Finance

August 15, 2011

Korea debuts in Nigeria’s confectionery market

BY PROVIDENCE OBUH

A South Korean firm, in collaboration with Sinai Collateral, a major distributor and Marketer of Orion food products in Nigeria, has introduced orion choco pie, a confectionery treat created and manufactured by Orion Confectioneries with its head- quarters in Seoul, South Korea.

Speaking during a media presentation to launch the product, the Managing Director, Sinai Collateral Limited, Mrs Charity Ojiaka said the product has been selected as one of the world’s 100 greatest products by the Korean Ministry of Commerce, Industry and Energy and has set many world records such as its enormous quality sales which can go round the world 21 times in length.

Ojiaka said since it was launched in the market in 1974, orion choco pie became the first snack brand in Korea to achieve one trillion packs of cumulative sales in 2003 adding that in South Korea, Choco-pie symbolises closeness among people, in most of the countries where it has been introduced and marketed,

According to her, Orion supplies the South Korean military with their choco-pies which are given out to soldiers in the Korean military after their first week of basic training the product is also constantly available in thee military store.

Speaking on the Nuritional value of the product, she said, a choco pie contains 120 calories, 4.5 grams of fat, 2 grams of which are saturated and less than 5 milligrams of cholesterol, stating that it has 65 per cent milligrams of sodium, less than one of dietary fiber, one gram of protein and 2 percent of iron.

Continued she said, these are the daily nutritional requirements recommended by the world health organisation and the Federal Ministry of Health coupled with the fact that Orion choco pie is now in Nigeria and is already certified by the National Agency for Food and Drug Administration and Control, NAFDAC.

She explained that Sinai Collateral started in 1992 as a procurement buying house, focused on the buying, sourcing and marketing of food products that would not only bring returns to shareholders but would promote good health and general well being of the people.

She said “we are today the exclusive marketers and distributors of the product not only in Nigeria, but throughout the West Africa sub-region”.