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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.

  • Vegetable, fruit exports reach $5.2B record

    Vegetable, fruit exports reach $5.2B record

    Vietnam’s vegetable and fruits exports surged 70% year-on-year in the first 11 months to $5.2 billion, a new historic peak.

    Durian accounted for 40% of the value, followed by jackfruit, watermelon, grapefruit and longan, all recording growth between 50% and 200%, according to the Vietnam Fruits & Vegetables Association (VFA).

    This was the first time that vegetables and fruits exceeded the export value of key agricultural produce such as rice, cashew nuts and coffee.

    China was the biggest market in the first 10 months at $3.2 billion, accounting for 66% of the total. Growth was 2.7% year-on-year.

    It was followed by the U.S., down 3% to $212 million, South Korea, up 25% to $187 million and Japan, up 7% to $151 million.

    The surge in demand from China and other countries helped exports to reach new heights, said Dang Phuc Nguyen, VFA general secretary.

    More durian farming areas have been approved for exports to China this year and this helped increase shipment, he said, adding that improved infrastructure and logistics also contributed to the growth.

    China is considering importing fresh coconuts from Vietnam and the fruit if approved, will likely be another one that records billions in exports.

    Vietnam is negotiating with the U.S. and Australia to export passion fruit there. It is also in talks to ship grapefruit to Japan, South Korea, Australia and India.

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  • Australian wine sales up despite lowest production in 15 years

    Australian wine sales up despite lowest production in 15 years

    Australian wine sales rose by 11 percent despite the lowest wine production in 15 years, according to the Wine Production, Sales and Inventory Report 2023 by Wine Australia.

    In the fiscal year 2022-23, 964 million liters of wine were produced, while sales remained steady at 1.07 billion liters, with a slight increase in domestic sales offsetting the decline in exports.

    Peter Bailey, manager of marketing insights at Wine Australia, said this is the first time in five years that the total sales volume remained steady year-on-year.

    “Sales of Australian wine have been decreasing in our domestic market and export markets over the past five years due to declining wine consumption combined with increased cost-of-living pressures and the effects of the significant duties on Australian wine to China,” he explained.

    The national wine inventory decreased by 4 percent to an estimated 2.2 billion litres in June last year due to sales exceeding production. However, inventory levels remain high, particularly for red wine.

    “This is a move in the right direction for the sector as it responds to the challenge of rebalancing supply and demand,” adds Bailey. “However, it is only a small reduction after the lowest vintage in 20 years, and stocks of red wine remain at historically high levels.”

    The report noted that the stock-to-sales ratio for red wine was still 45 percent above the 10-year average despite decreasing by 7 percent due to the decrease in inventory.

    While supply and demand for white varieties appeared to be more balanced, Bailey pointed out that sales of white wine in 2022-23 were considerably lower than the 10-year average production.

    “Rebalancing supply and demand remains a real challenge for the sector,” he concluded.

    “Our situation reflects the global environment, as world wine production has exceeded yearly consumption for at least the past ten years. This prolonged oversupply, equivalent to more than twice Australia’s production yearly, has put increasing pressure on all wine-producing countries.”

  • McDonald’s to buy Carlyle’s stake in China business

    McDonald’s to buy Carlyle’s stake in China business

    Fast food chain McDonald’s Corporation has agreed to acquire Carlyle’s 28 percent stake in the consortium that operates the McDonald’s business in Mainland China, Hong Kong and Macau.

    Through its equity affiliate Citic Capital, the Citic Consortium will maintain a 52 percent controlling stake while McDonald’s will increase its ownership in the business to 48 percent.

    “Our strategic partnership with CITIC and Carlyle has been extremely successful in growing McDonald’s presence in the region since it began. China is now our second largest market; we’ve doubled our restaurants to more than 5500 since 2017,” said Chris Kempczinski, McDonald’s president and CEO.

    “We believe there is no better time to simplify our structure, given the tremendous opportunity to capture increased demand and further benefit from our fastest-growing market’s long-term potential.”

    The acquisition comes amid the consortium’s target to reach more than 10,000 McDonald’s stores in the region by FY28 and nearly six years after the burger chain agreed to sell 80 percent of its China and Hong Kong businesses to Citic and Carlyle for up to $2.1 billion.

    “As McDonald’s China’s controlling shareholder, we are thrilled by McDonald’s Corporation’s continued commitment to our long-term partnership and the China market,” said Yichen Zhang, Citic Capital CEO and McDonald’s China chairman.

    The deal is expected to close in the first quarter of next year.

  • Cotti Coffee opens first location in Hong Kong

    Cotti Coffee opens first location in Hong Kong

    After expanding its presence in Southeast Asia, Chinese coffee chain Cotti Coffee has launched its first location in Hong Kong, with the first store in Indonesia in August.

    The Sheung Wan Mass Transit Railway (MTR) station location joins Cotti Coffee’s portfolio of more than 6200 stores worldwide, encompassing key cities in countries including Canada, Japan, South Korea, and Indonesia.

    Cotti Coffee is one of the largest coffee chains in China and the official global sponsor of Argentina’s national football teams. Since its establishment, the brand has spread to 328 cities in 28 countries and markets.

    According to the coffee retailer, it will offer Hong Kong customers “distinctive flavors and technological innovation”. Customers can purchase classic coffee delights including Americanos, lattes, as well as other innovations like the Coco Cotti, Stardust Oat Latte, Pampas Blue Coco Latte, and Coco Pearl.

    The brand also introduces Grapefruit Sparkling Cold Brew, Grapefruit Hand-Shaken Iced Tea, and the “Rice Milk” line.

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  • Aussie wines meet Filipino spirits in new venture 7000 Islands

    Aussie wines meet Filipino spirits in new venture 7000 Islands

    Filipino-Australian entrepreneur Siggy Bacani seeks to bring the best of both worlds together by launching 7000 Islands, a cross-cultural business venture that imports Filipino liqueurs and spirits to Australia while exporting small-batch Aussie wines to the Philippines.

    Making its debut this month, the first shipment of hand-crafted Ube Cream liqueurs arrived in the company’s warehouse in Sydney directly from regional provinces in the Philippines.

    The liqueurs and a range of Filipino spirits will progressively become available in selected bars, restaurants and specialist outlets across Sydney, Brisbane, Melbourne and Perth.

    On the other hand, 7000 Islands will also distribute select white and red wines from Victoria’s Yarra Valley and varietals in SA and NSW.

    Bacani was born in the Philippines and moved to Australia with his family in the late 1980s; he considers himself “at home” in both. Previously, he worked as a marketing manager for Bacardi Brown-Forman Brands in the UK and for Moët Hennessy in Australia.

    “These are exciting times,” he remarked. “Our vision is to harvest and export superb local wines from around Australia that perfectly harmonise with the tropical gastronomy of the Philippines while providing Australian drinkers with the chance to explore some of the unique taste profiles of popular Filipino liqueurs and spirits.”

    Initially, the 7000 Islands brand will have approximately 20 products available ranging from wines selected from the 65 wine-growing regions of Australia to liqueurs and spirits produced by distillers from the 82 provinces of the Philippines.

    “All our Philippine-based drinks are sourced from natural Filipino ingredients such as Ube and sugar cane,” Bacani continued.

    “For example, Proclamation Gin is made from handpicked Sampaguita flowers responsibly sourced from female farmers in Pampanga.

    “Meanwhile, the vivid purple yam known as Ube is already popular in Australia and can now be found in many products, including Filipino pastries, cakes and ice creams.”

    The imported Filipino craft spirits will be available in premium restaurants and bars, including the three-hat restaurant Oncore by Clare Symth in Crown Sydney;  Ni Hao Bar & Dining in Sydney’s Civic Hotel, modern Vietnamese restaurant and bar Saigon Hustle in Sydney’s Smithfield, multi-award winning Serai restaurant in Melbourne and Hygge Bar in Perth.

    “We are passionate about bringing the best of these two worlds together with a selection of small-batch wines and craft spirits that reflect the unmistakable flavours and traditions of Australia and the Philippines,” Bacani concluded.

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  • Purple star apple prices skyrocket

    Purple star apple prices skyrocket

    Purple star apples, popular both in Vietnam and its export markets, have seen prices rise by 30-40% from a year ago.

    The fruit is in season and sells in markets and stores for VND90,000-100,000 (US$3.58-3.97) per kilogram for type 1 (the highest quality), a 40% increase from a year ago, and VND40,000-50,000 for types 2 and 3.

    Oanh, who runs a fruit store on Pham Van Hai Street in HCMC’s Tan Binh District, said the star apples this year are bigger, of better quality and more eye-catching. “Every day I pick up 50 kilograms and sell them all. During holidays the demand is doubled, but there is not enough supply.”

    According to Hanh, a wholesaler at the Thu Duc Agricultural Product Market, type 1 is in short supply. “Every day I procure more than one ton but it is not enough to supply wholesalers. Purple star apple is very scarce at the beginning of the season.”

    A recent VnExpress survey of fruit farmers in Can Tho City and Soc Trang Province found that the highly sought-after fruit is 50% more expensive than last year at VND28,000-35,000 per kilogram.

    Phong, who owns a half-hectare orchard in Can Tho Province, expects to make profits of VND250 million, double the previous season’s. “This year not only is there a bountiful purple star apple harvest, but the price is also skyrocketing.”

    Similarly, farmers in Soc Trang Province, dubbed the “purple star apple capital” of western Vietnam, are overjoyed that exporters are buying their fruit at VND45,000 per kilogram. One-hectare orchards are making profits of VND500-700 million this year.

    Su Quoc Loc, director of the Loc Mai Agriculture Cooperative, which specializes in the fruit, said export prices of fresh star apples are 13% higher from a year ago and domestic prices, 50%.

    The cooperative’s members own 47 orchards that meet VietGAP quality standards, 60% of them more than one hectare.

    Loc attributed the rising prices to increasing exports to the U.S. and China.

    This year, instead of rushing to harvest, which leads to a spike in supply and fall in price, fruit growers have learned to stagger their harvest.

    As a result, the star apple season, which usually lasts from November to January, could extend all the way to April. This method provides a more stable supply and maintains high prices.

    Star apples are mainly being harvested in the Can Tho City and Tien Giang and Soc Trang provinces, according to data from the Plant Protection Department.

    Tien Giang is notable with over 3,000 ha while Soc Trang Province has 2,300 ha, both with different varieties of star apple, such as purple, Lo Ren and pink butter.

    The purple variety is highly valued due to its exquisite shape and is available year-round.

    Star apple is exclusively a Vietnamese export and imported by China and the U.S., with prices paid by the latter reaching nearly VND500,000 per kilogram at one point.

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  • Oakberry Açai expands, to open 30 stores in 2024

    Oakberry Açai expands, to open 30 stores in 2024

    Oakberry Açai will open 30 new stores next year, with 10 -15 of these new retail outlets franchised.

    The chain plans to open two franchised stores and seven corporate stores before the end of 2023.

    Circular Quay, Hawthorn, and Perth Stores should open this month. Oakberry Açai will unveil stores in St Kilda, Wollongong, Clovelly, Bondi Road, Maroubra, and Surry Hills through December.

    By the end of the year, there will 45 Oakberry stores in Australia offering berry smoothies, bowls, snacks and drinks.

    The business offers a traditional franchise and an investment model.

    Oakberry growth in Australia and Bali Renan Fretes, CEO, Oakberry Australia, told Franchise Executives the brand faces two challenges right now.

    He said the availability of suitable retail locations can challenge its growth plans.

    “Added to this is the impact of widespread inflation across all consumer products, and since Oakberry açai comes exclusively from the Amazon rainforest, cost increases in shipping do impact Oakberry pricing.”

    Fretes said the brand will continue its expansion across Bali.

    “We have three stores to open by the end of 2023 – Canggu, Ubud & Uluwatu. Oakberry would like to extend its reach in Indonesia, looking to open at least 10 more stores in 2024 in between Bali and Jakarta. The next store planning to be opened is Seminyak in 2024.

    “Oakberry and Bali seem like a natural fit. Just like Australia, people in Bali tend to value a healthy lifestyle and enjoy eating food that’s packed full of vitamins and nutrients, whilst also valuing convenience.”

    The Brazilian business began in 2016, and now has more than 600 operating stores worldwide.

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  • Mondelez boosts Gourmet Food with $13m state-of-the-art packaging line

    Mondelez boosts Gourmet Food with $13m state-of-the-art packaging line

    Snackfoods giant Mondelez has introduced a $13 million state-of-the-art packaging line at its Gourmet Food manufacturing site as part of its $25 million investment plan since acquiring the business in 2021.

    The new packaging line aims to increase production of the Olina’s Bakehouse Artisan crackers range by 35 percent, open up export opportunities, and drive more demand for locally sourced ingredients.

    Fully operational, the facility is powered by 100 percent renewable electricity through Mondelez International’s renewable power purchase agreement with Pacific Blue Retail.

    The initiative will reduce the carbon footprint from the facility by 44 percent (against a 2023 baseline) and complement the company’s Ringwood and Scoresby factories already powered by renewable energy.

    Bevan Tippet, MD, Gourmet Food, says the investment demonstrates the brand’s commitment to providing consumers with an “exceptional range” of biscuits and premium crackers.

    “The investment will increase the production of our prominent Olina’s Artisan range by a third, as we meet growing local and export demand,” he added.

    “Already, twenty percent of our volumes are exported overseas, and this investment will equip us to explore and capture opportunities to showcase our Australian-made products to the world.”

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  • Imported fruit prices plummet on burgeoning supply

    Imported fruit prices plummet on burgeoning supply

    Imported kiwis, apples, pomegranates, and pears only cost a few tens of thousands of dong (VND24,000=US$1) per kilogram, or a fifth of the prices two years ago.

    Hanh, a seller of imported fruits on Bach Dang Street in HCMC’s Binh Thanh District, said golden kiwi imported from New Zealand is selling at VND200,000 ($8.21) per box of 3.5 kilograms, or VND57,000 per kilogram.

    For those buying more than 10 boxes, the price comes down to VND160,000. “This price is down 15% from a year ago,” she said.

    Imported pomegranate and pear are also becoming cheaper, she said.

    Chinese and Tunisian pomegranates currently sell for VND60,000-70,000 and VND35,000-50,000 per kilogram.

    In 2021, imports from the North African country had cost up to VND250,000.

    First-grade pears imported from South Korea are sold for VND60,000-80,000 per kilogram, and second-grade varieties for VND30,000-40,000, the lowest prices ever.

    The prices of apples imported from New Zealand have also dropped sharply to VND40,000-60,000 per kilogram.

    Envy apples, the most expensive imports along with Japanese apples, cost VND200,000-350,000 two or three years ago, but only VND70,000-110,000 now.

    Thanh, who sells imported fruits at the Thu Duc wholesale market in HCMC, said prices have declined because supply is abundant while demand has not gone up much.

    India and New Zealand have recently sought to export more fruits to Vietnam, and so their prices are attractive, he said.

    Recent deals between Vietnam and China have helped Chinese fruits enter the Vietnamese market easier and at lower prices than before.

    Dang Phuc Nguyen, general secretary of the Vietnam Fruit and Vegetable Association, said the country’s accession to free trade agreements has brought down import taxes on fruits and vegetables virtually to zero.

    According to statistics from the General Department of Vietnam Customs, the country imported fruits and vegetables worth $1.6 billion in the first 10 months of this year.

    Imports of fruits at low prices from countries such as India, New Zealand and South Korea were up 4-62% year-on-year.

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  • Shrinking Chinese exports halve dragon fruit prices

    Shrinking Chinese exports halve dragon fruit prices

    Vietnamese red-fleshed dragon fruit is selling for VND10,000-13,000 (US$0.41-0.53) per kilogram, down 50% against same period last year, due to reduced imports from China.

    Hoang, who sells fruits from a cart on Go Vap District’s Thong Nhat Road in Ho Chi Minh City, said this is the first time red-fleshed dragon fruit has been sold at stalls on roads and streets in the city.

    Thuan, another mobile fruit seller on Pham Van Dong Road in Thu Duc City, said: “Many dragon fruit growers in the Mekong Delta province of Tien Giang sell the fruit at such a low price that they barely want to harvest them anymore.”

    In the province’s Cho Gao District, traders are buying red-fleshed dragon fruit from orchards at prices of VND4,000-8,000 per kilogram.

    Huu, who grows 4,000 square meters of red-fleshed dragon fruit in the district, said he does not make a profit at current prices.

    If earnings from the fruit continue to decrease, his family may switch to other crops.

    According to the Long An Dragon Fruit Association, the province has 9,000 hectares of dragon fruit, down from the peak of 12,000 hectares some years ago.

    Fruit exporters said the prices have fallen because China has reduced imports, meanwhile, Vietnamese demand for the fruit is weak since many other tropical fruits with attractive prices are currently in season.

    Last year, Chinese authorities said the nation had grown the fruit on 67,000 hectares, producing 1.6 million tons. The figures exceeded Vietnam’s current output.

    Chinese newspaper The People’s Daily reported that farmers in Cixi, part of the eastern province of Zhejiang, worked all night to artificially pollinate dragon fruit, ensuring a bumper crop.

    Red-fleshed dragon fruit is selling for seven renminbi (nearly $1) per kilogram, while white-fleshed dragon fruit imported from Vietnam goes for around nine renminbi in Nanning, the capital of Guangxi Province.

    Vietnam’s dragon fruit exports in the first eight months declined 4.4% year-on-year to $442 million. Specifically, red-fleshed dragon fruit exports to China dropped by 36.5%.

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  • Starbucks launches plan to cut $3 billion in costs over three years

    Starbucks launches plan to cut $3 billion in costs over three years

    Starbucks Coffee Company has announced Triple Shot Reinvention with Two Pumps – a long-term growth plan for brand elevation, global expansion, and cost efficiency.

    The company described the strategy as the “next step in the re-founding of the company” to deliver significant value to partners, customers and shareholders.

    The plan includes three priorities – elevating the brand, strengthening and scaling digital, and becoming truly global – along with “two pumps” – unlocking efficiency and reinvigorating the partner culture.

    The firm expects to generate $3 billion in savings over three years, with $2 billion outside the store from the cost of goods sold. This will enable the company to reinvest in the business and deliver returns to shareholders through earnings growth.

    Regarding brand elevation, Starbucks will focus on running better stores, growing the portfolio with more purpose-defined stores and renovations, and driving product innovation.

    The company intends to double its 75 million global Starbucks Rewards Members within five years and expand digital and technology collaborations to elevate the partner and customer experience.

    To become a more global brand, it has a goal to reach 55,000 locations across the world by 2030. The company currently has over 38,000 stores, with about 9000 new openings in the past five years.

    Starbucks will also reinvigorate the partner culture through continued investments in the partner value proposition across the partner experience.

    For FY23, Starbucks recorded an 8 percent increase in global comparable store sales, with North America and the US up 9 percent and international up 5 percent.

    The company’s consolidated net revenues rose 12 percent to a record $36 billion, excluding a 2 percent unfavorable impact from foreign currency translation.

    CEO Laxman Narasimhan said the company achieved strong results for the fourth quarter and full fiscal year, which are on the higher end of its full-year guidance.

    “As we enter the current year, in the face of macro uncertainty, we remain confident in the momentum throughout our business and headroom globally,” Narasimhan added.

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  • China ready to welcome likely return of Aussie wine as ties improve

    China ready to welcome likely return of Aussie wine as ties improve

    News that punitive tariffs on Australian wine introduced by China in 2021 would be reviewed as part of a push to improve the relationship between the two countries was cheered by many, including Campbell Thompson.

    The Beijing-based Australian CEO of wine importer and distributor The Wine Republic has spent more than a decade making his living from bringing wine, much of it from Australia, into the China market.

    “We are looking forward to the tariffs being removed. I think for Australia there is definitely an opportunity,” he said.

    The introduction of a 218 percent tax on most Australian wine introduced by China early in 2021 prompted that trade, previously valued as high as $1.2 billion annually, to collapse.

    Penfold’s maker, Treasury Wine Estates, said in 2022 it had lost 97 percent of its China business due to the introduction of the tariffs.

    Prior to Australia’s call for an investigation into the origins of Covid-19 in 2020, Australian wines imported into China were subject to zero tariffs following the signing of a free trade agreement in 2015, giving them a 14 percent tariff advantage over many other wine producing nations.

    Late last month, the two sides announced they had reached a consensus to settle the WTO wine dispute and that the anti-dumping tariffs, which weren’t set to expire until 2026, would be reviewed, ahead of Australian Prime Minister Anthony Albanese’s visit to China this month.

    Thompson is already in touch with the 10-plus Australian wineries he worked with before 2021, along with some newer players, in expectation that tariffs will soon be removed.

    Though he says this is good news, perhaps paving the way for the return of Australian wine to the Chinese market by early next year, he is not necessarily expecting business to bounce back immediately.

    “I don’t think that’s realistic any time soon. However, for a lot of good quality Australian wine producers … customers still know the wines and I think will re-engage with those wines fairly readily,” he said.

    Layla Wang, co-owner of Trio Wine Bar in Beijing agreed that Chinese market perceptions of Australian wine haven’t changed in the years since it was last available, with no clear winner in the battle to take over Australian wine’s market share.

    The bar’s small cellar is lined floor to ceiling with bottles of wine from all over the world, and Wang said the market has become more crowded as people seek out new and different wine experiences, leading to the increased popularity of homegrown Chinese wines, biodynamic and natural options.

    “I think even if people have been away from Australian wine for a while, every time we talk about this category of wine, we all think it’s a very good quality wine,” Wang said, sat at her bar.

    “For us, we’re definitely delighted as it signifies offering more choices to our customers. For consumers who haven’t had Australian wines for years, many will be eager to try them again.”

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  • Vietnam pho, milk tea franchised for first time in Philippines

    Vietnam pho, milk tea franchised for first time in Philippines

    The famous noodles dish pho has been franchised for the first time in the Philippines along with milk tea and spa services by three Vietnam’s companies.

    Pho’S, Phuc Tea and Care With Love have signed franchise contracts with Philippine businesses through the ecosystem of Go Global Holdings, a company that helps small and medium-sized businesses become franchisers, its CEO, Nguyen Tuan Quynh, said Thursday.

    Many foreign brands have been rushing into Vietnam to franchise their products and services in recent years, but there have been few such efforts in the reverse direction, and even fewer have succeeded, he said.

    “These franchise contracts are therefore positive signs for Vietnamese firms.”

    Tran Thao Vi, founder of spa service provider Care With Love, told VnExpress that a franchise deal has been signed with a Philippine partner specializing in medical services.

    “In two months we will launch our first franchise in the Philippines and open another three in the first quarter next year, and eventually have dozens of spas in the country.”

    Care With Love has been operating for 11 years with 13 branches. It plans to increase the number to 20 by the end of this year, 80% of them franchises.

    Tran Nhat Vu, co-founder of beverage chain Phuc Tea, which has 140 stores in Vietnam after six years since opening, said the franchise partner would open around 20 stores in the Philippine capital Manila next year.

    The franchise fee for each Pho’S and Phuc Tea store is US$7,000-10,000.

    The three companies said the Philippines partners were interested because their business models are “unique” with their focus on middle-class customers.

    Pho’S is the first major company to use ginseng in its recipe, while Phuc Tea has been making new beverages from unusual ingredients.

    The three companies are also in talks for franchising in Indonesia and Malaysia.

    Vietnamese companies to launch franchises overseas so far are footwear and leather company T&T, Pho 24 and Vu Giang Jsc under the brand Bobby Brewers coffee chain.

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  • Coca-Cola buys Finnish vodka label Finlandia for $342 million

    Coca-Cola buys Finnish vodka label Finlandia for $342 million

    Coca-Cola HBC (Hellenic Bottling Company) has purchased Finlandia Vodka from liquor giant Brown-Forman for $342 million (US$220 million), subject to adjustments related to inventory and other working capital items.

    The beverage giant says the acquisition will bolster Coca-Cola HBC’s premium spirits credentials and drive mixability opportunities with premium and super premium non-alcoholic ready-to-drink (NARTD) products, capturing more consumers and strengthening partnerships in strategically important channels such as HoReCa (hotel-restaurant-catering)

    Brown-Forman said the sale of Finlandia vodka is another step to its long-term strategic plan to premise its portfolio through brand innovation, acquisition, and divestiture.

    Established in 1970, Finlandia is one of the leading vodka brands in Central Eastern Europe with annual volumes of 2.7 million cases worldwide, of which more than 60 per cent is generated within Coca-Cola HBC’s geographic footprint.

    Anora Group bottles Finlandia in Finland based on a long-term production services agreement and is sold in pure and flavoured versions.

    “We are pleased to pass on the ownership torch of Finlandia to Coca-Cola HBC, who has proven to be a strong and reliable partner to our brands for more than 17 years,” said Lawson Whiting, CEO of Brown-Forman.

    “I am confident that Coca-Cola HBC’s growth ambitions and capabilities in premium spirits, its critical mass and execution excellence, and its leading sales and distribution credentials in the markets where it operates will accelerate Finlandia’s growth trajectory.”

    Brown-Forman’s roster of brands includes Jack Daniel’s Tennessee Whiskey, RTDs and other Jack Daniel’s-branded products, Woodford Reserve, Old Forester, Coopers’ Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, Fords Gin, and Diplomatico Rum.

    The company has approximately 5600 employees globally, and its brands are sold in more than 170 countries.

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  • Vietnam told to boost halal food exports

    Vietnam told to boost halal food exports

    Countries with large Muslim populations have called on Vietnam to produce and export halal products amid increasing demand for them.

    “The halal food industry is a billion-dollar opportunity for which we can cooperate and develop,” Agustaviano Sofjan, Indonesia’s consul general in Ho Chi Minh City, said at a forum titled “Cooperation and Development of Halal industry in ASEAN” held in the city on Monday.

    With the largest Muslim population in the world, Indonesia has a halal market of US$180 billion, and it is expected to skyrocket to $281 billion by 2025.

    Malaysia also has big demand for halal products.

    Rosmizah Binti Mat Jusoh, commercial consul at the Malaysian consulate general in the city, said Vietnam is still new to the halal industry and needs to create an ecosystem for it, and Malaysia could help it through the certification process step by step.

    Singapore also has big demand for halal items though Muslims only make up 14% of its population.

    Jason Yeo, vice president of the Singapore Chamber of Commerce in Vietnam, said his country receives millions of tourists every year from the Middle East and Central Asia. “This makes halal certification extremely important for companies operating in Singapore and our partners across the region and the world.”

    The Singapore halal market is expected to grow by 8-10% in the next few years, he said.

    At the forum, Cao Thi Phi Van, deputy director of the Ho Chi Minh City Investment and Trade Promotion Center, said countries such as Indonesia, Malaysia and Saudi Arabia have expressed a desire to collaborate with Vietnam in investing and developing the halal industry.

    The global halal economy is worth US$7 trillion and expected to reach $10 trillion before 2028.
    The Southeast Asian market alone is worth $230 billion, but Vietnam’s exports of halal products remain minuscule.

    Vietnam is among the world’s top 20 exporters, but is nowhere in the list of halal food suppliers.

    According to statistics from the General Department of Vietnam Customs, the country’s total trade with Muslim countries in the ASEAN region stood at $26.37 billion in the first nine months of this year.

    Van said Vietnam has the potential to do well in the regional and global halal markets because of its agricultural and fishery strengths, close proximity to major halal markets and many free trade agreements.

    But it only exports around 20 products to halal markets, and 40% of its cities and provinces do not produce halal-certified items for export.

    Ly Kim Chi, chairwoman of the Food and Foodstuff Association of Ho Chi Minh City, said on average 50 businesses get their products, mainly seafood, beverages and confectionery, halal-certified every year.

    Tee Ramlan, director of the Vietnam Halal Center, said there are around 70 economies to which Vietnam can export halal products. “Thailand and Taiwan already export many halal products, so why doesn’t Vietnam?”

    He said the first step is to develop highly skilled human resources for the halal industry.

    Van proposed increasing links between HCMC and its neighboring provinces to raise awareness of halal products and form a closed supply chain for them extending to exports.

    Recently the Ministries of Science and Technology and Industry and Trade developed four national standards for halal.

    In February, the Government had unveiled a scheme for strengthening international cooperation to develop Vietnam’s halal industry for until 2030.

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