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Korea’s Top Food Distributor Increases Potato Sales

01/05/2020

 

Attachment Korea’s Top Food Distributor Increases Potato Sales

 

Korea's Top FS Distributor Increases Sales Photo

U.S. frozen potato sales to South Korean foodservice companies have been seriously challenged by events over the past few years that threatened to reduce U.S. market dominance. In 2015, the West Coast port slowdown badly affected the U.S. frozen potato market by reducing the availability of shipments from the United States and causing Korean customers to select alternative options. Additionally, stagnant sales at quick-serve restaurants provided an ideal opportunity for cheaper suppliers like Canada and the European Union to gain market share, resulting in greatly increased competition. This past year, Canadian frozen potato exports have especially benefited from the successful expansion of a key QSR customer with an exclusive Canadian partnership. Meanwhile, European suppliers have sought to take advantage of the market’s price sensitivity to promote their products’ much lower prices.