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The Meat Trader’s Journal #25: China-EU Pork Trade Tensions, Halal Meat Sourcing and more.

The meat industry is abuzz with the latest developments in Food Tech, as well as simmering trade disputes and evolving consumer preferences that are reshaping the global supply and demand dynamics.

🔓Market Movers & Shakers Intel

Seoul Food Fair: Now the Real Truth – The Follow-up

What I loved most about the fair was my time in the Spanish Section. The Spanish companies showcased not only innovative ideas but also a wide range of products that can elevate cuisine, whether at home or in a restaurant.

Now comes the real follow-up after the initial encounter, especially for companies that are attending the fair and showcasing their products for the first time.

When following up with potential importers after meeting them at the Seoul Food Fair, asking the right questions is crucial.

These 10 sections will help you qualify potential partners and ensure you find the best fit for your products:

1. Company Background and Experience

• Can you provide a brief overview of your company and its history in the food “import” industry? we need to know if they have importing license or not….

• How long have you been importing X or similar products?

2. Market Reach and Distribution Channels

• Which markets or regions do you primarily serve?

• Can you describe your distribution channels and key clients? We don’t need names, we just need to know how is their way into the market.

3. Product Interest and Fit

• What specifically interested you about our product at the food fair?

• How does our product fit within your current product portfolio? Maybe they are trying to incorporate new product in their portfolio, which is good, but we would need to know their budget.

4. Regulatory and Compliance Knowledge

• Are you familiar with the regulatory requirements and import procedures for our products in your market? We need to know so that you can adjust the pricing either EXW, FOB, CIF, etc.

5. Logistical Capabilities

• Do you have experience with cold chain logistics for perishable products? This is usually for meats, frozen products or products that have shelf life. Shelf life is very important to know in advance. Supplier should disclose it and importer should be asking about it.

6. Financial Stability and Terms

• What are your standard payment terms for new suppliers? It's important to consider the buyer's requirements, as payment practices can vary by country. Not every country uses prepayment or pays 100% in advance. If you are unfamiliar with Letters of Credit, it's advisable to consult your finance department and learn about their advantages.

• Can you provide references from other suppliers you have worked with?

7. Marketing and Promotion Plans

• How do you plan to market and promote our product in your region? This is usually related to exlusivity.

• Do you have a dedicated marketing team or partnerships for product promotion?

8. Partnership Expectations

• What are your expectations for a partnership with our company?

9. Long-term Commitment

• Are you looking for a long-term partnership or a one-time purchase?

• How do you typically handle contract renewals and negotiations with suppliers?

10. Feedback and Improvements

• Do you have any initial feedback on our product or presentation from the food fair?

• Are there any improvements or adjustments you would like to see in our product or packaging?

The clearer the information for both parties, the better. This transparency allows you to choose the best partner and invest the necessary time and energy to make the partnership successful, ultimately ensuring the success of your product.

🏆Highlighting the relevant stories from top-down

→ China-EU Pork Trade Tensions Escalate
→ Halal Meat Sourcing Strategies for Eid al-Adha

China- EU Pork Trade Tensions Escalate

Publisher: Pork Business | 18/06/2024
Escalating trade tensions between China and the EU threaten to disrupt the pork trade, with China launching an anti-dumping investigation that could lead to retaliatory tariffs.

Key Points:

• China's anti-dumping probe into EU pork imports could result in punitive tariffs, jeopardizing a crucial export market for European producers.

• The trade dispute extends beyond pork, with China also investigating EU electric vehicle exports, raising the specter of a broader trade war.

• Meat traders must closely monitor the situation and explore alternative sourcing strategies to mitigate the potential impact of disrupted China-EU pork trade.

Laura's POV: The looming China-EU trade tensions pose a significant risk for pork traders, who may face supply chain disruptions and volatile pricing. Diversifying sourcing options, strengthening relationships with alternative suppliers, and closely tracking policy developments will be crucial for traders to navigate this challenging landscape and use this tensions to diversify into other markets.

Halal Meat Sourcing Strategies for Eid al-Adha

Publisher: Antara News, Jabar Prov, Ministry of Information Myanmar | 18/06/2024

As the Muslim world prepares for Eid al-Adha, meat traders are navigating the complexities of sourcing halal meat to meet the surge in demand.

Key Points:

• Indonesia is securing shipments of sacrificial meat from Mecca to supplement domestic supplies for the Eid al-Adha festivities.

• Authorities in Indonesia and Myanmar are providing guidance to consumers on the proper handling and storage of halal meat during the holiday.

• Meat traders must ensure strict compliance with halal certification and logistics to cater to the specific requirements of the Eid al-Adha market.

Laura's POV: The Eid al-Adha celebration presents a significant opportunity for meat traders to capitalize on the increased demand for halal meat. However, navigating the complex logistics and regulatory requirements will be crucial to successfully serving this niche market. Traders should work closely with certified suppliers, optimize distribution channels, and provide clear guidance to consumers to build trust and loyalty during this important holiday season.

🗺️Trends - Discussion

👀 Latest Trends in Premium Meats like Wagyu and Iberico

As we dive into the world of premium meats, it's fascinating to see how trends are shaping the industry, especially for coveted varieties like Wagyu and Iberico. Here’s what’s making waves:

1. Sustainable Farming Practices
Wagyu beef farming is increasingly embracing eco-friendly methods. These sustainable practices not only minimize environmental impact but also enhance the overall quality of the beef. It’s a win-win for both the planet and our palates.

2. Technological Advancements
Innovations in technology are revolutionizing Wagyu beef production. From sophisticated feeding systems to advanced genetic analysis, these advancements are boosting the quality and efficiency of beef production, ensuring we get the best cuts every time.

3. Crossbreeding and Genetic Exploration
Producers are exploring crossbreeding Wagyu with other cattle breeds. This genetic exploration aims to combine the best traits of Wagyu with those of other breeds, resulting in new varieties that offer unique flavors and textures.

4. Emphasis on Quality and Authenticity
When it comes to premium meats like Wagyu and Iberico, authenticity and quality are paramount. Look for certification and grading information that guarantees the origin and quality of the meat. Purchasing from reputable suppliers known for their high standards and transparency is key.

5. Growing Demand and Market Trends
Globally, Wagyu beef is gaining popularity, particularly in markets like Hong Kong, where it’s prized for its rich taste and soft texture. The demand for premium meats is being driven by consumers seeking high-quality, unique, and sustainable products.

6. Innovative Cooking Techniques and Recipes
Chefs and home cooks alike are experimenting with new cooking methods and recipes to enhance the flavors and textures of Wagyu and Iberico. Simple seasonings and techniques that allow the natural flavors to shine are becoming increasingly popular.

These trends reflect a broader effort to improve the quality, sustainability, and authenticity of premium meats, alongside a growing demand in various markets. Whether you’re a connoisseur or a casual enthusiast, there’s never been a better time to explore the world of Wagyu and Iberico.

3 ways I can help when you ready:

✅ 1:1 Strategy Sessions for Asian Market Entry (30 minutes)

• Understand local preferences and regulations.

• Adapt your product offerings for the Asian market.

✅ Global Partnership Development

• Build reliable distribution channels with local partners.

• Ensure product freshness and quality from production to consumer.

✅ Sales Training for Global Teams (Check video for an example)

• Enhance marketing and sales strategies for Asia.

• Leverage local media and influencers to boost brand awareness.

💎Did you know?

5 Food Tech Starups Leading the Way in Alternative Proteins

The landscape of food production is undergoing a significant transformation, driven by innovative startups that are rethinking traditional methods. Here are five startups leading the charge in creating sustainable and efficient food production systems:

1. Atlantic Fish Co: Cultivated seafood, including the world's first cultivated black sea bass.

2. Optimized Foods: Uses mycelium for ingredient encapsulation to enhance plant-based foods.

3. AlProtein: AI-powered biomanufacturing of proteins from microalgae and water lentils.

4. Fisheroo: Provides enabling technologies for cell-based meat and seafood.

5. Friends & Family Pet Food Co: Cultivated pet food using yeast and cultivated ingredients.

These startups are pioneering sustainable and innovative solutions in the alternative protein industry.

For more details, visit ProVeg.

That's all for this week!

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Warm regards,

Laura Valls