Since the last quarter of 2020, the aquaculture company has been exporting products from one of its smoked salmon brands to Singapore, and plans to include other countries in the region such as Malaysia.
Latitude 45°, one of Multiexport Foods’ smoked salmon brands, entered the Singapore market during the last quarter of 2020, making its citizens marvel at the versatility, flavour and freshness of a “ready to eat” product.
Singaporeans currently have a catalog of 5 different products available, which can be found on the shelves of “Dairy Farm”, the main retail chain in most of Southeast Asia.
“Singapore is one of the fastest developing emerging markets in the world. In that sense, we see an opportunity for growth, mainly due to the large percentage of middle class people living in the country, who are open to try flavours and trends from other places. We also believe that it is also an entry to other Southeast Asian countries”, explains the Consumer Products Manager of Multiexport Foods, Josefina Lyon.
In addition, Lyon adds that “the reception from Singaporeans and retailers has been very good. The product has been popular and has had a good commercial performance”.
Before entering the market in Singapore, Latitude 45° products were only sold in the United States. However, through the brand’s expansion plan in Asia, the company is considering entering the Malaysian market in 2021, including new value-added products.
Latitude 45° products present in Singapore have the same packaging used in the United States, however, its recipe has small variations. During 2021, Multiexport Foods estimates that around 80 tons of Latitude 45° products will be exported to this Asian country.