SEOUL, KOREA - Namyang Dairy announced on November 17 that it signed a US$10-million deal to export freeze-dried (FD) coffee to Europe. The company recently inked a deal with Poland’s Instantato supply about $10 million FD coffee.
Instanta, a manufacturer of instant coffee, supplies its products throughout the world, including the entire regions of Europe, including Poland, the Middle East, the U.S., and Japan.
Under the terms of the deal, Namyang Dairy will supply 5 million tons of FD coffee on a yearly basis. This volume is equivalent to about 15 percent of Namyang Dairy’s total output.
ANamyang Dairy official said, “Europe, together with South America which is a major producer of coffee, is one of the world’s most competitive coffee markets. This deal has a great meaning since we broke the barrier of the European coffee market.”
In addition to this deal, Namyang Dairy is also engaged in supply negotiations with a host of global coffee makers.
Article provided by The Korea Economic Daily
