Keep your exports close: Why palm oil sector must not overlook ASEAN as it seeks to diversify exports
The palm oil sector needs to prioritise development in South East Asian countries alongside its efforts to diversify export locations, with one industry specialist anticipating that local demand will grow in the near future.
Major target export markets for the palm oil industry have actually traditionally been big players like China and India, and previously this year major producer nation Malaysia had likewise exposed plans to diversify target markets to other areas such as the Middle East and Eastern Europe.
However in spite of the world’s biggest producers Indonesia and Malaysia being located in South East Asia, really little bit has been discussed about focusing efforts on increasing palm oil penetration into neighbouring ASEAN markets– however according to an industry expert, this need to be more of a top priority for the industry.
” Based upon information we have mapped from the 1960 s to this year for nations in South East Asia, we have actually seen a clear pattern that as GDPs rise in a country, need for grease will rise parallel with it,” research consultancy LMC International Head of South East Asia Dr Julian Conway McGill informed the audience at a recent Malaysian Palm Oil Council (MPOC) occasion.
COVID-19 and imports: Sharp prices and localisation strategies crucial for F&B brand names to gain ASEAN entry
Global food and beverage brands wanting to gain a foothold in the ASEAN market via local distributors require to step up their video game when pitching prices and localisation methods, as a new survey has actually revealed waning interest in new product launches.
The study was conducted by the ASEAN Food & Consume Exporters Forum in September 2021, where it surveyed over 1,000 food and drink importers throughout Indonesia, Malaysia, Philippines, Singapore, Vietnam, Thailand.
” Surprisingly, when we asked these companies whether they were still examining brand-new F&B circulation chances in their ASEAN markets, the percentage come by 8.2%this year to 88.5%compared to in 2020’s 96.7%during the thick of the pandemic,” ASEAN Food & Consume Exporters Online Forum Chair Cameron Gordon said.
” This is obviously still a reasonably high number, but there is a guaranteed observable drop, which our company believe is because the long tail of COVID-19 has impacted lots of company’s confidence in launching brand-new brand names in the F&B sector somewhat.
Indonesia’s National Research and Innovation Company (BRIN) has actually established a service to turn fish waste into protein hydrolysate, a raw material that can be used to make peptone for the cultured meat sector.
Cultured meat business utilize microbial growth media to offer cells with nutrition, with peptone providing the nitrogen for organisms to grow. Presently, cultured meat companies utilize peptone originated from animal meat for its development media, however the scientists at BRIN think using fish waste can be a less expensive procedure, offer a much better nutritional profile in regards to greater protein and amino acid, and produce a greater worth active ingredient.
Garbage fish are bycatches by anglers, generally in areas where there is shrimp trawling activity, where little fishes are mistakenly caught.
Wawan Kosasih, group leader of the job at BRIN, said: “ At the fish auction, many trash fish are not offered due to the fact that they are not chosen for usage, and they are usually sold at extremely low-cost costs for animal feed or even gotten rid of as garbage. We had a concept to increase the economic worth of the fish and as an option for dealing with discarded fish waste“
Branding experts spearheading effective Nestle and Yeo’s marketing projects amidst the COVID-19 pandemic have actually highlighted the value for food and beverage brands to satisfy customers’ psychological requirements by means of digital strategies in order to make sure ongoing survival.
Customers making food and drink purchases typically make these purchase choices based upon items’ nutritional or practical attributes, and brand names can fulfil these needs by making better products– however in today’s COVID-19- endemic world, brands will require to do more to endure long-term, and this consists of attractive and satisfying consumers’ emotional needs to catch their attention also.
” As the majority of people understand, the primary difference in regards to brand and product marketing today versus pre-COVID-19 has actually been the increase of [digital platforms] such as social commerce and the strengthening of e-commerce, [so much so] that there has actually been a almost-mandatory move for all food and beverage brands towards digital,” branding and combination firm Mashwire Co-Founder Jeff Ng told FoodNavigator-Asia
Food supply chain recovery: Sector essential for economies to get back on track after pandemic pressures – APEC ministers
Top-ranking ministers from the Asia Pacific Economic Co-operation (APEC) have highlighted that food supply chains and open trade in the region are important to increasing financial revival post-pandemic– however huge obstacles persist around tariffs, protectionist policies and simmering tensions in between significant countries
Ministers from the 21 APEC member countries– which are both APAC and non-APAC countries bordering the Pacific Ocean– assembled virtually at the recent APEC Ministerial Fulfilling 2021, hosted this year by New Zealand. This was co-chaired by New Zealand Foreign Affairs Minister Nanaia Mahuta, and Trade and Export Development Minister Damien O’Connor.
In this conference, the ministers agreed that the healing of food supply chains and open trade between all APEC member nations was important to getting economies back to pre-COVID-19 levels, both throughout establishing and developed economies.
” The continuous effect of COVID-19 is [still] being felt throughout [all of the] region’s food supply chains [more than a year after the pandemic hit],” they told media after the event.