What happens when Asia’s biggest potato chip maker runs out of potatoes? Japanese snack brand Calbee had to learn the hard way.
Extreme weather disruptions and supply chain snags forced the company to hike prices three times last year and rethink how it sources its most important ingredient.The issue is critical to the company as it embarks on an ambitious $1 billion turnaround and overseas expansion plan that will see it plow deeper into the world’s top two economies.
Both have been hit over the past two years by ruptures in commodity supplies that led to a record surge in food prices in 2022, affecting virtually everything from tomatoes to rice to peaches. The crisis contributed to another record jump for food prices last year, with a benchmark index compiled by the United Nations’ Food and Agriculture Organization reaching its highest annual level since 2005.
As a result, the company had to suspend sales promotions and new product launches, while accepting higher procurement and shipping costs. The challenges contributed to a 7% decline in operating profit in the financial year that ended in March 2022.To shore up its supply of potatoes, Calbee is working with farmers across Japan, seeking to boost its domestic supply from 320,000 tons to 400,000 tons a year by the end of the decade.
To diversify even further, the firm is also considering importing from other markets, such as Europe, according to Ehara.
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