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Tag: diner

  • Haidilao’s Pig Blood Curd Now Available Island-Wide as Singapore Lifts 27-Year Ban

    Haidilao’s Pig Blood Curd Now Available Island-Wide as Singapore Lifts 27-Year Ban

    Haidilao, the renowned hotpot chain, has recently begun offering pig blood curd across all its Singapore locations, marking the end of a 27-year prohibition. In an announcement made on social media last Tuesday, Haidilao Singapore revealed that the dish would be available from May 28.

    The specialty will retail at S$8 per serving at its outlet in Marina Bay Sands, while all other locations will offer the dish at S$6 per serving. Moreover, Haidilao has launched a promotional offer valid until June 30, which slashes the prices to S$4 and S$3 per serving respectively, subject to stock availability.

    Previously, Singapore had implemented a ban on animal blood food products, including pig blood and duck blood, following the 1999 Nipah virus outbreak. However, the tide turned in April when the Singapore Food Agency authorised the importation of heat-treated pig blood products from Bangkhla Pig Slaughterhouse, a recognised supplier based in Thailand.

    Questions & Answers

    Why has Haidilao started serving pig blood curd in Singapore?
    Haidilao has introduced pig blood curd to its Singapore menu following the city-state’s decision to lift a 27-year ban on animal blood food products.

    What is the price for a serving of pig blood curd at Haidilao?
    At Haidilao’s Marina Bay Sands outlet, pig blood curd is priced at S$8 per serving. However, all other locations serve it at S$6 per serving.

    Why was there a ban on animal blood food products in Singapore?
    The ban was put in place following the Nipah virus outbreak in 1999, which led to the prohibition of animal blood food products, including pig and duck blood, in order to protect public health.

  • Chipotle Announces Expansion Into Asian Market Starting With South Korea And Singapore

    Chipotle Announces Expansion Into Asian Market Starting With South Korea And Singapore

    Chipotle, a popular American fast-casual restaurant chain, has announced plans to penetrate the Asian market in the coming year. The expansion will begin in South Korea and Singapore, through a strategic collaboration with SPC Group.

    Chipotle’s Asian Debut

    The rapidly growing interest in international food and exceptional culinary experiences among Koreans and Singaporeans makes these two markets the perfect launching pad for Chipotle’s Asian journey. This perspective was shared by Heesoo Hur, the Executive Vice President and Owner of SPC Group, who underscored the familiarity and appreciation for the brand in these countries.

    Chipotle’s reputation for offering personalized meals using fresh ingredients, with an assortment of burritos, bowls, tacos, and salads, resonates well with the evolving food preferences in these markets. Customers can craft their meals from an array of fillings served from an assembly line, making each meal a unique dining experience.

    A Promising Growth Opportunity

    According to Chipotle’s CEO, Scott Boatwright, the move to expand into Asia represents an enormous growth potential for the brand. With the increasing demand for real, fast-prepared food coupled with significant brand recognition among consumers, he anticipates strong adoption rates from the onset.

    This expansion to Asia trails Chipotle’s series of international openings. In 2023, the company started its Middle Eastern operations by signing an agreement with Alshaya Group, resulting in six Chipotle restaurants across Kuwait and the UAE. Furthermore, Chipotle has already announced plans to establish its first eatery in Mexico next year through a deal with Alsea.

    Currently, Chipotle operates over 3,800 restaurants across the globe, with plans to inaugurate up to 345 additional locations this year. The company also aims to reach a long-term target of 7,000 restaurants in the US and Canada.

    Questions & Answers

    Why has Chipotle chosen South Korea and Singapore as its entry points in Asia?
    These markets were selected due to their familiarity with the brand and their evolving interest in international culinary experiences.

    What makes Chipotle’s dining experience unique?
    Chipotle offers customers the opportunity to customize their meals with fresh ingredients, creating a personalized dining experience.

    What are Chipotle’s future expansion plans?
    In addition to its Asian debut, Chipotle aims to open up to 345 new restaurants this year, with a long-term target of 7,000 locations in the US and Canada.

  • Japanese restaurant chain Pepper Lunch to launch in Mongolia

    Japanese restaurant chain Pepper Lunch to launch in Mongolia

    Japanese restaurant chain Pepper Lunch plans to open its first store in Mongolia next year, as part of its global expansion strategy.

    The brand has signed a franchise deal with local distributor Bluemon Group, making Mongolia its 17th country.

    “We signed a master franchise agreement with our Mongolian franchise partner yesterday,” Yuto Tago, global CEO of Pepper Lunch wrote on his LinkedIn account.

    “I cannot wait to see the first restaurant opening next year!”

    Pepper Lunch is a DIY casual eating concept with more than 400 locations around Japan, Asia, and Australia. Founded by a trained chef, Kunio Ichinose, the restaurant focuses on premium steaks, pasta, and cheese curry rice.

    Pepper Food Service sold the Pepper Lunch franchise to J-Star Investment Fund for US$79 million in 2020.

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  • Philippines spends $1.2B on Vietnamese rice in H1

    Philippines spends $1.2B on Vietnamese rice in H1

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

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

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

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

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

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

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  • Philippines lowers rice import tax to 15%

    Philippines lowers rice import tax to 15%

    The Philippines, one of the world’s largest rice buyers, has announced a reduction in rice import taxes from 35% to 15%, effective from early this August through 2028.

    This can be seen as the latest action by the Philippine government to tackle inflation, especially increasing rice prices in the market so far this year.

    In the first quarter of 2024, the Philippines’ economy was relatively stable, except for the price increase of some essential consumer goods, particularly rice, which saw an increase of about 24.4%. The rice prices account for approximately 9% of the Consumer Price Index (CPI) of the Southeast Asian country.

    According to the Vietnam Trade Office in the Philippines, Vietnam’s largest buyer to date, accounting for over 80% of the total rice imported into the Philippine market.

    As of May 23, Vietnam exported 1.44 million tons of rice to the Philippines, accounting for 72.9% of the country’s total grain imports. The Philippines’ reduction of the rice import tax is said to increase opportunities for Vietnamese rice in the market.

    Latest data from the Department of Agriculture’s Bureau of Plant Industry, the Philippines’ total rice imports rose by 20.3% to 1.97 million tons in the reviewed period. The country’s total rice imports are estimated to reach about 4 million tonnes in 2024.

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  • Musang King durian moon cake prices up 10%

    Musang King durian moon cake prices up 10%

    Musang King durian moon cake prices, made with the popular durian variety originally from Malaysia, have increased by 2-10% year-on-year in Vietnam.

    Their cost ranges between VND900,000 ($37.90) to VND1.7 million per box. Last year, the most expensive product sold for around VND1.5 million.

    Hoang Anh, a moon cake vendor in Ho Chi Minh City’s District 3, sold out 500 boxes of Musang King and Black Thorn moon cakes in two weeks last year.

    She has doubled her imports this year.

    “We have to order five months in advance as the manufacturer needs to prepare durian beforehand.”

    A major distributor in HCMC plans to sell nearly 30,000 cakes this year, triple the amount last year.

    The cakes are mostly imported from Malaysia. Other markets that also sell them are Singapore and Hong Kong.

    Industry insiders say prices have gone up due to rising ingredient costs.

    Moon cake is a popular type of desert in Asian countries. It is often enjoyed during the Mid-Autumn Festival in the middle of Lunar August, which falls on Sep 29 this year.

  • Gordon Ramsay to open first Street Pizza restaurant in Southeast Asia

    Gordon Ramsay to open first Street Pizza restaurant in Southeast Asia

    The highly anticipated Street Pizza concept by celebrity chef Gordon Ramsay is set to make its debut in Malaysia, marking the restaurant’s first location in Southeast Asia. Originally established in London in 2018, Street Pizza is known for its unlimited sourdough pizzas with a variety of toppings and sides, including hot wings, dirty fries, and cocktails. The restaurant boasts a lively atmosphere, with urban art, live music, and big screens playing sports games to keep diners entertained. Moreover, guests can enjoy a seamless experience using the restaurant’s mobile app.

    Scheduled to open in the third quarter of 2023, the Street Pizza location in Kuala Lumpur will be situated in the Sunway Pyramid shopping mall, offering an exciting new dining option for visitors to Sunway City Kuala Lumpur and guests staying at the destination’s three hotels. This is part of the brand’s vision to have a Street Pizza on every corner of the world, following its expansion in the UK—Battersea, Southwark, City of London in St Paul’s, Liverpool and Edinburgh, and internationally in Dubai, Seoul, and Doha, with Washington DC (USA) set to open later this year.

    According to Alex Castaldi, Senior General Manager of Sunway City Kuala Lumpur Hotels, “Malaysians love pizza and Street Pizza offers pizza without rules. It’s not just about the awesome food, it’s also the vibe.” This statement shows the restaurant’s appeal to the Malaysian market and its potential to become a favourite among locals and tourists alike. The launch of Street Pizza follows the successful opening of Gordon Ramsay Bar & Grill in Malaysia in 2022, which showcases the chef’s iconic dishes, such as the classic Beef Wellington.

  • Seafood exports plummet

    Seafood exports plummet

    Seafood exports to most major markets have fallen by 17-50% this year.

    According to the Vietnam General Department of Customs, shipments to the U.S. fell by more than 50% year-on-year to US$284 million.

    Exports to Australia were down 30% to $65 million.

    Despite China’s reopening, exports to this market were worth only $279 million, 23% less than last year.

    Japan, South Korea, and Thailand imported 7-17% less than last year.

    Overall exports were down 28% year-on-year in the first quarter to US$1.8 billion.

    Key items such as pangasius, shrimp and tuna saw 30-37% declines, while exports of crab and other products were down 2-42%.

    The figures are alarming for the fisheries industry.

    According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the industry is facing great challenges as global inflation has hit demand.

    Fisheries output has fallen since fishermen and aquaculture businesses lack capital.

    Production, raw material and labor are rising, making it harder for Vietnam’s products to take on competition from Ecuador, India, Thailand, and Indonesia in major markets.

    Businesses are also in a bind because the European Commission has not lifted the yellow card it had issued to Vietnam for illegal, unreported and unregulated fishing.

    VASEP expects seafood exports to only recover in the third quarter and only if there are support policies to reduce taxes, roll over loans and subsidize loan interest.

    The government deferred payment of taxes (VAT, corporate income tax, personal income tax) and land rentals for a fifth time last week to help ease the burden on businesses.

    It also reduced VAT to 8% though it must first be approved by the National Assembly.

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  • Jollibee Foods Corporation gears up to open 600 stores this year

    Jollibee Foods Corporation gears up to open 600 stores this year

    Home-grown fast food giant Jollibee Foods Corp. (JFC) is planning to expand its global presence by opening up to 600 new stores this year.

    In a Thursday disclosure to the Philippine Stock Exchange, JFC said it plans to open 550 to 600 owned and franchised stores in 2023.

    With this, the company expects its capital expenditures to range from P17 billion to P19 billion this year.

    This year, the quick-service restaurant chain’s expansion plan could be the biggest in its history, exceeding the record 542 stores openings in 2022.

    At the end of 2022, JFC operated 6,480 stores worldwide —3,285 in the Philippines and 3,195 internationally.

    The company booked a net income of P7.338 billion in 2022, up 33.4% from P5.502 billion in 2021 driven by P211.9 billion in revenues, which grew by 38% year-on-year.

    “Looking ahead, while we expect macroeconomic challenges to persist in 2023, we are confident that the JFC Group is resilient and well-positioned to drive near-term growth. We have clear priorities on profitability while we continue to invest strategically to deliver long-term growth and value for our shareholders,” said JFC CEO Ernesto Tanmantiong.

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  • South Korean restaurants feel the pinch of surging delivery costs

    South Korean restaurants feel the pinch of surging delivery costs

    Higher demand for food delivery workers has ramped up the industry’s labor cost. The rapid growth of South Korea’s food delivery market during the COVID-19 pandemic has inadvertently caused a sharp rise in delivery fees, leaving small business owners and consumers struggling to cope with the added costs, Korea Bizwire reported.

    According to a government-issued report, the number of domestic delivery workers in South Korea has doubled in just three years, reaching 237,100 in the first half of 2022.

    Amidst surging demand for food delivery services, delivery companies have been struggling to secure enough delivery workers to meet the demand, compelling them to offer increasingly attractive pay packages. The higher cost of labor has been passed on to consumers through higher delivery fees.

    Companies such as Baemin and Coupang Eats paid delivery workers an additional fee of $1.54 (KRW2,000) to $1.92 (KRW2,500) per delivery in 2021 to secure their services. Some also offered prizes such as camping cars or pure gold.

    Popular delivery apps such as Baedal Minjok and Coupang Eats said they have had to raise their brokerage and delivery fees in response to rising labor costs.

    Consumers are paying almost the same amount for delivery as their food, with the average delivery tip based on the maximum distance being $3.84 (KRW5,000) in February. The average amount for Baemin delivery tips was higher at $4.46 (KRW5,810).

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  • China begins large purchase of Vietnamese tra fish

    China begins large purchase of Vietnamese tra fish

    A Chinese trader has imported 500 containers of tra fish weighing 12,000 tonnes from Vietnam right after China lifted its zero-Covid policy, showing a positive signal for the sector this year.

    China is the second biggest importer of Vietnamese tra fish, after the U.S. Last year, Chinese traders bought nearly 300,000 tonnes of the fish from Vietnam, with a total value of more than $700 million.

    Notably, the current price of fillets exported to this market ranges from $3.5 to 3.6 per kg – the best export price of this product – in the context of the global economic downturn.

    Vietnamese tra fish is now exported to 138 countries and territories worldwide.

    About 350 tra fish-raising establishments in the Mekong Delta region with a total area of nearly 3,120 ha have been certificated to meet Vietnamese Good Agricultural Practices (VietGAP) standards.

    According to the Vietnam Association of Seafood Exporters and Producers (VASEP), this year, tra fish exports are expected to surpass $2.4 billion – a record high set in 2022.

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  • Japanese restaurant chain Zensho to buy Lotteria Japan

    Japanese restaurant chain Zensho to buy Lotteria Japan

    Sukiya beef bowl chain’s operator, Zensho Holdings, is to acquire burger franchise Lotteria Japan from Lotte Holdings for an undisclosed sum.

    The deal is expected to be completed on April 1.

    Entering Japan in 1972 with the first store opened in Tokyo’s Nihonbashi, Lotteria had 358 stores across the country as of January 1.

    Zensho Holdings said it has decided to acquire the shares based on the judgment that the synergistic effect of its mass merchandising system and wide range of food business will contribute to the future expansion and development of Lotteria’s business.

    The deal is part of an operational restructuring by South Korea’s Lotte Holdings.

    “We believe this is the best option for Lotteria to pursue new growth,” Lotte Holdings said in an announcement.

    The company said the Lotteria brand will continue for a certain period after the transfer of the shares but the new owners may rename it in the future.

    As of March 31 2022, Zensho Holdings managed and developed 10,078 restaurants, with sales of about US$4.9 million. Its portfolio of brands includes Sukiya, Big Boy, Nakau, Victoria Station and Jolly Pasta. The company previously operated US burger chain Wendy’s restaurants’ in Japan.

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  • Leading seafood firm to issue 1:1 bonus

    Leading seafood firm to issue 1:1 bonus

    Major listed seafood exporter Minh Phu Seafood JSC is set to issue bonus shares at a ratio of 1:1.

    It is expected to be done this year by capitalizing reserves, and will double the company’s charter capital to VND4 trillion (US$170.9 million).

    Minh Phu also plans to pay a cash dividend of VND2,300 per share.

    Its revenues in the first six months rose 43% to VND8.7 trillion, but profits fell 15% to VND236 billion due to bad debt provisioning and rising financial costs.

    It eyes revenues of VND18.96 trillion and profits of VND1.27 trillion for the full year.

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  • Yum China sales fall as pandemic impact worsens

    Yum China sales fall as pandemic impact worsens

    The owner of KFC and Pizza Hut said sales plunged by 20% in the first two weeks of March as a surge of new Covid cases spread across China.

    Yum China said “the situation has rapidly deteriorated” as regional lockdowns have been put in place to stem the outbreak.

    More than 1,100 of its stores are temporarily closed or offering takeaway and sales are “still trending down”.

    China’s lockdowns are among its biggest since the beginning of the pandemic.

    They include the Jilin province – home to companies such as carmakers Toyota and Volkswagen – as well as technology hub Shenzhen as the number of new infections of the Omicron variant of Covid rise.

    Yum China said: “Entering March, the situation has rapidly deteriorated with the highly transmissible Omicron variant causing outbreaks across China, including economically important regions of Guangdong, Shanghai, Shandong and Jilin.”

    It added: “Our operations are significantly impacted by the latest outbreaks and the tighter public health measures which resulted in a further reduction of social activities, travelling and consumption.”

    Toyota, Volkswagen and iPhone-maker Foxconn have been forced to close operations in affected regions due to lockdowns.

    Although Foxconn said on Wednesday it was able to restart some production in Shenzhen after putting in place a closed loop system on its campus. It means that Foxconn employees working in the space cannot move outside the group.

    Foxconn said: “This process, which can only be done on campuses that include both employee housing and production facilities, adheres to strict industry guidelines and closed-loop management policies issued by the Shenzhen government.”

    There are concerns the restrictions could have an impact on global supply chains.

    But Yum China’s chief executive Joey Wat, said: “Our robust supply chain management has shielded us from material business disruptions.”

    Yum China said it had more than doubled the number of stores it had closed or restricted to take-out services from 500 in January to 1,100 in March.

    Ms Wat pledged: “We will keep our restaurants open and provide food services to customers wherever it is possible and safe to do so.”

     

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  • Imported seafood prices skyrocket amid transport restrictions

    Imported seafood prices skyrocket amid transport restrictions

    The prices of imported king crabs and abalones have risen by 30-50 percent in HCMC due to limited supply caused by mobility restrictions.

    King crabs are sold at VND2.5-2.9 million ($109-126) per kilogram, 50 percent higher year-on-year.

    Australian and South Korean abalones are sold at 30 percent higher at VND1.6-1.8 million.

    Salmon prices are up 18 percent at VND650,000.

    A seafood importer who owns a restaurant in the city’s Tan Binh District blamed the price rise on a supply shortage, saying the semi-lockdown has made transporting seafood difficult.

    Another reason is the limited number of flights coming to Vietnam from abroad.

    Another importer said half the crabs died on the way to Vietnam due to flight delays, causing him losses. He has stopped selling for now.

    Tran Van Truong, CEO of seafood chain Hoang Gia, said flights from Norway to HCMC are rare and in most cases have to transit in other countries.

    Many sellers are increasing the sale of domestic seafood items such as red tilapia and squid to survive.

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