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 vegetable, fruit exports likely to hit $4B this year

    Vietnam’s vegetable, fruit exports likely to hit $4B this year

    As one of the few sectors reporting export turnover increase in the first quarter of 2023, Vietnam’s vegetable and fruit sector has a bright outlook to earn $4 billion in export revenue this year.

    Vietnam exported nearly $1 billion worth of fruits and vegetables in Q1, up 8% from a year earlier, with the Chinese market recording an impressive growth of 23%.

    Dang Phuc Nguyen, Secretary General of the Vietnam Fruit Association (Vinafruit), attributed the result to the signing of protocols on exports of durian, sweet potato and banana to China through official channels.

    The export of pomelo to the U.S., and passion fruit to New Zealand was also a driver for the overall growth of the sector.

    Durian was a big contributor to the impressive export results in the first months of this year. The export turnover of this fruit is expected to hit $1 billion, helping the sector’s total figure to $4 billion this year, up 20% year-on-year, said Nguyen.

    The implementation of free trade agreements is also an important driving force helping fruit and vegetable exports to increase sharply in the first months and make an important contribution to boosting the sector’s exports throughout the year.

    Good demand for fruit imports in China can help raise total fruit and vegetable exports in Q2 by 10% or higher, Nguyen noted, predicting that the revenue can reach about $2 billion in the first half of 2023.

    Vinafruit has proposed the Ministry of Industry and Trade (MoIT) and other ministries and agencies, especially the Vietnam Trade Office in China, study and negotiate for the signing of more protocols for several officially-exported products such as dragon fruit, mango, watermelon, jackfruit and rambutan, together with the opening of markets for other fruits such as green-skinned pomelo, fresh coconut, avocado, lemon, pineapple and star apple.

    Besides China, it is also necessary to step up trade promotion activities in other markets such as the U.S., China, the Republic of Korea and Australia, said Nguyen.

    According to the Vinafruit Secretary General, the greatest difficulty at present is that there are not many planting area and packing facility codes to meet the requirements of the Chinese market. Currently, there are only 246 planting area and nearly 100 packing facility codes granted, much lower than the respective 20,000 and 2,000 of Thailand.

    With an area of nearly 110,000 hectares, and an output of around 1 million tonnes per year, there will be a bottleneck in durian exports to China, if no more planting area code is granted this year.

    He also suggested the MoIT and other ministries and sectors to call on investment and advanced technologies for processors to improve the export value, and gain a firmer foothold in such choosy markets as the U.S. and the EU.

    Vietnam Trade Offices abroad were advised to regularly organize Vietnamese fruit festivals to introduce the fruits to people in their host countries and international visitors.

    Vietnam earned nearly $3.4 billion from vegetable and fruit exports last year.

  • King crab prices skyrocket as supply dries up

    King crab prices skyrocket as supply dries up

    King crabs have risen to their highest prices ever of VND2.5-3 million (US$106-128) a kilogram, following a 30% increase since the end of last year.

    Loan of HCMC’s District 5 tried to buy a king crab for her son’s birthday last week, but was shocked when she discovered the price.

    “It was VND1.9 million a kilogram at the end of last year, but now every seafood store sells it at VND2.5 million.”

    In Hanoi, red king crabs weighing two to five kilograms now cost VND3 million a kilogram, or VND6-15 million per crab, the highest price ever.

    Tran Van Truong, CEO of Hoang Gia Seafood, said that supply from the U.S. and Canada is scarce, causing prices to spike in Vietnam.

    “Though we are the official importer, we are getting very few crabs now.”

    Not only king crab, but also snow crab and Alaskan lobster prices are higher now due to low supply.

    Some coastal areas in Alaska State in the U.S. had to cancel the crab-catching season because outputs were getting lower.

    A researcher in Alaska, Benjamin Daly said on U.S. cable TV channel CNN that snow and king crab catches are plummeting because they are on the verge of extinction due to excessive fishing.

    The Alaskan Fishery Council and the North Pacific Fishery Management Council recently announced that the snow crab population in the Bering Sea has fallen below the threshold for fishing.

    The Bristol Bay red king crab harvest will also be canceled for a second year.

  • Funday Sweets launches new low-sugar sour cola gummies

    Funday Sweets launches new low-sugar sour cola gummies

    Funday Natural Sweets has announced Sour Cola Gummies as the latest addition to its line-up of better-for-you confectionery.

    In line with the rest of the Funday Natural Sweets range, the Sour Cola Gummies have no sugar added, no sugar alcohols, and only natural colours and flavours, and each bag contains seven grams of prebiotic fibre.

    The launch will be backed by more than 200 influencers, with a reach of more than 13 million followers, in a combined marketing attempt to reach more Australians who are looking for a healthier confectionery alternative.

    Funday Natural Sweets’ Sour Cola Gummies launch today through Woolworths, Ampol Foodary, Chemist Warehouse, Harris Farms, and health food and independent supermarkets across Australia. They will also be available at Chemist Warehouse in New Zealand, as well as in the Asian and Middle Eastern markets.

    And in news that will help Funday Natural Sweets to push further into the petrol and convenience channel, the brand has announced that it has just signed up with Australia’s leading national confectionery distributor, The Distributors.

    Founder Daniel Kitay says that in the two years since the company has launched, he has observed that the appetite in Australia for better-for-you confectionery has been steadily growing.

    “Our goal is to continue to surprise our existing fanbase with new, exciting flavours and to win over people who haven’t tried our range yet. People are always surprised by how amazing natural lollies can taste once they try them,” he says.

  • DNA Distillery launches European drink Rakija in a can

    DNA Distillery launches European drink Rakija in a can

    DNA Distillery has teamed up with Sydney’s inner west restaurant Baba’s Place to launch Rakija & Tonic in a can format.

    Rakija is a collective term for fruit spirits loaded with botanicals, consumed in the Balkan and Slavic regions of Eastern Europe.

    DNA Distillery’s Rakija is made with fermented and double-distilled Australian Shiraz grapes.

    Co-founders of DNA Distillery, cousins James Projcevski and Monique Sutevski, described the brew as the “perfect beverage” for family gatherings, parties and events.

    “DNA Distillery is the legacy of our ancestors; a tradition passed down from generation to generation, from Europe to Australia. Our Dedo’s recipe was so famous in the village that people would travel by foot for the chance to taste it.”

    The Rakija cans are now available online from the DNA Distillery website with a four-pack retailing for $29 and a 16-pack retailing for $109.

  • Maltesers unveils dessert-flavoured range into Woolworths

    Maltesers unveils dessert-flavoured range into Woolworths

    Confectionery brand Maltesers has launched a dessert range inspired by German and Italian treats.

    The range comes in two flavours: Dark Choc Black Forest Gateau which offers a crisp malt centre, dark chocolate with hints of cherry and sponge cake and Milk Choc Tiramisu which has coffee and whipped cream notes coated in rich milk chocolate.

    Mars Wrigley’s bitesize portfolio director, Drew Davis, said the new products “marked an exciting time” for the brand.

    “The new range delivers a top-notch, premium dessert experience in a simple bitesize format. It’s the first time we’ve created a product like this and we’re anticipating consumers to really enjoy what I believe feels like an indulgent experience.”

    The range is available in Woolworths stores nationwide and will be rolled out to other retailers in July.

  • Seafood exporter Minh Phu suffers $4.1M loss in Q1

    Seafood exporter Minh Phu suffers $4.1M loss in Q1

    Minh Phu Seafood, one of the country’s biggest shrimp processors, reported a loss of VND95 billion ($4.1 million) in the first quarter, ending its seven-year profitability streak.

    Its revenues fell by half year-on-year to VND2.1 trillion.

    The gross profit margin almost halved from over 11% to less than 6%, while interest on borrowings nearly tripled, contributing to the huge loss.

    In the comparable period last year it had earned profits of VND100 billion.

    For the full year it targets revenues of VND18 trillion and profits of VND1.1 trillion.

    Last year profit growth was in double digits and the highest in a decade.

    According to Agribank Securities JSC, the results of shrimp export companies, including Minh Phu, are bleak because demand in key markets such as the U.S. and EU was weak during the quarter.

  • Vietnamese fruit exports to China and Laos surge

    Vietnamese fruit exports to China and Laos surge

    The export of bananas, durians, and jackfruit from Vietnam to China and Laos surged in the year’s first four months.

    The export value of vegetables and fruits reached $1.39 billion, up 19.4% over the same period last year, according to the Ministry of Agriculture and Rural Development.

    China led the consumption of Vietnamese fruits and vegetables with 58.7% market share, valued at $576.4 million in the first quarter of the year, up 27.4% over the same period in 2022.

    Laos, South Korea and Japan also increased imports of Vietnamese fruits. Exports of Vietnamese vegetables and fruits to Laos increased the most, by 2.8 times.

    Durian, jackfruit and banana had a significant increase in exports. In the first quarter, Vietnam’s durian export turnover reached $153.5 million, up more than 8.3 times over the same period last year. China accounted for 87% of the market share with a turnover of $133.6 million.

    Thousands of tons of durian have been exported to China every month. Vietnamese durians are ordered in large quantities because of their good quality, suitability for local tastes and prices that are more attractive than produce from Malaysia and Thailand.

  • Domino’s Pizza eyes 420 more stores in China after Hong Kong IPO

    Domino’s Pizza eyes 420 more stores in China after Hong Kong IPO

    Following its successful Hong Kong IPO in March, DPC Dash, the master franchise of Domino’s Pizza, is accelerating its expansion in China, debuting in three new cities on the same day last week.

    The company says it aims to open another 180 new stores this year and 240 next year.

    DPC Dash entered the cities of Qingdao, Changzhou, and Wenzhou last Saturday, taking the store count to 638 as of April 30.

    “The recent listing was a great achievement for DPC Dash as well as for our global franchisor, Domino’s Pizza,” said Frank Paul Krasovec, director and chairman at DPC Dash.

    “With the newly raised proceeds, we aim to expand across the greater China region aggressively and to bring our comprehensive product offerings to hundreds of millions of potential Chinese consumers.”

    According to DPC Dash, the business established its first location in Jinan in December, setting new records for both the best opening sales for the first week and the best opening sales month for the first 30 days for Domino’s worldwide. By turnover, the top four trading stores in Domino’s global network are new locations opened by DPC Dash in Jinan, Chengdu, and Wuhan during the past five months.

    DPC Dash has been operating Domino’s Pizza since December 2010, when it purchased Pizzavest China Ltd, Domino’s Pizza’s then-master franchisee in several Chinese provinces. DPC Dash renewed the master franchise agreement with Domino’s Pizza International Franchising Inc in June 2017 and expanded the franchise territory to include the entire China mainland, Hong Kong and Macau.

    The company says the new Domino’s Pizza stores emphasise online channels through delivery and carryout services, which the company believes it can replicate in other markets in China.

  • Coconut prices bounce back after sharp drop during Covid

    Coconut prices bounce back after sharp drop during Covid

    Prices of dried coconut in Ben Tre Province, the Mekong Delta coconut-farming hub, have recovered to VND3,300-4,200 (US$14-18 cents) per fruit after falling steeply in the last two years.

    “The prices are the highest in the last two years” when nut exports fell due to the Covid pandemic, Huynh Phuc Hau, who owns two hectares of coconut trees in the province’s Giong Trom District, said.

    Before the pandemic, prices were VND5,800-6,700 for dried coconuts, enabling him to earn VND6-10 million a month by selling them.

    Nguyen Van Binh, a trader in Ben Tre City, said due to the low prices in recent times many coconut farmers neglected their orchards and even switched to growing other fruits, resulting in decreased output of coconut and lower quality.

    Now he manages to buy 700-900 coconuts a day, half the volume at this time a few years ago.

    Huynh Quang Duc, deputy director of the Ben Tre Department of Agriculture and Rural Development, said the global market for coconut has begun to recover after the pandemic, and so prices are increasing again.

    The province hopes the nut could be exported to the U.S. and China, two major markets, under official quotas, he said.

    Ben Tre has over 74,000 hectares of coconut orchards, or 50% of the country’s total area, and an annual output of 690 million dried coconuts, whose copra is used for processing including oil extraction.

    Some 62% of the province’s population depends on coconut trees for its main source of income.

  • Vietnam’s coffee export could reach $4B

    Vietnam’s coffee export could reach $4B

    Domestic coffee prices are at high levels, providing opportunities for Vietnam to maintain a coffee export revenue of over $4 billion this year.

    According to Mercantile Exchange of Vietnam (MXV), Robusta averaged $2,564 per tonne as of April 24 on ICE Futures Europe, which increased by nearly 40 compared to the beginning of this year.

    Starting from early 2023, the market saw signals about the narrowing of supplies in major coffee-producing countries.

    Statistics from the Vietnam General Department of Customs showed that Vietnam’s coffee export totalled more than 634,000 tonnes from the beginning of this year to April 15, lower than the result of 663,816 tonnes of the same period last year.

    The drop in export volume occurred in the context that global coffee prices were at a high level, pushing up domestic prices to around VND52,000 per kg, a record high, according to giacaphe.com.

    Besides, the coffee output of Indonesia, the world’s third largest Robusta producer, is forecast to be at around nine million tonnes, the lowest in the past decade, according to Volcafe. The Brazil National Supply Company forecast Robusta output of this country would drop by nearly 4 compared to the 2022-23 harvest to 17.51 million bags.

    These figures show that there is not only a shortage of coffee in the short term but also a narrowing in coffee supply in the medium and long term, which will likely push up coffee prices.

    Pham Quang Anh from MXV said that Vietnam’s coffee inventories were gradually shrinking after a record coffee export year. Additionally, the coffee output in 2022 dropped sharply by 10-15 compared to the initial forecast due to heavy rain in the harvest period, which made the supply tight and price increase inevitable.

    Currently, domestic coffee prices were at a high level compared to recent years, creating an opportunity for Việt Nam to maintain the export value of more than 4 billion USD in 2023.

    Lower prices of Arabica than Robusta in the context of increasing concerns about global economic recession risks was an important factor for Vietnam to promote the export of coffee.

    It was an ideal condition for Vietnam to increase the export of Robusta and affirm the position of being the world’s largest Robusta supplier, Anh said.

    Still, Vietnam’s coffee industry should aim for more sustainable export in the long term.

    While coffee export was narrowing down, farmers in Tay Nguyen (Central Highlands) tended to cut down coffee trees to grow durian as China had allowed the official import of durian from Vietnam.

    Another problem was that Vietnam mainly exported coffee in raw forms, which must be tackled to increase added value.

    He urged enterprises to invest in production and processing to increase added value and develop brands for coffee products to meet the tastes of consumers in different markets.

  • Starbucks profits beat on China recovery

    Starbucks profits beat on China recovery

    Starbucks Corp beat Wall Street estimates on Tuesday for quarterly profits, powered by a sharp recovery in business in China, but shares fell about 6% in after-hours trading after the company did not lift its 2023 guidance.

    With most of China’s COVID-19 curbs now scrapped, consumer mobility and spending in the region bounced back sharply in March.

    Even so, some analysts had expected China sales to remain in the red after tumbling 29% the previous quarter.

    Instead, the world’s largest coffeehouse chain posted a 3% rise in China comparable sales in its second quarter ended April 2, helping boost international sales 7%, more than double the 2.94% increase of the average analyst’s estimate, according to Refinitiv data.

    While the China recovery was better than the company expected, growth in average weekly sales there will be at a more moderate pace in the second half, Chief Financial Officer Rachel Ruggeri said during an earnings call.

    “We’ve already seen it start to moderate,” she said, noting uncertainty about consumer behavior and international travel. “So when we consider all of that, when we look at our guidance for the full year, we believe reaffirming our guidance allows us to continue to convey the momentum, but also for the confidence we have while still navigating a rather uncertain environment globally.”

    Restaurant shares broadly have outperformed the S&P 500 Index this year, and McDonald’s Corp and others reported a strong quarter.

    Some Starbucks investors may have taken profits after Starbucks’ stock jumped 16% in the past five weeks with “a pretty big run” into the earnings report.

    Globally, Seattle-based Starbucks’ comparable sales climbed 11%, trouncing analysts’ expectation of a 7.36% rise.

    According to the earnings release, customers visited more often and spent more per trip. Starbucks earned 74 cents per share, excluding one-time items, beating estimates of 65 cents.

    Starbucks, whose customers are typically younger, wealthier and relatively unfazed by inflation, has doubled down on its cold and customizable beverages, boosting traffic in the U.S. and driving a 12% jump in comparable store sales in its North American market.

    According to its earnings release, the chain also keeps adding customers to its rewards program, which now has 30.8 million active members in the United States, up 15% over this time last year.

    And it is building more cafes, adding 100 net new stores in North America and more than 360 internationally.

  • Japanese cafe chain Mister Donut enters Singapore

    Japanese cafe chain Mister Donut enters Singapore

    The wait is almost over for Japan’s famed Mister Donut chain to launch in Singapore. Its first store opens on May 21 at Bishan’s Junction 8 mall. It will sell its iconic Pon de Ring doughnut – known for its crisp exterior and fluffy, mochi-like texture – which comes in a variety of flavors, including strawberry and chocolate.

    Other sweet treats include the Custard Strawberry French Cruller doughnut, Golden Chocolate ring and Honey Dip doughnut. The store will also sell a Singapore-exclusive Strawberry Chocolate doughnut.

    All doughnuts are priced between $2.30 and $2.50 each.

    Bundle purchases are available at $14 for six or $23 for 10. However, each customer can buy only a maximum of 10 doughnuts and no more than four Pon de Ring doughnuts.

    The doughnuts will be produced on-site in small batches by staff who went for training at the Mister Donut Academy in Osaka.

    While Mister Donut was founded in the United States in 1956, the chain became internationally famous after it was established in Japan in 1971. There are more than 900 stores across Japan.

    Its launch in Singapore is a franchise brought in by local food and beverage company RE&S Enterprises. RE&S’ stable of restaurant brands focused on Japanese cuisine includes Ichiban Boshi, Shimbashi Soba and Kuriya Dining.

    In July 2022, RE&S Enterprises ran a Mister Donut pop-up at Jurong Point, which sold 83,000 doughnuts in one month.

    The plan is to open at least nine stores here in three years, including larger-format cafe concepts with seating at some locations.

  • Chinese cafe chain Mellower Coffee exits Vietnam

    Chinese cafe chain Mellower Coffee exits Vietnam

    Café owner Liu Houjun gained a little online fame with his unique coffee brewing bravura. Formerly the director of a listed company, the coffee lover, in his 50s, decided to quit his job and open a coffee shop to develop innovative blends.

    “Different regions in the world all have their own ways of making a cup of coffee with local characteristics. I figured maybe we, as Chinese, could also invent our own unique coffee extraction method,” Liu said. And invent he did. After slowly adding water to the ground coffee powder, he puts the container into a pressure cooker filled with water and boils it extensively to complete the extraction.

    He explained that this process leaves the coffee with a smoother and lighter taste, much to the palate of many customers, contributing to the shop’s 70 percent returning customer rate. Apart from his special coffee-brewing technique, Liu has fashioned a range of innovative coffee products, like espresso made with the help of yogurt and rice wine.

    “I hope more of these Chinese-style coffee varieties can reap some worldwide recognition,” Liu said.

    According to YiMagazine, a financial media outlet in China, Shanghai currently has about 7,000 coffee shops, excluding coffee services in convenience stores and fast-food restaurants, ranking first nationwide—or even worldwide. The number of coffee hangouts per 10,000 people in Shanghai is 2.85, similar to that in London, the UK, New York, the U.S., and Tokyo, Japan.

    Major chains like Starbucks and Costa Coffee account for 35 percent of total coffeehouses in Shanghai, the report added. Luckin Coffee, one of China’s largest coffee chains established in 2017, quickly expanded by weaving some marketing magic combining expedient delivery service and discounts.

    “Many people believe it was Luckin that showed Chinese customers who had been less familiar with coffee the ropes, lifting the entire market to its next level,” said Zhang Mingzhu, General Manager of Mellower Coffee, a Chinese specialty coffee company.

    To attract more customers, many café proprietors are seeking state-of-the-art suggestions to give their place that little extra pizzazz. Coffee is mixed with more commonly spotted ingredients sitting next to a traditional Chinese meal, like soybean milk, tangerine peel, or even Moutai, a prominent brand of distilled Chinese liquor. Among the innovations, latte with sweet-scented osmanthus, the aromatic flower that is native to China and prized for its intoxicating, apricot-like scent, proved most popular, with more than 60,000 searches on Dianping.com, a Chinese restaurant review site, in 2021 alone. The search term “Chinese-style coffee” was entered over 280,000 times.

    According to another Dianping.com report released in December 2021, specialty coffee, often called quality coffee, is gaining popularity among customers in Shanghai. The term refers to coffee that has scored over 80 points on a 100-point scale by the Specialty Coffee Association of America.

    The group aged between 20 and 40 is the main consumers of this coffee type in Shanghai, with women accounting for 60 percent. Compared with 2019, the proportion of student consumers in the past year has increased by nearly 2.4 times. They usually opt for a boutique coffee shop to study, socialize, or take a break. People over the age of 50, too, have become more curious about and fond of specialty coffee. Compared with 2020, this group’s orders have increased by nearly 143 percent.

    “The quality of coffee beans is not the only customer focus; the ways of brewing and extraction, as well as the uniqueness and creative designs of coffee shops, all play a vital part,” said Zhang Xueqiang, Chairman of the Coffee Professional Committee of the Shanghai Food Industry Association, adding that Shanghai specialty coffee is entering a golden age of development.

    Shanghai-based entrepreneur Wu Yue told Beijing Review that in the past, he would invite potential business partners to a restaurant to talk shop; they might even go out for some drinks after. “But today, I usually take my prospective business partner to a coffee or tea shop, as it is healthier and more efficient. I’ll take a date there as well,” 28-year-old Wu said.

    Ample supply

    Many coffee shops in Shanghai flourish on an ample supply of coffee beans from Yunnan Province. One such example is Mellower Coffee, established in 2011 in Kunming, capital of Yunnan, and now headquartered in Shanghai, with chain stores in other parts of China, as well as in Singapore and the Republic of Korea. Yunnan is the largest coffee-growing province in China and, for years, the province’s yield has accounted for more than 98 percent of the country’s total. According to the Yunnan provincial department of agriculture and rural affairs, 131,000 tons of coffee beans were produced in the province in 2020.

    Pu’er City is one of Mellower Coffee’s main sources of coffee beans aside from other places in major coffee-producing regions like Ethiopia, Kenya, Colombia and Guatemala. The city’s coffee plantation area, output and value ranked No.1 in the nation in 2021. And it’s also a famous tea-growing area.

    Yunnan’s coffee history dates back to the 1950s, when scientists began researching planting there. The year 1988 was the starting point for Yunnan coffee to make its mark beyond China, when the local government launched a coffee assistance project, assisted by the United Nations Development Program and the World Bank. Swiss food and beverage giant Nestlé introduced new bean varieties and smart production technologies to Pu’er, and other places, transforming Yunnan into a global golden belt for its coffee cultivation.

    Coffee grows in semi-tropical climates with an average temperature of 20 to 27 degrees Celsius and abundant rainfall, making Pu’er the perfect candidate.

    However, Yunnan coffee was considered a relatively mediocre variety in the past as its quality fluctuated due to inexperienced production, unexpected bad weather occurrences and insect plagues, according to Hua Runmei, a coffee entrepreneur in Pu’er.

    A price drop further dampened the incentive to improve its quality. “With the development of the global coffee market, mechanization and large-scale production and processing in Brazil, Viet Nam and other countries, the price of traditional commercial coffee beans has gradually fallen, making it less profitable for farmers,” she said.

    Hua can recall her grandfather and parents growing coffee beans for a living ever since she was little. “Though they were cultivating it, farmers of their generations never actually tried the coffee, let alone study it and see how to improve the taste, which is vital in market competition,” Hua said. She added that the younger generation today can open up more possibilities for coffee plantation by transforming it, developing specialty varieties and adopting digital technology throughout the entire process, rendering product quality high and unwavering.

    Hua is currently preparing to launch her own brand, creating more coffee-related products and contributing her share to making quality Pu’er coffee known across the globe.

  • Ferrero launches frozen dessert range

    Ferrero launches frozen dessert range

    Italian chocolate maker Ferrero will add two new frozen treats to Woolworth’s freezer aisles later this month.

    The range – which allows Aussies to enjoy Ferrero Rocher and Raffaello on a stick for the first time –  comes in two flavours: chocolate hazelnut and coconut.

    “Our experts have spent years crafting these recipes inspired by two of our much-loved brands – Ferrero Rocher and Raffaello,” said Azzurra Puricelli, marketing manager at Ferrero Australia.

    The Ferrero Rocher Classic frozen desserts combine the flavor of the famous chocolate with hazelnut and come with a crispy white coating comprising coconut shavings and almond pieces.

    Ferrero Rocher and Raffaello 4-stick multipacks will be available exclusively in Woolworths stores nationwide with an RRP of $12.

    Last month, Ferrero Rocher unveiled its Easter collection this year, which featured 11 limited-edition creations and new chocolates.

  • Durian prices plunge 40% in a month

    Durian prices plunge 40% in a month

    Ri6 durian prices grown in the Mekong Delta have plunged by 30-40% to VND50,000-55,000 ($2.13-2.34) per kilogram from early April.

    Prices in the localities of Tien Giang, Ben Tre and Can Tho, where most of the fruit is grown, have plummeted 70% since early February.

    Vendors say that prices have fallen because Chinese buyers have reduced purchases.

    “There is a large supply of Ri6 durian. Some farmers harvest hundreds of tons daily,” said vendor Linh in Tien Giang.

    She added that the Chinese buyers she knew were not rushing to buy more as durian in Thailand and the Philippines were also starting to ripen for harvest.

    Thailand has long been exporting large quantities of durian to China, while the Philippines obtained permits to export to this country earlier this year.

    China is also growing its own durian to meet domestic needs. The country has over 93 hectares of the fruit on Hainan Island.

    Laos has agreed to set aside 30,000 hectares of agricultural land to grow durian specifically for the Chinese market, equivalent to around 27% of Vietnam’s durian farming area.

    Vietnamese durian was the fastest-growing export to China among fruits in the first two months of this year, rising by 291% year-on-year to $56.9 million.

    The country’s farming area reached 110,000 hectares by the end of last year after the country was allowed to export the fruit to China officially. This exceeded the government’s plan by nearly 47%.

    Two main types of durian grow in the region, Ri6 and Monthong.