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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.

  • Japan’s biggest sushi chain Sushiro launches first Beijing store

    Japan’s biggest sushi chain Sushiro launches first Beijing store

    Japan’s biggest sushi restaurant chain Sushiro opened its first store in China’s Beijing Wednesday as part of its expansion in the world’s most populated country.

    Its new store, located in the Xidan Joy City shopping mall, has four private rooms, each allowing up to 10 customers, who can order from a touch screen and pick up their food from a conveyor belt, according to Nikkei Asia.

    This is Sushiro’s 45th location in China. It launched the first store in Guangzhou in 2021 and has expanded to several cities since.

    Sushiro, headquartered in Osaka, has over 500 restaurants in Japan. It was founded 30 years ago and is now present in many Asian countries including South Korea, Thailand and Singapore.

    Its competitor Hama Shushi has also been expanding in China and opened the first Beijing store earlier this year.

    China has prohibited the import of seafood from Japan due to the discharge of treated radioactive wastewater. In China, conveyor belt sushi restaurants primarily offer locally sourced seafood.

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  • Vietnam gains approval to export frozen durian

    Vietnam gains approval to export frozen durian

    Vietnam is allowed to export frozen durian and fresh coconuts to China under an official quota, following the signing of protocols between the two countries on Monday.

    These protocols signed by Vietnam’s Ministry of Agriculture and Rural Development and China’s General Administration of Customs in Beijing under the witness of Vietnam’s Communist Party General Secretary and President To Lam and China’s Communist Party General Secretary and President Xi Jinping are expected to increase shipment of the fruits.

    Another protocol that was signed allow the export of Vietnamese crocodiles to China under official quota.

    The protocols, which are key components of the Goods Trade Agreement and took effect immediately upon signing, include specific requirements for animal and plant quarantine as well as food safety.

    The protocols, which integral parts of the Goods Trade Agreement and took effect immediately after signing, consist of specific requirements on animal and plant quarantine and food safety.

    All exporters that have completed necessary procedures and meet the import country’s quarantine requirements can deliver their products across the border.

    Agriculture minister Le Minh Hoan said that the three protocols are the results of negotiations between the two countries, which allows Vietnamese frozen durian and fresh coconuts to reach a market of 1.4 billion people.

    Dang Phuc Nguyen, general secretary of Vietnam Fruits and Vegetables Association, said that the majority of Vietnamese frozen durian has so far been exported to mostly Thailand, the U.S. and Europe with a total value of several hundred million U.S. dollars a year.

    With China opening its door, exports of this fruit will likely surge, he added.

    Last year Vietnam exported 500,000 tons of fresh durian with a total value of $2.3 billion, in which China bought 90%.

    Vietnam now has 154,000 hectares of durian with a total yield of 1.2 million tons, and the latter figure grows around 15% a year.

    The country is also a major exporter of coconuts with 175,000 hectares of the fruit, mostly in the Mekong Delta region.

    With the new protocols signed, frozen durian exports are expected to reach $400-500 million this year, while fresh coconut exports are set to increase by $200-300 million.

    To Lam and his spouse are on a state visit to China from Aug.18-20.

  • Vietnam’s coffee export value rises 31% in 7 months

    Vietnam’s coffee export value rises 31% in 7 months

    Vietnam exported 964,000 tonnes of coffee in the first 7 months of 2024, worth nearly US$3.54 billion, down 13.8% in volume but up 30.9% in value compared to the same period last year.

    The Agency of Foreign Trade under the Ministry of Industry and Trade and the Vietnam Industry and Trade Information Center forecast that Vietnam’s coffee exports in the remaining months of the third quarter would decrease due to low supply.

    Supply will not increase until October, when the 2024-25 coffee harvest begins. Statistics from the Ministry of Agriculture and Rural Development show that the country’s coffee output is estimated at 1.47 million tonnes in the 2023-24 crop year, the lowest level in four years, down 20% compared to the 2022-23 crop year.

    Coffee output in the 2024-25 crop year is forecasted to continue to decrease due to unfavorable weather factors.

    Without including the inventory carried over from the previous year, Vietnam will only have about 200,000 tonnes left to export from now until September.

    However, the Vietnamese coffee industry will benefit in terms of price.

    The Global Robusta coffee prices would fluctuate in a strong and prolonged upward trend due to concerns about scarce supply from Vietnam.

    According to the International Coffee Organization (ICO), the world may face a shortage of Robusta coffee of up to 35 million bags (60kg/bag) by 2040.

  • Philippines spends $1.2B on Vietnamese rice in H1

    Philippines spends $1.2B on Vietnamese rice in H1

    Rice was the Vietnamese product with the highest export value to Philippines in the first six months of 2024, with a turnover of $1.2 billion, up 41% over the same period last year.

    According to data from the Vietnam Trade Office in the Philippines, Vietnamese rice has been leading the market in the Philippines, Vietnam’s largest rice export partner, for many years.

    In June, the Philippines reduced rice import tax from 35% to 15% until 2028, and is expected to increase import volume from 4 million to 4.5 million tons. This is deemed a great opportunity for Vietnamese rice in the second half of the year.

    However, although rice export opportunities are expanding, many businesses are still cautious due to high input prices and the impact of storms that could reduce rice supply at the end of the year.

    The Vietnam Trade Office in the Philippines recommends that businesses need to balance costs to offer competitive prices and maintain market share. At the same time, the Ministry of Industry and Trade, the Embassy and the Vietnam Trade Office will also support businesses in trade promotion activities, advertising and improving product quality to increase export value, it said.

    Last year, Vietnam exported more than 3 million tons of rice to the Philippines, down 3% compared to 2022. However, thanks to the increase in prices, export turnover reached $1.75 billion, up 17.6% compared to the previous year.

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  • Durian exports to top $3B in 2024

    Durian exports to top $3B in 2024

    Durian exports are forecast to surpass US$3 billion this year, according to the Vietnam Vegetable and Fruit Association (Vinafruit).

    Vietnam earned more than $1.3 billion from shipping durian abroad in the first six months of 2024, up 40% year-on-year.

    China has to date licensed over 700 growing area codes and nearly 200 packaging codes for Vietnamese businesses to export the fruit to this market.

    Vinafruit said a protocol on the official export of frozen durian to China is being promoted and likely to be announced soon.

    China spends about $1 billion on importing frozen durian every year. If Vietnam can export this type of product via the official channel to the neighboring market and hold a 30% market share, it can earn some $300 – 500 million in revenue, equivalent to about 10% of this year’s estimated durian export turnover.

    Vietnam harvests durian all year round, which gives the country’s businesses a competitive edge. This year, however, durian prices are likely to surge twice or thrice compared to current prices as traders rush to purchase the fruit for export.

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  • Chinese mangoes sell for 20-30% cheaper than local varieties

    Chinese mangoes sell for 20-30% cheaper than local varieties

    Mangoes imported from China are selling fast in wet markets in HCMC for VND40,000-50,000 (US$1.58-1.98) per kilogram, 20-30% cheaper than local products.

    This year, traders are importing a new type of mango from China that resembles a crow’s beak, in addition to the usual varieties.

    Thanh, a fruit seller, said she has been selling up to 100 kilograms of the new product per day.

    Hang, who runs a fruit stall on Go Vap District’s Pham Van Chieu Street, noted that she procures about 30 kilograms of various Chinese mangoes daily, often sold out by noon.

    Nguyen Binh Phuong, the company’s sales director that runs the city’s Thu Duc Agricultural Product Market, said the wholesale market has imported 631 tons of Chinese mangoes.

    Thanh, a wholesaler in HCMC’s Thu Duc City, said that imported mangoes are attracting buyers due to their variety and competitive prices.

    “With low prices and good quality, Chinese mangoes are popular due to their eye-catching color and flavor. I wholesale dozens of tons every day,” she said.

    Loan, a mango farmer in Dong Thap Province, explained that Vietnamese varieties are more expensive this year due to lower output.

    Demand in export markets is rising, so businesses are also purchasing more local mangoes, driving up prices, she said. Prices are expected to stabilize in September when the new mango season begins.

    According to the General Department of Customs, Vietnam imported $400 million worth of fruits from China in the first half of 2024, up 28% year-on-year, with mangoes, plums, apples, and pears seeing a huge surge in imports.

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  • Saigon beer company reports 6% profit increase in first half

    Saigon beer company reports 6% profit increase in first half

    Sabeco has reported a slight profit increase to VND2.3 trillion ($90.85 million) within the first half of 2024.

    According to its latest financial report, the beverage company reported a 6% increase in profit from the first half of 2023, earning an average of VND12.9 billion per day.

    Business in the second quarter this year was better than the same period in 2023, with a profit at VND1.319 trillion, a 9% increase. It was also the second consecutive quarter where Sabeco saw a recovery to its profit.

    The company’s management board said policies for alcohol level control have been implemented in the first half of this year, with the company seeing tough competition in the market.

    But thanks to the recovering economy and positive impacts of increased sale prices, the company’s revenue within the first six months saw a slight increase of 5% to around VND15.27 trillion.

    Higher profit could also be attributed to lower sale costs, with Sabeco cutting sale costs by 14% to VND1.744 trillion, mostly in advertisements and employee discounts.

    However, the board still anticipated the beer industry to be stormy this year, as people tighten their budgets and input costs remain high. Alcohol level control policies, along with proposals to increase special consumption tax, will force the company to improve on its commercial activities and supply chain effectiveness, as well as cut costs, the brewer said.

    Sabeco aims for full-year 2024 revenue to reach VND34.4 trillion and profit to reach VND4.58 trillion, an increase of 13% and 8% respectively. After six months, the firm has reached just under half of its intended revenue goal, and just over half of its profit goal.

    However, the board added it would take a few more years before revenues could return to pre-pandemic levels.

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  • Fisheries exports grow by 6% in H1

    Fisheries exports grow by 6% in H1

    Vietnam’s fisheries exports in the first half of 2024 were worth US$4.4 billion, up 6% year-on-year on higher demand in major markets like the U.S., China and the EU.

    The Vietnam Association of Seafood Exporters and Producers’ latest report said key items such as shrimp, pangasius, and tuna did well.

    Pangasius accounted for $918 million and tuna for $472 million, up 5% and 23%. Shrimp fetched $1.6 billion, a 6% increase, while exports of other crustaceans jumped by 75% to $125 million.

    The U.S. and EU imported 18% and 56% more tuna. Shrimp exports to China and the EU rose by 17% and 13%.

    Top shrimp exporter Minh Phu said profits for the first half were VND7.2 billion (US$284,000) as against a loss of VND98 billion in the same period last year.

    Its CEO, Le Van Quang, said the company has been receiving more orders than last year and is planning to boost exports to China, Japan, South Korea, Australia, and New Zealand.

    Businesses are optimistic that seafood exports, especially of green and sustainable products, will grow even more in the coming months.

    But the seafood association said some challenges remain, such as fierce competition from Ecuador and India, rising transport costs and a shortage of raw materials for processing.

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  • Durian exports rise by 45% in first half

    Durian exports rise by 45% in first half

    Vietnam exported US$1.32 billion worth of durian in the first six months of 2024, up 45% year-on-year, according to customs data.

    It accounted for 65% of all fruit exports during the period and is growing increasingly popular in many key markets.

    China was the largest importer, accounting for over 92% of Vietnam’s durian exports.

    Its imports increased by 46% from the same period last year.

    Thailand was the second largest market for Vietnamese durian, with shipments increasing by 90.5% to $47 million.

    Exports to Japan doubled from a year ago to $2.6 million. Cambodia bought $1.6 million worth of the fruit from Vietnam, a 23-fold increase.

    Currently the monthong variety is the most favored for its taste, aroma, small seeds, firm texture, and longer shelf life.

    Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, expected durian exports to skyrocket in the second half, fueled by the harvest of the fruit in the Central Highlands from July to October.

    Furthermore, Vietnam and China have wrapped up negotiations and will soon sign a protocol for the export of frozen durian.

    With all this in the works, Nguyen expected exports for the year to hit $3 billion.

    But there are challenges, he said, with some shipments to China recently being flagged for containing banned substances.

    Vietnamese authorities have been discussing the issue with their Chinese counterparts and investigating the cause.

    Inspections have indicated that the contamination did not occur at orchards, and so traders, packaging facilities and exporters have been urged to strictly comply with quality control regulations.

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  • Export permit hurdles for Malaysia’s fresh durian shipment to China

    Export permit hurdles for Malaysia’s fresh durian shipment to China

    Malaysia is preparing to deliver its first shipment of fresh durians to China, but obtaining approved permits might be difficult for exporters and farmers.

    Malaysia was granted permission to export fresh durians to China under a phytosanitary protocol signed on June 19 during Chinese Premier Li Qiang’s visit to the country.

    However, while the protocol gave the country the green light to export fresh durians, the actual export date was not confirmed, according to Malaysia’s national news agency. Earlier this month, Malaysia’s Agriculture Department director general, Nor Sam Alwi, noted the country is preparing to deliver the first 1,000 tons of fresh premium durians to China, but the export agreement has yet to be finalized.

    “We expect (it exported in) October but everything depends on the speed and approval from the General Administration of Customs of the People’s Republic of China (GACC)

    While Malaysian farmers are eager to capitalize on the durian market, they must wait until September for their applications for approved permits to be reviewed by China’s customs.

    But getting a permit is not just about waiting, as farmers and exporters must also meet the strict requirements set by China.

    “China requires a certain quantity and quality before accepting the fruits,” Food Security and Cooperative Development Committee chairman Fahmi Zainol said. “There needs to be enough quantity of the same ‘brand’ (type) of the fruit, but Penang farmers who have a mixed variety of durian species face difficulties in fulfilling this (requirement).”

    Durian farmer Tan Chee Keat, who has been exporting fresh durians to China for eight years under a special approval, added that they must also adhere to GACC’s many protocols and fulfill hazard analysis and critical control point procedures for food safety management.

    “It is not easy and not many farms here can do so.”

    Malaysian durian expert Lim Chin Khee said that the country’s current production of fresh durians is sufficient to export to China, but maintaining the fruit’s quality, especially during transport, might be a challenge.

    “Ensuring the freshness of durians during transport requires robust cold chain logistics infrastructure, which may necessitate significant investment and coordination,” he noted.

    Abdul Rashid Bahri, director general of Malaysia’s Federal Agricultural Marketing Authority, said that approximately 70 packing centers across the nation are currently under review by the Agriculture and Food Security Ministry.

    Additionally, over 200 durian farms that meet national agricultural standards are seeking to undergo the auditing process to become eligible for export, he added.

    Before the signing of the protocol, Malaysia had been selling durians as pulp, paste, and frozen whole fruit to China.

    Last year, it exported RM1.19 billion (US$252.2 million) worth of durian to China, making the country its key market.

  • Cheap imported meats flood market

    Cheap imported meats flood market

    Some 304,850 tons of meat and meat products were imported in the first five months of 2024, up 29% year-on-year, at an average price of VND46,000 (US$1.8) per kilogram.

    According to data from the Agency of Foreign Trade, they shot up in May to 76,120 tons worth $140 million, up 32.1% from a year ago in volume and 28.6% in value.

    India, the U.S., Russia, Poland, and Brazil are Vietnam’s top suppliers.

    In HCMC, imported frozen pork is 30-40% cheaper than local products.

    Thanh Hoa, owner of a meat import business in the city’s Tan Binh District, said prices of Vietnamese pork are rising.

    The Animal Husbandry Association of Vietnam warned that cheap imports could pose unhealthy competition to domestic products and affect consumers’ health if they are of low quality.

    It called on authorities to tighten control over meat imports to protect both consumers’ health and the local industry.

  • Vietnamese rice exporter rejects ‘price inflation’ allegation amid corruption scam in Indonesia

    Vietnamese rice exporter rejects ‘price inflation’ allegation amid corruption scam in Indonesia

    Vietnamese exporter Tan Long Group has refuted an allegation by an Indonesian civil society organization that it sold rice to that country at much higher than market prices.

    According to the Vietnam Trade Office in Indonesia, the People’s Democracy Study (SDR) recently complained to an Indonesian corruption watchdog that the government bought Vietnamese rice at “inflated prices,” which indicates corruption.

    The National Logistics Agency (Bulog) and National Food Agency are the two government entities accused of wrongdoing.

    Tan Long Group allegedly sold 100,000 tons of rice to Indonesia in May at US$538 per ton, 18% higher than market rates, according to SDR.

    SDR claimed that since Indonesia imported 2.2 million tons of rice in the first five months of this year – from various sources — the estimated loss to the country was around $180.4 million.

    Tan Long Group has rejected the allegation, with a spokesperson telling VnExpress that it has never won any bid to sell directly to Bulog.

    It did win a bid in January to export to Indonesia through a partnership with South Korean company Posco, but the price was $620 and the delivery took place in April, not May, the spokesperson added.

    Another Vietnamese rice exporter, Loc Troi Group, also rejected the allegations.

    Loc Troi won a bid in May to sell 100,000 tons to Bulog, but at $563 per ton, which was below the market rate at the time, it said.

    Exports to Indonesia remain unaffected by the allegations, it added.

    But the Vietnam Trade Office in Indonesia has warned that the allegation could affect Vietnam’s rice exports to Indonesia in the second half of the year.

    If Indonesian authorities decide to start an investigation, they would stop importing from Vietnam for some time, it added.

    Vietnamese customs data shows $444 million worth of rice has been exported to Indonesia this year, up 82.1% year-on-year.

    In volume terms, it was up 44.6% to 712,400 tons.

    Indonesia accounted for 15.4% of Vietnam’s exports, and was the second biggest buyer behind the Philippines.

    Indonesia expects to import 5.18 million tons this year, up from an earlier forecast of 3.6 million tons.

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  • Wedderspoon sale to anchor New Zealand food business

    Wedderspoon sale to anchor New Zealand food business

    Investment firm Masthead, has acquired New Zealand Manuka honey brand Wedderspoon Organic, and plans to consolidate its brand portfolio into a new company, Florenz, with Mike Tod to take the helm as its CEO.

    Florenz also owns New Zealand-based vitamins and supplements exporter Xtend-Life Group, ingredients manufacturer Dry Food New Zealand, and blackcurrant-based sports performance supplement exporter, 2Before Performance Nutrition. It also holds a cornerstone shareholding in the New Zealand herbal remedies company Harker Herbals Products.

    “Through Florenz, we have started assembling and growing a complementary series of businesses,” said Tod.

    “We believe in the ability of Kiwis to compete and win on the global stage and have installed an outstanding team at Florenz with deep global experience,” said Tod.

    Established in 2006, Wedderspoon Organic is one of the largest distributors of New Zealand-sourced Manuka Honey products in North America. Its range includes honey lozenges, drops, apple cider vinegar, and throat sprays.

    The move aims to expand the company’s presence in North America, leveraging Wedderspoon’s existing distribution network in over 23,000 retail stores, including major outlets such as Walmart, Costco, and Whole Foods.

    “We are privileged to become the new custodians of the Wedderspoon brand and to support the growth of the New Zealand Manuka honey industry by building more global awareness of this incredible natural product,” concluded Tod.

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  • Kellanova launches Pillows product

    Kellanova launches Pillows product

    Kellanova is expanding its Kellogg range with Kellogg’s Coco Pops Pillows Choc Brownie flavour.

    According to the brand, Kellogg’s Coco Pops Pillows have a different taste profile from the original Kellogg’s Coco Pops, with the new Choc Brownie filling producing a “rich and powerful” chocolate flavour.

    “Kellogg’s Coco Pops Pillows bring a cheeky twist to the beloved Kellogg’s Coco Pops range, offering Aussies a bold new breakfast experience,” said Natasha Sunderland, marketing manager of kids & family brands, at Kellanova ANZ.

    Kellogg’s Coco Pops Pillows will be available nationwide at Woolworths and Coles from this week, and at certain independents in early October, with an RRP of $7 for a 310g pack.

  • Rice export prices surge in H1

    Rice export prices surge in H1

    According to data from the General Department of Customs, the average rice export price increased by over 18% over the same period last year.

    The grain was sold at US$959 per ton in Brunei, $868 in the US, $857 in the Netherlands, $847 in Ukraine, $836 in Iraq, and $831 in Turkey.

    The Vietnam Trade Office in the EU said Vietnam’s specialty fragrant rice varieties such as ST25, ST24, Nang Hoa, and OM are favored in the market thanks to their standout quality, leading to their high prices there.

    In the first half, Vietnam’s rice exports reached 4.7 million tons, a rise of 10.4% year-over-year, and its export turnover reached nearly $3 billion, up 32%.

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