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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 to key markets rise 64%

    Seafood exports to key markets rise 64%

    Vietnam’s seafood exports rose by 64% year-on-year in January to nearly US$750 million, with shipments to China, the U.S. and the EU seeing sharp increases.

    Exports to China tripled, the Vietnam Association of Seafood Exporters and Producers (VASEP) said without providing specific figures.

    It said China, including Hong Kong, is Vietnam’s second biggest seafood market after Japan.

    Exports to Japan rose 43%. The increase were 63% to the U.S. and 34% to the E.U.

    But exporters said challenges that could hamper their recovery persist.

    Shrimp companies said global demand remains weak and therefore prices are low, they still have large inventories and are having difficulty competing with their Indian and Ecuadorian rivals.

    Diseases are also hitting shrimp output, they added.

    Pangasius prices increased by 11% to VND29,000 per kilogram in January.

    They expect a 10% increase in exports to $2 billion this year.

    VASEP said seafood exporters in general are facing difficulties due to geopolitical tensions in the Red Sea and the Russia-Ukraine conflict, which have caused shipping costs to soar.

    VASEP expects seafood exports to increase marginally to $9.5 billion this year.

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  • Yum Restaurants India to sell stake in local Yum Brands franchisee

    Yum Restaurants India to sell stake in local Yum Brands franchisee

    Yum Restaurants India is reported to have sold its 4.4 per cent share in Devyani International for US$105 million.

    Devyani International, from which Yum Restaurant acquired the stake in 2021, is the main franchisee of Yum Brands in China, operating KFC, Pizza Hut and Taco Bell.

    SBI Mutual Fund (MF), Axis MF, Franklin Templeton MF, Nippon India MF, and Goldman Sachs are among the investors in Devyani International’s stock.

    Devyani is planning to push the expansion of these brands, strengthening its growth strategy in FY24 by purchasing 274 KFC restaurants in Thailand, marking its first foray into Thailand’s quick-service and limited-service restaurant markets.

    The business also plans 2000 stores across the globe by the end of this year, ahead of the previous target date of 2026.

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  • Pepper prices rising in Vietnam

    Pepper prices rising in Vietnam

    Pepper prices rose in the central highlands and southern Vietnam 3.6% to VND86,000 ($3.50) per kilogram on Monday as sinking supply fuels higher demand, according to the Vietnam Pepper Association.

    Climbing prices were recorded in the central highlands provinces of Dak Lak and Dak Nong, as well as the southern provinces of Ba Ria – Vung Tau and Binh Phuoc, near Ho Chi Minh City.

    The association has reported that Vietnam’s pepper production is set to fall 10-15% to 160,000-165,000 tons this year.

    Prices are therefore expected to rise even further to around VND100,000.

    Indonesian black pepper prices are now around $3,906 per ton, while Malaysia’s Kuching ASTA price is at $4,900.

    Global demand is set to fall this year due to geopolitical tensions, experts have predicted.

    The Vietnam Pepper Association targets a pepper and spice exports of around $2 billion next year, equivalent to about 400,000-500,000 tons.

    Last year the country exported 267,000 tons of spices worth $912 million, up 16.6% in volume, but down 6% in value.

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  • China’s Cotti Coffee launches in Australia

    China’s Cotti Coffee launches in Australia

    Chinese coffee chain Cotti Coffee has made its Australian debut with a takeaway outlet in Sydney.

    The store, located in the Cabramatta neighbourhood, offers a wide range of beverage selections including rice milk, coconut, and grapefruit-infused coffee.

    Cotti Coffee, founded in October 2022 by former Luckin Coffee executives Charles Lu and Jenny Qian, currently has over 6000 outlets in China and has expanded into 11 international countries.

    Prior to the Australian launch, the brand opened its first stores in different markets including Thailand, Vietnam, Malaysia, the Philippines and Singapore.

    The chain Cotti operates both single-store and regional franchise models in international markets.

  • Expert claims 90% of honey in Malaysia is artificial

    Expert claims 90% of honey in Malaysia is artificial

    According to Zulkifli Mustafa, a senior lecturer at Universiti Sains Malaysia (USM), up to 90% of honey available in Malaysia is not genuine.

    “The biggest challenge of the honey industry now is the presence of artificial honey, which reaches 90% in the market,” honey expert Mustafa was quoted.

    The fake product includes stingless bee honey. Mustafa’s research emphasizes the nutritional value of honey produced by stingless bees, noting its potential health benefits. This variety of bees employs biting as a means of defense rather than stinging.

    Following these revelations, the Domestic Trade and Cost of Living Ministry has announced plans to investigate the allegations that a significant portion of honey products sold in the country are counterfeit/

    Datuk Armizan Mohd Ali, the Minister for Domestic Trade and Cost of Living,has directed the ministry’s enforcement division to examine these claims thoroughly.

    This news emerges amidst a broader context of food adulteration concerns. The European Commission’s recent study found that nearly half of the honey samples tested were suspected to be adulterated with inexpensive sugar syrups, as reported by The Guardian in March 2023.

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  • PepsiCo makes new leadership appointments across ANZ

    PepsiCo makes new leadership appointments across ANZ

    PepsiCo has appointed Kyle Faulconer – its current CEO for Australia and New Zealand (ANZ) – to a wider role, including responsibility for IndoChina Foods.

    Faulconer moved from the US in 2021 to join the company as its new leader in the ANZ market. According to Wern-Yuean Tan, chief commercial officer and CEO for Apac at PepsiCo, Faulconer’s leadership over the past two years has helped drive the company to new heights.

    “Kyle has identified new growth platforms that have enabled portfolio and channel expansion, as well as stronger capabilities, including marketing transformation and demand acceleration,” said Tan.

    “With a people-first approach, Kyle has also personally invested significant time into talent development, empowering teams and facilitating growth opportunities.”

    The company has also made two new GM appointments to support Faulconer’s promotion.

    Alexa Horley, CCO for PepsiCo Australia, has been named GM of Australia Foods and has end-to-end responsibility for the food business.

    Horley has an 18-year tenure at PepsiCo and has held various leadership positions locally and in Asia. In her most recent role, she has led the commercial agenda, delivering strong category growth and business expansion, transforming commercial capabilities – including the digital and data agenda – and accelerating e-commerce.

    Stephan Anderson, current CFO for PepsiCo ANZ, has been given an additional role as GM for ANZ Beverages.

    In his new role, Anderson will lead the finance functions across ANZ Food and Beverages and will be responsible for the entire beverages business.

    Anderson joined PepsiCo in 2022 and has helped transform its finance function by introducing innovative digital solutions and elevating its partnering capabilities.

    The company added that Anderson played a pivotal role in the beverage business by improving relationships with bottling partners and successfully launching Bubly last year, the first brand PepsiCo has launched since it began operations in Australia.

    “Alexia and Stephan are valuable members of our leadership team, and I am thrilled that they have taken up their new roles,” shared Faulconer.

    All appointments are effective immediately.

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  • Vietnamese durian and coffee farmers see unprecedented profits in 2023

    Vietnamese durian and coffee farmers see unprecedented profits in 2023

    The record prices of durian, coffee, and rice in 2023 brought significant profits to farmers in the Central Highlands and the Mekong Delta.

    Thoai, a garden owner in the Mekong Delta province of Can Tho, stated that durian farmers had never had a bumper harvest like last year.

    The price of this fruit remained high during the peak season, reaching up to VND140,000 (US$5.73) per kilogram at times. For the first time in over a decade, he earned a profit of several billion dong from selling durians.

    The high demand is continuing through 2024. In the days leading up to this year’s Lunar New Year holiday, which lasts from Feb. 8-14, many gardens in the Mekong Delta were busy harvesting off-season durians for export to China, where many people use durians as gifts for the holiday.

    Each five-kilogram durian could be sold for nearly VND1 million ($41), equivalent to about VND200,000 per kilogram.Not only in the Mekong Delta, but durian farmers in the Central Highlands also made a large profits last year due to the continuously peaking prices of this fruit.

    Cuong, a garden owner in the region’s Dak Lak province, reported earning VND120 billion after harvesting 40 hectares of durians.

    2023 was a bumper year for the key agricultural crops of Dak Lak Province, according to Vu Duc Con, deputy director of the Dak Lak Department of Agriculture & Rural Development.

    Specifically, thanks to good prices of durians, the province earned about VND12,000 billion after harvesting 200,000 tons.

    Another agricultural product that brought in huge revenue and helped farmers “change their lives” last year was coffee.

    Hoa, from the Central Highlands province of Kon Tum, said her family harvested seven tons of coffee beans in 2023.

    With a highest-ever selling price of VND76 million per ton, her family earned more than VND530 million last year. After deducting costs, she made a profit of over VND200 million, she said.

    Thoai, Cuong, and Hoa are not the only farmers who had a year with “never-seen-before profit.”

    “2023 was the brightest year for the export picture of the agricultural sector,” said Dang Phuc Nguyen, Secretary-General of the Vietnam Fruit and Vegetable Association.

    According to him, agriculture continued to affirm its position as a pillar of Vietnam’s economy, with the export value of agriculture, forestry, and fisheries exceeding US$53 billion.

    Some agricultural products set historic peaks, including fruits and vegetables exports, which surged 70% year-on-year, bringing in more than $5.6 billion, with durians, bananas, jackfruits, longans, and watermelons recording an increase of up to four times compared to the same period.

    Rice exports also increased by more than 36% in value.

    “Vietnamese agricultural products broke through in export turnover and price, even as the domestic and global economy declined,” said Nguyen.

    The high global demand for food, along with many fruits being officially exported to the vast market of China, helped Vietnamese agricultural products increase in value and quality, he said.

    China is also the largest import market for many Vietnamese agricultural products, at $11.5 billion last year, of which durians alone accounted for more than $2 billion.

    Besides durians, 13 other agricultural products have been officially exported to this market, such as bird’s nests and their products, sweet potatoes, dragon fruits, longans, rambutans, mangoes, jackfruits, and watermelons.

    Similarly, rice also brought a bumper harvest to farmers.

    In previous years, countries like Indonesia, Chile, Ghana bought Vietnamese rice in dribs and drabs, but increased their purchases several times over in 2023. Indonesia moved from the eighth- to the second-largest buyer of Vietnamese rice, after the Philippines last year.

    The Ministry of Agriculture & Rural Development’s 2024 forecast suggests that Vietnamese agricultural products will continue to achieve many successes since the U.S., China, and many Middle Eastern countries favor Vietnamese agricultural products.

    The impact of El Nino is expected to reduce the global food supply, presenting an opportunity for Vietnamese agricultural products like rice, durian, and coffee.

    For instance, China continued to purchase Vietnamese durians at high prices as Vietnam is the only country with off-season fruits. For rice, seven Vietnamese enterprises won bids to supply 300,000 tons of rice, accounting for 60% of the amount of rice Indonesia wants to import in early-2024, earlier this month.

    However, the export of agricultural products also poses many challenges that require solutions from authorities.

    “Agriculture is still developing sporadically, small-scale, and spontaneously in Vietnam,” said Minister of Agriculture & Rural Development Le Minh Hoan.

    “So, authorities, associations, and businesses need to engage with farmers from the beginning to provide them with enough information, so that they can adjust production.”

    Minister Hoan also mentioned that the implementation of planting area codes has only been at a promotional level currently. The ministry will make it mandatory for farmers to comply soon.

    “Everything must meet standards and regulations to avoid the situation of spontaneous agricultural development,” he said.

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  • Vietnam’s coffee export value doubles in January

    Vietnam’s coffee export value doubles in January

    Vietnam shipped 230,000 tonnes of coffee abroad in January, earning $623 million, up 61.6% in volume and 100.3% in value year-on-year, according to the Ministry of Agriculture and Rural Development.

    In the last days of the Year of the Cat, the average coffee price in the Central Highland provinces continued to increase compared to the previous week. Coffee is being purchased at prices ranging from VND78,200 – 79,400 ($3.2-3.25) per kg in some localities. With the current upward trend, domestic coffee prices are likely to exceed VND80,000 per kg soon.

    A surge in domestic coffee prices was attributed to the fact that traders actively purchased coffee before the Lunar New Year (Tet) holiday while exporters were afraid of supply shortages like last year so they tended to buy more.

    The coffee output of the 2023-2034 crop in Dak Lak province is forecast to reach 580,000 tonnes, thus the coffee export volume is estimated at 330,000 tonnes. If prices stay as high as they are now and fluctuate slightly in the near future, the province’s coffee export turnover could hit $900 million.

    Lam Dong province has about 175,700 ha of coffee and the output for 2023-2024 crop is expected to hit 535,000 tonnes.

    In 2023, Vietnam exported over 1.6 million tonnes, down 8.7% in quantity but up 4.6% in value compared to last year, reaching a record turnover of $4.24 billion.

    According to the Vietnam Coffee-Cocoa Association (Vicofa), Vietnam’s coffee production in the 2023-2024 crop will be 1.6-1.7 million tonnes, lower than 1.78 million tonnes in 2022-2023.

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  • Vietnam wins bid to export 300,000 tons of rice to Indonesia

    Vietnam wins bid to export 300,000 tons of rice to Indonesia

    Seven Vietnamese firms have won a bid to export 300,000 tons of rice to Indonesia, or more than half the volume that country’s plans to import in January.

    Their lowest quote was US$648 per ton, including transportation costs.

    Earlier this year Indonesia said it wanted to import 500,000 tons of rice in January to increase its food reserves.

    Last year it imported more than one million tons of Vietnamese rice, making it the second biggest customer.

    According to the Vietnam Food Association and the Thai Rice Exporters Association, the current export prices of standard 5% broken rice are $656 per ton in Thailand, $642 in Vietnam and $638 in Pakistan.

    Last year Vietnam exported eight million tons of rice to rank third in the world after India and Thailand.

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  • Karma Drinks launches limited-edition Lemmy bottle for Melanoma awareness

    Karma Drinks launches limited-edition Lemmy bottle for Melanoma awareness

    Kiwi beverage company Karma Drinks has launched a limited-edition bottle of its Lemmy Lemonade to support Melanoma New Zealand. The partnership aims to raise awareness about melanoma prevention and early detection.

    According to Melanoma NZ, more than 6000 New Zealanders are diagnosed with melanoma every year, and approximately 300 people die from the disease. However, the condition can be preventable; if detected and treated early enough, it is almost always curable.

    National sales manager James Boshier said that Karma Drinks is all about being kind and doing good for others through the sales of its drinks.

    “It seems all Kiwis know someone who has unfortunately experienced some form of skin cancer. Key stakeholders at Karma are part of this group, so we highly value the great work Melanoma New Zealand is doing,” said Boshier.

    “Being a beverage company, often consumed outdoors in the summer, the idea of a partnership made complete sense.”

    The new limited edition bottle features the brand’s popular lemonade character, Lemmy, being “sun smart”, including wearing sunscreen and sunglasses and getting into the shade.

    The beverage company will donate proceeds from every bottle and can with the Melanoma New Zealand sticker until $10,000 is raised.

    Andrea Newland, CEO of Melanoma New Zealand, says that the funds will go towards helping to save lives.

    “Melanoma New Zealand is very grateful for Karma’s generous support – the funds will be used to help raise awareness about melanoma prevention and early detection,” added Newland.

    “We love that Lemmy is wearing his sunscreen and sunglasses, getting into the shade, and helping us to educate about the importance of being sun smart.”

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  • Ukiyo Spirits unveils Tokyo Dry Gin

    Ukiyo Spirits unveils Tokyo Dry Gin

    Drinkslogy Kirker Greer subsidiary Ukiyo Spirits has launched a new small-batch classic dry gin that celebrates Japanese flavours and fragrances.

    The range includes three variants: Ukiyo Tokyo Dry Gin, Ukiyo Blossom Gin , and Ukiyo Yuzu (citrus dry gin). Ukiyo Tokyo Dry Gin will be offered to on- and off-trade merchants in Australia, the UK and the Netherlands beginning next month.

    According to the company, the products are traditionally distilled and made using high-quality Japanese ingredients. The components include indigenous rice farmed in the surrounding regions as well as five native Japanese botanicals: yuzu peel, mikan peel, sakura flower, sakura leaf, and sansho pepper.

    “These carefully chosen ingredients combine to express the diverse terroir and tastes of Japan – resulting in an elegant and delicately aromatic classic dry gin offering warm and well-balanced citrus and spice notes, and a smooth finish,” said Ali Pickering, chief marketing officer at DKG.

    “Tokyo Dry Gin is beautifully presented in Ukiyo’s iconic two–colour graduated bottle, a world-first design offering a stylish and uniquely Japanese aesthetic that reflects Ukiyo’s home by mirroring the mountains and oceans of Japan.”

    The range is aimed at city livers aged 25 to 50 who enjoy travelling and visiting high-end cocktail bars.

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  • Pernod Ricard launches zero alcohol Beefeater 0.0%

    Pernod Ricard launches zero alcohol Beefeater 0.0%

    Liquor company Pernod Ricard has launched Beefeater 0.0% to join its zero alcohol portfolio.

    Beefeater 0.0% is produced by adding the essence of Beefeater London Dry Gin’s recipe to the base, keeping the latter’s taste – minus the alcohol.

    “Beefeater 0.0% is our very first zero alcohol expression, which captures the energy of our timeless London classic but without the alcohol,” said Murielle Dessenis, global VP for marketing gins at The Absolut Group, a company under Pernod Ricard.

    “We are proud to be bringing to the no-alcohol category an elevated option, removing the need for consumers to compromise or miss out on the occasion.”

    Pernod Ricard will initially launch Beefeater 0.0% in Spain, complementing Beefeater’s existing moderated drinking range.

    Last year, the company opened a production line in Thuir, France, for non-alcoholic drinks production, research and development, and innovation.

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  • Fruit, vegetable exports rise by 89%

    Fruit, vegetable exports rise by 89%

    According to the Vietnam Fruit and Vegetable Association, fruit and vegetable exports have risen by 89.2% this year to US$459 million due to a surge in demand from China.

    China has imported large volumes of durian, bananas and dragon fruit.

    Cold snaps in many places in that country have limited domestic banana supply since the fruit turns black when the temperature drops.

    China harvested dragon fruit in abundance last year, but the season is over, and Vietnam is able to export the fruit from January to May.

    Chinese use dragon fruit as an item of worship during the Lunar New Year, and so demand for imports from Vietnamese has skyrocketed.

    During President Xi Jinping’s recent visit to Vietnam, the Chinese side said it would open its market to many Vietnamese agricultural products, including fresh coconuts, frozen fruit products, citrus fruits, avocados, custard apples, and water apples.

    The two sides also signed a protocol for watermelon export.

    In addition to China, the U.S., the EU and some Asian countries are also set to open their doors to more Vietnamese fruits.

    The U.S. and Australia plan to import passion fruit, Japan, South Korea, Australia, and India want to buy grapefruit with India also eyeing durian imports.

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  • Irish Single Malt becomes the world’s most expensive whisky

    Irish Single Malt becomes the world’s most expensive whisky

    The Craft Irish Whisky Co has sold a bottle of The Emerald Isle whisky to American collector Mike Daley for $2.8 million, marking a record for the world’s most expensive whisky.

    “The rebirth of Irish whiskey is relatively new, so I feel like I’m getting in on the ground floor. Luxury scotch, to me, is already a crowded type of market,” said Mike Daley, one of the US’ most prolific collectors of the spirit.

    “But we’re only just starting to see luxury Irish make a name for itself. I guarantee you that in the years to come, it will get to where scotch is today.”

    A bottle of The Macallan 1926 sold for $2.7 million at auction last November, momentarily becoming the world’s most expensive bottle, a title now held by The Emerald Isle, indicating a shift in the tastes of luxury collectors, many of whom believe the Scotch market has grown overcrowded.

    The Craft Irish Whisky Co, founded in 2018 by Irish entrepreneur Jay Bradley, was the most highly recognised new firm of the year in 2021, accumulating a total of 12 accolades across both Taste and Design for four of its ultra-rare whisky releases.

    Last year, the company won 44 medals in total, including Gold and Silver at the IWSC Taste medals, Gold, Silver and Bronze at the World Whisky Awards, and a Master Medal for The Donn at The Drinks Business Autumn Bling Tasting.

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  • Rice exports reach record high

    Rice exports reach record high

    Vietnam’s rice exports soared to 8.13 million tons, valued at US$4.7 billion in 2023, setting a new national record, as per the General Department of Customs.

    This marked a 14.4% increase in volume and a 35.3% rise in value from the previous year, despite challenges from the El Nino weather pattern.

    The export surge is partly attributed to India’s export ban on non-basmati white rice, which has affected global rice trade.

    India, a major player in the global rice market, contributes 40% to the worldwide rice trade. Its largest buyers include Iran, Saudi Arabia, and China.

    In 2023, several countries increased their rice imports from Vietnam as the global supply dwindled. A rice export business director from Dong Thap Province said some countries that typically imported little rice from Vietnam began placing substantial orders.

    The ongoing Indian export ban has left many countries seeking reliable rice sources, creating an optimistic outlook for Vietnam’s rice exports in 2024.

    In 2023, the Philippines was the largest importer of Vietnamese rice, purchasing 3.1 million tons, followed by Indonesia, China, and Ghana. Vietnam now is the world’s fifth-largest rice producer and third-largest exporter.

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