The pricing policy in the Korean food processing industry is directly affected by the changes in foreign exchange rates. The industry has to rely on international prices owing to chronic trade deficits and excessively huge agricultural imports. However, so long as the trend of Korean Won is maintained on the higher side, it will help the food industry to keep its profit high.
The Korean food industry is also closely linked with the domestic business cycles. Unlike the luxurious goods whose demand fluctuates dramatically with respect to changes in income, this is not so with food items whose consumption elasticity is relatively low. In Korea the country’s business cycle affects the food sector every three to six months.
Another characteristic of the Korean food industry is the take over of the market by a few large retailers. Traditionally, the Korean food market was essentially a wholesalers’ market. As the wholesalers amassed huge financial capacity and organizing power they dominated the food market for several decades until recently. The market was basically a suppliers’ market where changes in consumer tastes had little impact on production and marketing conditions.
A market research report named “Food Processing Industry – South Korea (2005)" prepared by RNCOS an upcoming market research organization analysts indicate the industry’s growth in this region arising from the availability of raw materials, changing lifestyles and flexible trade regulations. The report also analyses the increase in demand and supply by the country in terms of unit sales as also it discusses the hindrances to growth opportunities for traders.
In its various sections, the market research report gives a complete picture of the different business segments within the food processing industry that are supported by statistical data, trends and legal framework, and regulations that govern it.
The report covers the profiles of key players in the food-processing sector including their brief profile, recent financials, key management profiles, and company’s strategic moves/ press coverage giving the overall market estimation and its trends.
The report has conducted a SWOT analysis of the market and deals with factors affecting agro-processing industries. The report also mentions about the budding workforce and on-farm employment limits.
To purchase your copy: http://www.rncos.com/Report/FB17.htm
For more information please visit www.rncos.com
The Food Processing Industry
India has tremendous potential to become the primary source of agricultural products, more specifically food products in the world. It has about 53% of arable land - land available for cultivation of crops as compared to a measly average of about 11% for the rest of the world. It has some feathers in it's cap as the second highest fruit and vegetable producer in the world, 6th largest producer of fish and such like but still doesn't make up to the top 10 food exporting countries.If it weren't for some severe infrastructure and technology issues, there is actually stopping for this gigantic food bowl. With large tracts of arable land, inexpensive labour and high-quality produce tumbling out of the barns, there is a potential so huge that sometimes, the scope and scale is almost unbelievable.
However, if one had to point out at one single single reason as to why the Indian agricultural industry is such a laggard when pitted against the global standards, it could be the pathetic state of the logistics, distribution and and an inefficient supply chain. India faces an acute problem of large amounts of food wasted away due to the lack of a proper cold storage, cold chain and frozen food distribution system. If only this was in place, huge amounts of food could have been processed into some kind of value added foods and sold both locally and abroad.Annually, there is usually a large amount of such agricultural produce that is waste away. If there were cold storage systems, efficient cold chain, logistics and distribution companies, it could have been possible to process these primary products into newer, secondary products and resold to consumers locally and internationally. A strategy needs to be carved out for the growth of this industry and a lot of investment action is yet to see some real action.
Investment in cold storage, cold chain distribution, installation of food processing plants across the country, applied research on harvesting technologies an a rapid development of the food retail industry are all necessary steps that would ensure an organic growth in this sector.
What is Cold Chain?
A cold chain is basically a logistics system, which helps in maintaining and providing a series of facilities for ensuring ideal storage conditions for the persihables from the point of origin to the point of sale. A well developed and efficiently organized cold chain reduces wastage, spoilage and helps keeps the perishables intact thereby helping to maintain the quality of the harvested food products ultimately making the whole system cost effective to the farmers and that which ensures top-notch quality to the end user.
Both James Marriot & Rajiv Singh are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
James Marriot has sinced written about articles on various topics from Recreation and Sports, computers and the internet and Information Technology. RNCOS offers complete e-publishing solutions for your business. We provide personalized world-class content development and management solutions that are qualitative and result-oriented.. James Marriot's top article generates over 40500 views. Bookmark James Marriot to your Favourites.
Rajiv Singh has sinced written about articles on various topics from Internet Marketing, Food And Drink and Affiliate Programs. Snowman Frozen Foods Ltd. is the first company in India to set up frozen and chilled food distribution system on pan India basis. http://www.snowman.in "> SNOWMAN is in th. Rajiv Singh's top article generates over 4400 views. Bookmark Rajiv Singh to your Favourites.
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