Moon cakes hit the market early
A variety of moon cakes have hit the market with more than a month to go for the Mid-Autumn Festival.
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Kinh Do Modelez began its moon cake season nearly a month ago by exporting a batch of products to the US.
At home it has launched 62 varieties ranging from traditional style cakes to modern variations with abalone, Alaska shrimp, and crab.
They cost VND35,000 (US$1.6) to VND460,000 (US$21) for a box.
Without disclosing the planned volume of supply, Vu Quoc Tuan, the company’s deputy director of the foreign relations and communications division, told Vietnam News “It will be higher than last year. The market this year will surely grow and consumption will rise in all segments.”
Dong Khanh Food and Foodstuff Company Ltd told Vietnam News that it has introduced nearly 20 kinds of moon cakes this year.
Mai Thi Loc, head of its marketing department, said “We have just launched the new products and are waiting for consumers’ reactions. The plan may change then.”
Bibica Corporation has increased supply 11% this year to 550 tonnes.
It has set up some 500 kiosks in addition to 12,000 shops that would sell its cakes, the company said.
There will be 50 products in three lines - luxury, nutrition and tradition – besides fruit moon cakes for online customers, it said.
The prices are 5% higher than last year at VND37,000-140,000, with a luxury selection priced at VND370,000-1.3 million (US$16.5 – 58.29) per box, it added.
Bibica plans to gift 10,000 moon cakes and other confectionery to disadvantaged children and those living in remote areas around the country.
Like in recent years amateurs too are offering moon cake by posting many kinds on Facebook and other social media.
They have become very popular due to their unique designs.
Moon cakes imported from Hong Kong and sold on social media have also attracted many buyers this year.
Luxury segment in high demand
Many of the confectionary firms predict demand for moon cakes to gift relatives and business partners will increase this year.
Loc of Dong Khanh told Vietnam News that the full-moon festival this year falls at the same time as Independence Day, another occasion on which Vietnamese give gifts.
“The demand will surely increase,” she said.
Seeing the potential, Dong Khanh decided to produce some high-end products.
“This segment will account for up to 10% of our company’s total output and its production will be 15% higher than last year.”
Concurring, Tuan of Kinh Do Mondelez said “Demand for moon cakes used as gifts for companies and partners will surely increase.”
His company has worked to improve quality and design to capitalise on the opportunity, he said.
