FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: Monday,  March 21,  2022

For Coverage: March  14 ~  17, 2022

 

Frozen Cake Sales Surge During the Covid 19 Pandemic

https://news.naver.com/main/read.naver?mode=LS2D&mid=shm&sid1=101&sid2=310&oid=016&aid=0001964881

Summary:  According to Shinsegae Food, sales of 10 major frozen cake products sold via e-commerce platforms such as Kakao and Naver jumped 67% during the first three months of this year compared to the same period last year.  More people are enjoying coffee and desserts at home during the pandemic.  The home-café trend is spreading even faster amid a surge in the omicron variant.  Shinsegae Food said that they are seeing a drastic expansion in products in the frozen cake sector.  Shinsegae Food introduced new types of frozen cake for their cake brand ‘Vecchia e Nuovo’.  The ‘Vecchia e Nuovo Signature Chocolate Cake’ is layered with buttercream and Belgian dark chocolate, and the ‘Vecchia e Nuovo Signature Two Hour Cheesecake’ has a higher content of cream cheese compared to the existing one.  The two products will be first sold through Kakao Gifts, and will expand to various online channels such as G-market, Auction, Naver and 11st Street.  Shinsegae Food is offering coffee and blueberry compote that can be paired with frozen cakes for customers purchasing the new products.

 

This Year’s Major Food Trend for the Food Service Sector is ‘Sweet Taste’

https://news.naver.com/main/read.naver?mode=LS2D&mid=shm&sid1=101&sid2=310&oid=003&aid=0011066636

Summary:  The food service industry is actively introducing menus with a sweet taste for the upcoming spring season.  An industry official said that in line with expectations for eased social distancing measures, it seems clear that more consumers will prefer sweeter menus.  Pizza Alvolo newly introduced ‘Sweet Cream Cheese Stick’, a side dish that can be paired with pizza menus and various sauces such as garlic sauce.  Café Gong Cha is offering new yogurt drinks with high fruit content for the spring season.  Confectionary firms are also launching snacks with sweeter tastes.

 

Promotional Products Targeting White Day didn’t Sell Well

https://news.naver.com/main/read.naver?mode=LS2D&mid=shm&sid1=101&sid2=310&oid=015&aid=0004674850

Summary:  The distribution industry reported that the sales of promotional products for White Day (March 14) was the lowest ever.  Since chocolate and candies have been popular gifts for White Day, convenience store owners ordered a similar amount of sweets as last year for this year’s White Day.  However, they had too much stock left, more than 30% of the ordered amount.  An industry official explains that since more people are teleworking and spending most of their time socially distancing at home amid the Omicron wave, the demand for exchanging gifts for White day has decreased significantly.  

 

Paris Baguette Pairs with Pulmuone for ‘Green Fair’

https://news.naver.com/main/read.naver?mode=LS2D&mid=shm&sid1=101&sid2=310&oid=031&aid=0000659751

Summary:  SPC Group, operator of Paris Baguette, is holding ‘Green Fair’ to propose healthy food culture in collaboration with Pulmuone.  Paris Baguette will introduce 3 new menus using tofu and plant-based meat products from Pulmuone under the slogan “Green, Right.”  The three menus are “Plant Deluxe Sandwich” (with wheat bread and roasted vegetables), “Healthy Tofu Sesame Burger” (with mayonnaise sauce, pork made of tofu and sesame seeds) and “Tofu Tender Caesar Salad” (with quinoa and plant protein-based chicken).  A Paris Baguette official said that they have collaborated with Pulmuone to strengthen their ESG activities, noticing the growing interest and consumption of alternative foods mainly led by Millennials and Gen Z.  Paris Baguette has been showing attention to the plant-based protein food market, collaborating with plant-based food companies such as ‘Unlimeat’ and ‘Eat Just’.

 

Kyochon F&B Achieved Record Sales of 507.6 Billion Won in 2021

https://news.naver.com/main/read.naver?mode=LS2D&mid=shm&sid1=101&sid2=310&oid=015&aid=0004674532

Summary:  Kyochon F&B, operator of Kyochon Chicken, reported on March 16 that they have reached 507.6 billion won in sales (up 13.4% from 2020) and net income of 29.8 billion won (up 25.2% from 2020).  Operating profit was 41 billion won, similar to the previous year.  Kyochon F&B said they were able to record the highest sales thanks to increased food orders, success overseas, and new businesses.

 

Signs of Food Crisis … Domestic Flour and Feed Prices Soar

https://news.naver.com/main/read.naver?mode=LS2D&mid=shm&sid1=101&sid2=310&oid=003&aid=0011062856

Summary:  Russia’s ban on the export of major grain products such as wheat and barley is raising concerns in the food industry.  The expected drop in grain exports from Russia and Ukraine will increase international grain prices.  South Korea, highly dependent on imported grain, is expecting food products using grains to increase in price.  Pizza and bread producers, as well as the restaurant industry, will suffer from flour price increase and will have to increase menu prices.  There will also be a significant impact on the domestic livestock industry, which uses grains for feed.

 

Coffee Residue is Excluded from Waste Regulations

https://www.foodnews.co.kr/news/articleView.html?idxno=96019

Summary:  The Ministry of Environment will simplify waste regulations on coffee residue discharged from coffee shops, recognizing it as a recycling resource starting March 15.  The recycling resource recognition system excludes food materials (including food waste that can be easily and safely utilized) from waste regulation policies.  Previously issues have been raised regarding carbon emissions from coffee residues, even though it can be used to make fertilizer, building materials and plastic.  According to the National Assembly Legislative Investigation Office, the amount of coffee residue increased by 1.6 times to 149,038 tons in 2019 from 2012 due to the increase in coffee consumption.

 

Inspection on Customs Clearance for Imported Agricultural and Fishery Products will be Strengthened

http://www.foodnews.co.kr/news/articleView.html?idxno=96008

Summary:  The Ministry of Food and Drug Safety will strengthen the customs clearance procedure for food items widely consumed during the spring season.  This measure targets items for which more than 40% of their annual imports enter in the spring, such as fruits (oranges, grapes and tangerines), vegetables (pumpkin, spinach and onion) and raw fish (flounder and octopus).  Target items are mainly imported from 8 countries, including the United States, China, Chile, New Zealand, Australia, Peru, Thailand, and Vietnam.  The items will be tested for pesticide residue, heavy metal content, and veterinary drug residue.

Chinese Cuisines are Emerging as New Popular Home Meal Replacement (HMR) Products
https://news.naver.com/main/read.naver?mode=LS2D&mid=shm&sid1=101&sid2=310&oid=011&aid=0004028942
Summary:  Meal kit producers are introducing various Chinese cuisines, which were once considered menus only for delivery and dining out.  Menus such as jjajangmyeon (noodles in black bean sauce), jjamppong (noodles in spicy broth) and tangsuyuk (sweet and sour pork) can be easily enjoyed at home.  According to the food industry, the market for Chinese convenience food amounted to 30.9 billion won last year, up 40% from 2020 (22.5 billion won).  CJ Cheil Jedang, a Korean food giant, reported that their monthly sales jumped 3 times last year from the year before after introducing tangsuyuk menus.  An average of 250,000 bags of tangsuyuk are sold every month.  According to CJ, customer demand for Western food and Chinese food has increased 1.2%, while demand for Korean food decreased by the same amount.  Meal kit producers are striving to enhance product quality, and competition is expected to intensify.

Mega Food Market Sales Increase Significantly
https://news.naver.com/main/read.naver?mode=LS2D&mid=shm&sid1=101&sid2=310&oid=003&aid=0011060623
Summary:  Home Plus Ganseok branch is seeing a noticeable increase in sales after its renewal of the Mega Food Market.  Sales by Mon Boulanger, a bakery at Home Plus, increased 75% within a month after its renewal compared to the same period last year.  Sales of products labeled ‘healthy bread’ jumped 725%.  Meanwhile, the total sales by ‘Food to Go’, which includes the salad store ‘Fresh to Go’, increased 100% from the same period last year.  Fresh to Go is actively reflecting green consumer trends, and offers salads using premium ingredients such as grilled vegetables and Tasmanian salmon.