SEOUL, May 18 (Korea Bizwire) — South Korea will beef up monitoring of the cooking oil market and boost its supply chains on concerns over supply crunches and illegal hoarding, the agriculture ministry said Wednesday. Global cooking oil prices have risen recently over the Ukraine crisis and Indonesia’s export curbs, which have prompted some consumers [...]
SEOUL, Oct. 13 (Korea Bizwire) — The premium cooking oil market in South Korea has reached significant growth as ‘well-being’ demand among consumers continues to expand. The Korea Customs Service reported that imports of extra virgin olive oil, which currently leads the premium cooking oil market, reached 13,992 tons last year, breaking a 13-year record. [...]
SEOUL, Jan. 4 (Korea Bizwire) – Last year’s floods affecting key soybean producers in Latin America, including those in Argentina, led to a drop in the soybean harvest, which is now crippling the supply of business-to-business cooking oil in Korea – further pressuring food businesses that are already suffering from soaring egg prices from the [...]