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Section 1 : CPO Price Trend
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Section 2: Global Palm Oil Market Opportunities
22 - 28 Jun 2020
POINTERS ON THE PRICE TRENDS
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Section 2: Market Challenges and Opportunities:
Recent Trends in Consumption of Edible Fats and Oils in Korea
Dr. Suk Hoo Yoon
Education: B.S. 1977 Division of Applied Biological Chemistry, Seoul National University M.S. 1980 Department of Biological Science and Engineering, Korea Advanced Institute of Science and Technology Ph.D. 1983 Department of Biological Science and Engineering Korea Advanced Institute of Science and Technology Professional Employment: 1983 - 1988 Senior Research Scientist, Korea Institute of Science and Technology 1984 - 1985 Post-Doctoral Fellow, Department of Food Science and Technology, The Ohio State University, Columbus, Ohio, U.S.A. 1988 - 2013 Senior Research Scientist, Principal Research Scientist Head, Director, Vice President, President (2011 - 2013) Korea Food Research Institute 1997 - 1999 Visiting Professor, Department of Chemical and Biochemical Engineering, The University of California, Irvine, California, U.S.A. 2004 - 2013 Professor, Director, Food Biotechnology Division, University of Science and Technology, Korea 2014 – Present Professor, Department of Food Science and Biotechnology, Woosuk University, Korea Awards and Honors: Academic Advancement Award, Korean Society of Food Science and Technology, 1990 Outstanding Achievement Award, Ministry of Agriculture and Forestry, 2002 Fellow, International Society of Biocatalysis and Agricultural Biotechnology, 2011 Order of Science and Technology Merit, President of Korea, 2012 Fellow, Institute of Food Technologists, U.S.A, 2014 Fellow, American Oil Chemists’ Society, U.S.A., 2015 Outstanding Life-Time Achievement Award, KoSFoST, 2016 Editorships: Editor-in-Chief, Food Science and Biotechnology, KoSFoST, Korea (2010 - 2011) Editor, New Biotechnology, Elsevier, U.S.A (2008 - 2010) Editorial Board, Journal of Food Science, IFT, U.S.A. (2002 - 2004) Editor, Biocatalysis and Agricultural Biotechnology, Elsevier, U.S.A. (2011- present) Professional Memberships: Korean Society of Food Science and Technology – Vice President (2009), President (2012) International Society of Biocatalysis and Biotechnology – Director (2009 - present) American Oil Chemists' Society (U.S.A.) – Chair, Biotechnology Division (2013) Chair, Asian Section (2012-2015), Vice Chair (present) Research Works: Major Fields: Food Chemistry and Biotechnology (200 papers, 27 book chapters, 220 abstracts) Research Interests: chemistry of oxidation and flavor stability of lipid foods, processing of fats and oils, instrumental analyses of food materials, antioxidants, enzymatic and microbial processing of foods, single cell oil fermentation
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Based upon the changes of social and economic situations in Korea, the total consumption and variety of fats and oils used for food purposes have been remarkably changed during last decades. The proportion of energy intake from lipids was 28.8% of total energy intake in 2014, and that from visible lipids was 58.7%. The per capita supply of fats and oils was 56.4g/day, of which 98.5% were vegetable origins. The total supply amount of fats and oils for foods was 1,037,000M/T. The import amount of fats and oils comprised 98.5% of total fats and oils supply. The amount of palm oil supply was the highest as 429,000M/T, followed by those of soybean oil, canola oil, coconut oil, and corn oil in decreasing order. The fish body oil and beef tallow were the major animal fats and oils sources.

The variety of fats and oils produced in Korea, even in small amounts, included perilla oil, sesame oil, and rapeseed oil. Palm oil was mainly used for the manufacturing of instant noodles (ca 55% of total consumption) and snacks, whereas soybean oil was used mainly for salad/cooking purposes. The total consumption amount of fats and oils in Korea looks near to be mostly stabilized, however, it shows a slight and continuous increase in recent years. This is considered due to the development of new product items, especially instant noodle products. It is also recognized that the consumers become more cautious about health and well-being diets.

The manufacturers of lipid foods have become, therefore, interested in the usage of novel fats and oils for novel food production considering health concerns.
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