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Boston Globe
09-04-2025
- Business
- Boston Globe
Asian supermarket customers brace for price hikes as Trump tariffs take effect
The steeper tariff rates Trump set for imports from nations he accused of unfair trade practices took effect first thing Wednesday along with a 10% baseline tax on products from the rest of the world. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Several countries in Asia have some of the largest levies, including South Korea (25%), Vietnam (47%) and Cambodia (49%). After China approved counter-tariffs and said it would fight a U.S. trade war 'to the end,' the president on Tuesday raised the rate on Chinese goods to 104%. Advertisement At a 99 Ranch Market less than a mile from the UCLA campus, one of the California-based chain's 58 stores, regular shopper Artis Chitchamnueng said he won't be able to go anywhere else to find the foods he likes if prices skyrocket. 'I think (Trump's) just like playing a lot of like mind games of just trying to like take control of the market and stuff like that,' Chitchamnueng, a part-time worker and entrepreneur, said. Many customers have said on social media they don't know if they will be able to continue doing their routine grocery shopping at 99 Ranch Market. Advertisement Even if mainstream grocers stock some of the same items, a lot of imported items are less expensive at the specialty supermarkets. An 18-ounce bottle of Lee Kum Kee Panda oyster sauce, for example, retails for $3.99 at 99 Ranch. The websites for Safeway and Walmart list the same bottle for $4.79 and $10.45, respectively. The stores stocking a wide range of noodles, dried vegetables, herbs and skin care products from China, Japan, South Korea, Thailand and Vietnam can be a source of comfort for immigrants and foreign students craving the tastes of home. Tony He, an international student at UCLA, said Trump's tariff policies confused him but he would continue shopping at 99 Ranch to get his groceries if prices increase. 'As long as I need Asian food, I usually come here,' He said. Shopping for culturally specific foods, drinks and condiments in the U.S. has come a long way from the once-meager offerings found in the 'ethnic food' aisles of American supermarkets. International supermarkets and small grocery stores across the country generated $55.8 billion in revenue last year, according to market research firm IBISWorld. The sector has recorded an annual growth rate of roughly 3% since 2019, and an IBISWorld forecast predicted revenue for grocery stores with international brands would go up to over $64 billion by 2029. Analysts attribute the increase in demand to the growth of Asian and Hispanic immigrant populations, as well as to the tastes of younger consumers who enjoy experiencing new flavors. Mass market stores and brands increasingly have stocked or created Americanized versions of Asian products to ride the trend. Advertisement The specialty rice used for sushi that mainstream supermarkets sell also is usually imported from South Korea, China or Japan, noted Nancy Qian, a professor of economics at Northwestern University's Kellogg School of Management. She thinks tariffs may lead consumers to find alternatives for their favorite brands. 'When my parents first came to America in the '80s from China, they couldn't really get the same type of rice as they did in China, So they switched to a different type of rice,' Qian said. 'I think families and restaurants and people, they'll do what it takes to make ends meet. And they'll substitute foods. They'll buy new foods.' Independent shops that are integral to smaller Asian American communities are also bracing for a hit. The owner of Not Just Spices, a tiny South Asian grocery in Providence, Rhode Island, said he was concerned about costs rising costs for everyday products such as basmati rice sourced from India and Pakistan, or the smaller-grained Kalijira rice from his native Bangladesh. 'When things are cheaper, people usually buy extra. Now they buy exactly what they need,' said Mohammed Islam, who has run Not Just Spices since 1998. 'People are scared of spending any money because they don't know what's going to be happening.' Trump announced a tariff of 37% on goods from Bangladesh, 26% on neighboring India's products, 29% on items from Pakistan and a whopping 44% on imports from the island country of Sri Lanka, known for its cinnamon and other spices. If he does have to raise prices as the tariff's impacts start to hit supplies, Islam trusts his customers won't blame him. Advertisement 'People don't complain because it's already in the news,' he said. 'It's not like I'm the one who is raising the price.' Customers at Hispanic supermarkets also may be shopping more carefully. Trump has repeatedly threatened to impose a 25% tariff on most imports from Mexico. In Phoenix, roommates Andrew Colvin and Mario Aviles typically patronize Los Altos Ranch Market, where they say the bulk of the produce and snacks they buy are from Mexico. The sprawling supermarket, which includes a deli and a bakery, is one of the 115 stores the Heritage Grocers Group operates in six states. 'We expect pretty much everything to go up,' said Colvin, who was stocking up on Parrot canned coconut water, his favorite drink, in case the price goes up. 'I probably eat 14 avocados a week. There'll be a lot less of that.' Aviles doesn't want to shop elsewhere. If tariffs result in serious sticker shock, he is prepared to restrict himself instead. 'No more avocados, no more mangoes, no more orange,' Aviles said. Some experts say it wouldn't hurt to stock up on non-perishables within limits and individual household budgets. But shoppers need to avoid the 'panic buying' that accompanied the start of the COVID-19 pandemic, which could create shortages and cause additional price increases, Qian said. While it's not yet clear how much of the tariffs will get passed onto U.S. consumers, researchers say any price increases would disproportionately affect low-income households. 'These are regressive taxes. And for the elementary reason that affluent people do not spend 100% of their incomes and disadvantaged people do,' Steven Durlauf, director of the University of Chicago's Stone Center for Research on Wealth Inequality and Mobility. Advertisement Northwestern University's Qian said the cumulative economic impacts of Trump administration tariffs may hold one possible silver lining if they bring people back to the cultural enclaves of major cities. 'If you think about the old Chinatowns, or the old, like, Little Italys of America,' she said. 'The reason that those places became really important for their communities was because that was the only place where you can get the thing you wanted.' Tang reported from Phoenix. Associated Press video producer Akira Kumamoto in Los Angeles, California contributed to this report. Associated Press writer Matt O'Brien in Providence, Rhode Island, contributed to this report.
Zawya
18-02-2025
- Business
- Zawya
Lee Kum Kee Brings Authentic Asian Flavours to the Asian Food Market at Wellington Lunar New Year Festival
WELLINGTON, NEW ZEALAND - Media OutReach Newswire – 19 February 2025 - The capital came alive this weekend with thousands of Wellingtonians enjoying all the range of activities on offer at the Lunar New Year Festival, organised by Asian Events Trust, held on 16 February at TSB Arena, Shed 6 and Frank Kitts Park to welcome in the Year of the Snake. Among those joining the celebrations was the newly appointed Minister for Ethnic Communities, Hon. Mark Mitchell, who officially opened the grand celebration. Asian Events Trust Chair, Linda Lim, said the response from the community was overwhelming. "Each year, we are amazed by the number of participants in this event. It has become an event Wellington looks forward to. We are thrilled to celebrate the cultural diversity of Wellington, where Asian communities come together to experience this rich mix of cultures. "What started 23 years ago as a small celebration has flourished into one of Wellington's biggest cultural events." says Linda. Global sauces and condiments brand Lee Kum Kee returned as the festival's principal sponsor, continuing its commitment to promoting and sharing authentic Asian flavours and culture worldwide. Lee Kum Kee featured a diverse range of sauce products at their stall and the Lee Kum Kee Panda was popular, posing for photos and spreading joy among festival-goers. "At Lee Kum Kee, our mission is to promote Chinese culinary culture worldwide. We're thrilled to connect and engage with communities by supporting this event. This vibrant celebration embodies our commitment to honouring cultural traditions and fostering connections among diverse communities—values that are at the very heart of our brand," said Gary Hui, Business Development Director - APAC, Oceania of Lee Kum Kee. The Asian food market remained a crowd favourite. Lee Kum Kee offered a variety of sauces for free at the food market, including Premium Soy Sauce, Seasoned Soy Sauce for Dumpling, Gluten Free Oyster Sauce, and Chiu Chow Style Chilli Oil, to bring a superior culinary experience to the public. These sauces not only enhance the flavours of traditional dishes but also invite festival-goers to explore new culinary possibilities. 2025 Wellington Lunar New Year Festival, 29 January to 16 February. The full festival programme is available at Hashtag: #LeeKumKee #WellingtonLunarNewYearFestival The issuer is solely responsible for the content of this announcement. About Lee Kum Kee Lee Kum Kee is the global gateway to Asian culinary culture, dedicated to promoting Chinese culinary culture worldwide. Since 1888, it has brought people together over joyful reunions, shared traditions, and memorable meals. Beloved by consumers and chefs alike, Lee Kum Kee's range of more than 300 sauces and condiments sparks creativity in kitchens everywhere, inspiring professional and home chefs to experiment, create, and delight. Headquartered in Hong Kong, China and serving over 100 countries and regions, Lee Kum Kee's rich heritage, unwavering commitment to quality, sustainable practices, and "Constant Entrepreneurship" combine to enable superior experiences through Asian cuisine for people worldwide. For more information, please visit Lee Kum Kee
