By Will McNairWill
Lotte Food, one of the largest food service companies in the North Asian region and a leading Korean food processor, announced in November 2019 that it has launched a high oleic soybean oil line. The company partnered with a U.S. supplier to import oil from the United States, marking one of the first large scale exports of U.S. high oleic soybean oil to an international market. Lotte notes that high oleic soybean oil has many benefits over conventional products, including higher levels of antioxidants, a neutral taste, long shelf life, and exceptional frying capabilities. While the company’s initial launch is currently limited to foodservice packages (18 liter cans), it plans to launch consumer packages soon.
With an 86.6 percent market share, Korea is U.S. Soy’s largest soybean oil export market and one of the U.S. Soybean Export Council ‘s (USSEC) target markets for high oleic soybean oil exports, so it’s no surprise to see the innovative oil taking root there. Korean soybean oil refiners are convinced of the high quality of U.S. soy oil and, in fact, two of the country’s five major refiners have solely imported U.S. soybean oil since 2018.
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