South Korea’ Food Processing Industry: Standing on Three Pillars
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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
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