Spanish Olive Oil companies seek to consolidate in Asia

Spanish Olive Oil companies seek to consolidate in Asia

10/16/2014 - Ybarra and Aceites del Sur are some of the Spanish food companies who have traveled to Asia in order to gain a better understanding of Japanese and South Korean markets through the ninth edition of the Mission for Managers organized by the Spanish Food & Drink Industry Federation - Fiab.
For one week, senior managers of these firms have been able to gain an overview of these markets. In order to do that, they have met with representatives of the Administration and with major operators and commercial distributors, as reported in a press release.

For Jaime Palafox, director of Economic Affairs and Internationalization of the Federation, "Initiatives like this encourage the search for business opportunities in markets which are really interesting to the sector, directly involving managers of companies and offering them a closer economic and commercial reality."

Furthermore, according to Palafox, "It is necessary to know first hand the characteristics of each market, as, for example, in Japan and South Korea were decisions and trade relations are very hierarchical and slow, but also durable; therefore, it is essential to live them closely."

Meanwhile, Julio Pérez, CEO of Helios Group, who is participating in several missions organized by Fiab, considered that this initiative "allows us a brighter picture of what is the best strategy in these countries and how to introduce or increase product sales, thanks to the knowledge gained from consumption patterns and business models of the major operators in each country."

Fiab recalled that within the Strategic Framework for Food and Beverage Industry driven by the Federation in collaboration with the Spanish Ministry of Agriculture, Food and Environment (Magrama), internationalization is one of four challenges to be addressed in order to 2020, together with efficiency, value creation and revitalization.

"Considering the demographic evolution of Spain, towards globalization and the development of these markets; growth potential of the sector is often abroad, and particularly in high growth markets such as Asia," said Palafox.

In this sense, and in parallel to this Mission, promotions are being jointly organized at point of sale in two of the largest distributors in the market (ACE Kitano and Hyundai).
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