SEOUL, Nov. 5 (Korea Bizwire) — Plunging milk consumption rebounded in the first half of this year.
The Korea Agro-Fisheries and Food Trade Corp. reported Wednesday that retail sales of white milk totaled 822.4 billion won (US$729 million) in the first half of the year, increasing by 3.3 percent compared to last year.
Seoul Dairy Cooperative, South Korea’s top milk company with 40 percent of the domestic market, also saw a rise in sales for the first half of 2020.
“Milk sales at shopping malls or convenience stores have soared as more consumers stayed at home due to the coronavirus outbreak,” company officials said.
Following the coronavirus outbreak in the first half of this year, school catering services, one of the largest milk markets in the country, were shut down as kindergartens and schools were closed.
Nevertheless, a jump in Seoul Dairy Cooperative’s white milk sales indicates that increasing sales at shopping malls and convenience stores have become large enough to cover the losses caused by the shutdown of school catering services.
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