still don’t deliver in time.

    A senior Columbia-based coffee trader with Louis Dreyfus Company (LDC) left the company in the wake of losses, two sources with knowledge of the matter said.

    LDC said it does not comment on organizational changes except in relation to executives.

    “Companies will be in trouble with (the scale of the losses), big guys will change their team, but smaller guys will go bankrupt,” said a senior trader.

    He added major local Colombian exporter La Meseta has been hard hit by farmer defaults and is struggling to make good on its supply deals with international roasters, leaving them exposed to losses.

    Selling coffee forward in Colombia has become popular in the last few years, but up until this year, the move had mostly worked out in favour of farmers as world prices drifted lower so farmers received better prices for their coffee on delivery, not worse.

    About 550,000 Colombian families make their living growing coffee and the Andean country is the largest producer of the washed arabica grade on which benchmark futures contracts on the ICE exchange are based.

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