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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.

  • Vietnam’s tuna export orders to increase

    Vietnam’s tuna export orders to increase

    The Vietnam Association of Seafood Exporters and Producers (VASEP) forecast tuna export orders will increase sharply in the last months of the year due to decreasing inventories in major export markets.

    VASEP said the stockpiled quantity of tuna in the U.S., one of the main markets of Vietnam has begun to decrease and importers were considering speeding up imports.

    By the end of the year, major markets such as the U.S. will have many festivals, so consumer demand will increase. Meanwhile, preferential tariffs are an advantage that has pushed EU importers to seek orders from Vietnam.

    Over the past seven months of this year, Vietnam’s tuna exports reached nearly $445.6 million, down 31% year-on-year, VASEP said.

    While exports of high-value fresh, frozen and dried tuna products decreased 46%, shipments of processed and canned tuna goods saw a modest rise of 4% to over $204 million, it said.

    Besides, exports to the EU, Mexico, Israel and Thailand had recorded high growth over the same period of 2022.

    The EU market showed signs of recovery, with a growth rate of 28% in June and July, earning Vietnam a turnover of $12 million per month. Notably, in the bloc, exports to the Netherlands also continuously grew remarkably while that to Germany maintained an increase of 30% in June and July.

    Vietnamese tuna exports to Mexico and Chile also recorded hikes of 100% and 90%, respectively. Meanwhile, tuna shipments to Thailand also soared 65% in the last two months.

    According to Nguyen Ha, tuna market expert of VASEP, in the context that exports to the main traditional markets had all declined, Israel had emerged as a potential market.

    In the first half of this year, Vietnamese tuna exports to Israel hit nearly $25 million, up 92% over the same period last year.

    Frozen tuna meat and fillets still accounted for the highest proportion of 47%. The export value of this product group saw a yearly hike of 29%. Meanwhile, the export turnover of canned tuna increased 375% and other processed tuna products surged 83%.

    Despite being a small country, with no natural resources and limited domestic labor resources, Israel’s consumer demand was quite large and solvency was high, so there remained ample room for Vietnam’s tuna exports to the market, Ha said.

    Especially, the Vietnam-Israel FTA (VIFTA), signed on July 25, would open up opportunities for Vietnam’s seafood exports, including tuna, to access the Israeli market and lucrative Middle East region, Ha said.

    To penetrate the Israeli market, VASEP Secretary General Truong Dinh Hoe suggested that tuna exporters ensure product quality, carefully study market information, promote credibility and be responsible.

    He vowed that VASEP would accompany, research carefully and disseminate market information to businesses.

    To facilitate tuna exports, businesses petitioned the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade to grant more quotas for imported raw tuna as domestic tuna raw material could meet only 25% of demand for processing and export, the Binh Dinh Fishery JSC Co suggested.

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  • Prices of Vietnam’s exported rice highest in the world

    Prices of Vietnam’s exported rice highest in the world

    Prices of Vietnam’s exported rice are still the highest in the world, with that of 5% broken rice reaching 638 USD per tonne, and 25% broken rice $623 per tonne, according to the Vietnam Food Associaion.

    Meanwhile, Thailand’s 5% broken rice is sold at $628 per tonne, and that of Pakistan at 598 USD a tonne.

    In the Mekong Delta – the largest rice granary of Vietnam, the price of paddy rice remains at an unprecedented high level in many localities, helping farmers achieve good profits.

    In July, the United Nations Food and Agriculture Organisation (FAO)’s rice price index rose to its highest level in nearly 12 years. The move was due to a spike in prices in key rice exporting countries after India imposed export restrictions.

    Recently, the Vietnamese Ministry of Industry and Trade announced the list of 210 businesses that are eligible to export rice.

    According to the ministry, in the first seven months of this year, Vietnam exported 4.83 million tonnes of rice. The country plans to export about 2.67 million tonnes in the remaining five months of the year.

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  • Vegetable, fruit exports hit new high

    Vegetable, fruit exports hit new high

    Vegetable and fruit exports increased by nearly 56% year-on-year in the first eight months to a record US$3.5 billion worth, according to Vietnam Customs.

    Increase in Chinese demand from was a major reason for the jump.

    Several other countries in the region, hit by droughts and floods, also increased their imports, Dang Phuc Nguyen, general secretary of the Vietnam Fruits and Vegetable Association, said.

    Durian accounted for 30% of the export value.

    Durian prices are expected to rise in September as supply has declined in other Southeast Asian countries. Vinafruit expects exports of the fruit to be worth $1.5 billion this year.

    Coconut also has potential for higher exports to China and the U.S., with the latter recently allowing imports of husked nuts from Vietnam.

  • Cobram Estate’s sales surge after bumper olive crop

    Cobram Estate’s sales surge after bumper olive crop

    Listed Australian olive oil grower and processor Cobram Estate Olives, has recorded a 21 percent year-on-year boost in sales, to $169 million for the last financial year as its foray into the US pays off.

    The majority of the sales – $117 million – were from its Cobram Estate brand – the top-selling olive oil in Australian supermarkets – and its newer Red Island brand, which collectively rose by 17 percent.

    Sales of Cobram Estate in the US surged 69 percent and turnover in the market reached $43 million, up by 46 percent.

    In a results presentation, the company reported a higher-yielding crop last year to 12.5 million litres, offset by a lower margin as the price of producing packaged goods rose.

    However, looking forward, the company says the Australian olive oil crop is down this year, however, it still expects to have sufficient oil for its packaged goods targets.

    “The sales outlook remains positive, benefiting from a global shortage of olive oil and record high global prices of European olive oil flowing through to both Australia and the US,” the company said.

    Established in 1988, Cobram Estate Olives is Australia’s largest producer and marketer of premium quality extra virgin olive oil and owns more than 2.6 million olive trees across 7000ha of farmland in Victoria, and a further 334,000 trees on 558ha in California.

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  • Bega Cheese reports strong market share growth for FY23

    Bega Cheese reports strong market share growth for FY23

    Bega Cheese says it has gained market share and margin momentum in the second half of the year following significant cost increases in the first quarter.

    For FY23, the dairy company achieved a revenue of $3.4 billion, marking a 12 per cent rise from the previous year. It closed the fiscal year with a net debt of $203.6 million and a reduced leverage ratio of 1.6 times.

    Statutory EBITDA (earnings before interest, tax, depreciation, and amortisation) was $144.1 million, with a post-tax loss of $229.9 million significantly impacted by non-cash asset impairment of $230 million.

    Meanwhile, normalised EBITDA was $160.2 million, with a profit after tax of $28.5 million.

    According to Bega, its strategic decisions in the past five years played a pivotal role this year as it navigated “difficult and rapidly changing” conditions.

    The implementation of price adjustments, cost reduction initiatives, and a stream of new products significantly improved the financial performance of the Branded segment, particularly in the latter part of the year.

    However, the continued decline of milk production and excess milk manufacturing capacity have created a highly competitive environment and a disconnect between returns from globally treated commodity markets and Australian farm gate milk prices.

    Bega said this scenario will continue for some time, resulting in a non-cash impairment and a strategic decision to right-size some of its commodity assets.

    Reflecting on the results, executive chairman Barry Irvin emphasised the company’s strategy to shift to a predominantly branded business model.

    “The non-cash impairment of our bulk commodity assets reflects industry circumstances and reinforces the importance of our strategy to transform to a predominantly branded business,” said Irvin.

    “The right-sizing of our commodity assets and their further integration with our branded business creates a great platform for the support and growth of our brands while maintaining the capability to respond to changing market circumstances.”

    Looking ahead, Bega has outlined a restructuring and simplification program to accelerate its transition to an integrated, predominantly branded business.

  • Vitasoy launches plant-based oat yogurt range

    Vitasoy launches plant-based oat yogurt range

    Beverage brand Vitasoy has unveiled a new plant-based yogurt range made with homegrown oats.

    The range is made at Vitasoy’s Albury-Wodonga facility and is available in three flavours Blueberry, Vanilla and Summer Fruits – which include a blend of mango, guava, passionfruit and pineapple.

    The oat yogurts are nutritionally fortified with high-quality plant-based calcium, vitamin B12, vitamin D, protein and calcium and come with a 4 Health Star Rating.

    Nick Bartram, marketing and strategy GM of Vitasoy Australia, said the business has responded to demand from customers to introduce an additional plant-based yogurt range to the market.

    “Following the incredible consumer response to the launch of our Greek Style Soy Yogurt portfolio last year, we saw an opportunity to diversify the range using an Oat milk base.

    “We were determined to deliver our signature smooth and creamy texture, along with a strong nutritional profile by adding protein and calcium, when developing this range.”

    Belinda Dib, accredited practising dietitian at Vitasoy Australia, said the products combine the soluble fibre present in oats with live cultures found in fermented products and will support gut health.

    Vitasoy Oat Yogurts are now available in select Coles supermarkets nationally and retail for $3 each.

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  • Capilano introduces Hot Chilli Honey for bold flavour seekers

    Capilano introduces Hot Chilli Honey for bold flavour seekers

    Honey maker Capilano has launched a Hot Chilli variant for consumers looking for that “spicy kick” in their food.

    Recommended for drizzling over pizza, wings, ribs, burgers, or toast, the company said the new Hot Chilli is set to redefine honey’s role in home cooking and give food an extra “wow” factor.

    Capilano Hot Chilli Honey combines 100 percent pure Aussie honey from its network of more than 800 beekeepers with savoury, spicy flecks of habanero chilli to create a savoury-style honey for use as condiment.

    In addition, the spicy honey is made with no preservatives or other nasties.

    Fiona Tavian, GM for innovation, Capilano, said studies show that an average Australian household consumes chilli every ten days, and suggest that five million adults enjoy hot sauce once a week.

    “We know Australians are always looking for ways to add excitement to their meals and prioritize natural ingredients,” said Tavian.

    “What a great way to support Aussie beekeepers by tapping into this huge appetite for Chilli products! “

    Capilano’s Hot Chilli Honey is available in a 340g squeeze pack for an RRP of $7.50 at Woolworths and will be stocked in Coles beginning October 2.

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  • Pringles debuts spicy duo: Chipotle Sour Cream and Smokin Cajun

    Pringles debuts spicy duo: Chipotle Sour Cream and Smokin Cajun

    Pringles is sure to fire up the tastebuds of snack aficionados across the country with its latest release, comprised of two new smoking-hot flavors.

    These spicy new Pringles – Sizzlin’ Chipotle Sour Cream and Smokin’ Cajun Spice – are exclusive to Australia and New Zealand and were co-created with Michelin Star Chef Haikal Kohari, who crafted these bold flavors specifically for local tastebuds.

    For those who prefer mild spice, the Sizzlin’ Chipotle Sour Cream Pringles offer snackers some excitement, with the smooth, creamy sour notes balancing out the heat level.

    But for those who crave the heat, the Smokin’ Cajun Spice Pringles will surely get your heart racing with a mouthwatering mixture of spice and tangy citrus.

    Dan Bitti, Head of Pringles and Salty Snacks ANZ said the new Pringles flavors were a result of “18 months” of experimenting to get the “perfect balance of fire and flavor”

    “Across Australia and New Zealand, chip lovers are asking for more interesting and spicy flavors, so Pringles are giving the people what they want with something more daring.”

    “Whether you like snacks fiery or mild, the Smokin’ Cajun Spice and Sizzlin’ Chipotle Sour Cream flavors are both ‘a must try’, packing a punch of flavor and spice to get those taste buds popping.”

    “We can’t wait for Pringles fans to try them and see if they can handle the heat!”

    If you’d like to put your tastebuds to the test with these flavoursome and fiery new Pringles flavours, you can purchase them from Coles today and from Woolworths in mid-September.

  • Tims China aims to open 1700 Popeyes eateries across China

    Tims China aims to open 1700 Popeyes eateries across China

    TH International Limited has set a goal to open 1,700 Popeyes eateries across China in the next decade, a source with direct knowledge of the matter said, after it relaunched the Cajun-inspired fast food chicken chain Popeyes in the country last Saturday.

    TH International, also known as Tims China, took over as the exclusive operator and developer of the Restaurant Brands International-owned Popeyes brand in China from TFI TAB Food Investments in March.

    Tims China, which also operates the Tim Hortons coffee chain in China, also aims to increase the number of Popeyes restaurants in Shanghai to 10 by the end of this year, the source said, declining to be named as the information was not yet public.

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  • A2 Milk reports $1.6 bn in sales despite soft performance in China

    A2 Milk reports $1.6 bn in sales despite soft performance in China

    Specialty dairy company A2 Milk’s full-year profit is up by a third, driven by strong growth in its China section, despite challenging market conditions.

    Though it was expecting growth in the Chinese market to slow next year.

    Key numbers for the year ended June compared with a year ago:

    • net profit $155.6m vs $114.7m
    • revenue $1.59b vs $1.45b
    • underlying earnings $219m vs $196m
    • no dividend vs no dividend but a maximum $150m share buyback.

    Chief executive David Bortolussi said sales from the company’s China label infant milk formula (IMF) exceeded its sales in English-speaking countries for the first time, with the total sales for infant milk formula totaling more than $1.1 billion.

    “I’m proud of what our team has achieved this year, growing sales by 10 percent while the core China IMF market declined by 14 percent is a remarkable achievement,” he said.

    “The China IMF market has become increasingly challenging as a result of lower birth rates and increased competitive intensity.

    “Notwithstanding, we are well-positioned to continue to invest and grow share in FY24 to emerge in a stronger position when the market recovers.”

    Bortolussi said achieving reregistration of the company’s China label IMF product was critical to maintaining access to the company’s domestic market.

    Bortolussi expected to see a double-digit decline in the Chinese infant milk formula market in the 2024 financial year, but said the company expected to achieve “low single-digit group revenue growth”.

    “This is due to volume declines driven by the rolling impact of fewer newborns in recent years on later-stage IMF products, and a lower number of newborns expected in CY23 due to the lagged impact of Covid-19 prior to an expected increase in CY24,” he said.

    “The company will continue to execute its growth strategy in FY24, focusing on growing share in China IMF as well as commercialising opportunities in adjacent categories and new markets.”

    A2 expected to continue to gain market share in IMF, with growth dependent on the extent of market share gains in a declining market, he said.

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  • Krispy Kreme caught posting embarrassing racial slur

    Krispy Kreme caught posting embarrassing racial slur

    Doughnut chain Krispy Kreme is facing a potential fallout after its advertisement campaign for the Australia and New Zealand market was caught containing an offensive racial slur.

    The campaign features four short videos showing that Krispy Kreme doughnuts can be used to celebrate sports events, birthday parties, movie nights, and special milestones.

    In one of the videos, the doughnuts replace the letter ‘o’ in the word ‘congrats’, turning it into ‘coongrats’ and then ‘cooongrats’.

    Creative agency Abel made the campaign in collaboration with Limehouse Production. Abel was appointed to be in charge of Krispy Kreme ANZ’s local creative in May.

    The advertisement has rolled out across social, digital, OOH and in-store media. The video with the word ‘congrats’ has been removed from YouTube, while the other three videos in the campaign are still available on the platform.

    Ad Standards told Mumbrella the body has not received any complaints about the campaign.

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  • Asahi Beverages’ Vibe launches functional soda range

    Asahi Beverages’ Vibe launches functional soda range

    Beverage brand Vibe has launched a functional beverage soda range in three flavours.

    The company says it undertook consumer market research to ensure the drink meets evolving consumer needs.

    Parent company Asahi Lifestyle Beverages’ GM for marketing, Lauren Fildes, said: “When choosing an alternative to soft drink, people want great taste first, then something that’s low in sugar and has a range of functional benefits to choose from.”

    Flavours in the range include – Lemonade Gut – which contains prebiotics for gut microbiota. Lemon Orange Immunity – formulated with beta-glucan to help support immune health and Raspberry Focus – which has caffeine to improve concentration and alertness.

    The range retails for $9.50 and comes in 330 ml cans, available across Woolworths stores nationally.

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  • Dilmah launches luxury artisanal tea range across Coles stores

    Dilmah launches luxury artisanal tea range across Coles stores

    Sri Lanka’s tea brand Dilmah has launched its luxury artisanal tea collection across 650 Coles supermarkets nationally.

    Dubbed ‘85 Reserve’ – the luxury tea range is sold in tin caddies each consisting of 20 large tea bags.

    It comes with six flavours and herbal infusions, namely Peppermint & Cinnamon, Ceylon Spice Chai, Lychee & Vanilla, Ear Grey & Vanilla, Ceylon Green Tea with Mint, and Royal Ceylon Breakfast – the last three will be available in Coles.

    Dilmah chairman Dilhan C. Fernando said Australians are “among the first in the world” to enjoy the range.

    “In the past six months, we have seen a nearly 60 per cent increase in luxury tea sales on the Dilmah Australia e-commerce website, and we are thrilled to offer the retail shopper this same luxury experience.”

    The full range can be bought online on the Dilmah Website.

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  • Coca-Cola franchisee posts $236M revenue in Vietnam

    Coca-Cola franchisee posts $236M revenue in Vietnam

    Swire Coca-Cola, a franchisee of the Coca-Cola Company, recorded a revenue of US$236.32 million in the first six months in Vietnam.

    Its pre-tax profit was around $33.21 million in the period.

    Swire Coca-Cola is a partner of the Coca-Cola Company with a franchise to manufacture, market, and distribute products of the Coca-Cola Company in China, Cambodia, Vietnam, and the western U.S.

    Swire Coca-Cola entered the Southeast Asia market in July last year by purchasing the manufacturing line of Coca-Cola in Vietnam and Cambodia for over $1 billion.

    Leaders of Swire Coca-Cola considered the Vietnam purchase successful as it had made considerable contributions to the company, while its unit in Cambodia is posting a loss.

    Coca-Cola entered Vietnam in 1994, producing its beverage in three factories.

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  • Low prices make Thai persimmons popular

    Low prices make Thai persimmons popular

    Crunchy persimmons imported from Thailand sell for VND35,000 (US$1.5) per kilogram at wholesale markets in HCMC, VND5,000-10,000 lower than the Vietnamese variety.

    My Linh, the owner of a fruit stall in Go Vap District, said she had sold out 100 kilograms of Thai persimmons in two days.”It was very cheap, so I switched to selling Thai persimmons instead of the Vietnamese variety.”

    According to Thanh, the owner of a fruit stall at Ba Chieu market in Binh Thanh District, Thai persimmons are eye-catchingly yellow and sweet, and so attracts customers.

    “Every day, I sell three to five boxes (of 10 kg). Its retail price is VND55,000-60,000 per kilogram, while that of Da Lat persimmon is VND70,000-80,000.”

    A shop owner named Mai in Tan Binh District, who sells several tons of Thai persimmons a day, said due to higher harvests this year the fruit was exported to Vietnam at low prices.

    “I am selling three varieties of persimmons to markets: from Thailand, China and Da Lat. Currently the Thai fruit has the lowest price, with color and uniformity (in terms of size and quality) better than the other two.”

    A manager of the Thu Duc Agricultural Product Wholesale Market said Thai persimmons are being sold in the market for the first time, and are popular thanks to their low price.

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